Big Data May Be Making Portfolio Pricing Easier Than Ever
With a significant amount of matter data to draw from, negotiating a portfolio pricing deal can be a far less risky and arduous endeavor.
May 15, 2019 at 03:59 PM
3 minute read
The Portfolio Pricing Masterclass was one of the first panels on Wednesday agenda at the Corporate Legal Operations Consortium 2019 Institute in Las Vegas, and its early morning lesson was clear: Law firms and their clients need to hold onto matter-related data.
First things first: Portfolio pricing is any kind of fee arrangement covering multiple matters, either under a retainer or a deal that assigns one fee per matter for every single matter that comes through the portfolio.
So why bother? If you're a corporate legal department dealing with a high volume of matters, chances are that you'd rather receive four bills over the course of the year than 1,200.
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