Law firms competing to handle GlaxoSmithKline matters can no longer rely solely on their long-term relationship with the company or its in-house counsel. Instead, firms must use an electronic auction where they have the opportunity to underbid their competition.
Although the technique is not common, in-house legal departments increasingly are using various forms of auctions, mostly for flat-fee billing projects, to choose outside attorneys, according to corporate counsel and law firms.
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