Much has been said about the balance between what legal departments pay law firms and what they get — the so-called value gap. Yet much remains confused and unclear about that term, value. We will never reach consensus on law firm value, I believe, because too many things are at work. Here are 12 propositions that sort out key ideas that influence the impasse.
But a discouraging prognosis does not help general counsel who want the most for their expenditures. At the end, I offer a partial way forward.
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