Transaction Cost, Not Hourly Rate, Drives Value For Dealmaking Counsel, Pepe Says
"You need to offer value, first and foremost. However, value does not always mean the lowest hourly rate. A low hourly rate tied with having endless .10 entries, four attorneys on a file doing duplicative work or worse, junior associates on a file who are learning on the clock, will translate into a higher transaction cost despite a lower rate."
June 20, 2018 at 06:00 PM
1 minute read
Donald Pepe, Scarinci Hollenbeck / Photo by Carmen Natale What were some of your most satisfying successes of 2017, and why? What recent market factors have been most challenging in your practice area? In an era of increasing law practice portability, what does it mean to be an effective transactional lawyer in New Jersey? A prospective client in crisis calls and asks why your team should be retained. What is your answer? Dealmakers are extraordinarily busy people. What does the firm do to ensure that they remain engaged with pro bono work, their communities and their families? Technology and other factors have changed work capabilities and habits. How do you offer flexibility while also effectively managing attorneys and others professionals?
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