As part of your law firm engagement process, do you vet the law firms (and relationship partners) for any reputational red flags, including fraud, ethical misconduct, etc. prior to engagement? If so, what parameters do you use when vetting the firm, do you vet all firms, boutique firms, international ones, etc.? Who in your organization vets the firms, Compliance, Procurement, other?

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Global Counsel in Travel and Hospitality9 months ago

Yes. This is critical. However I haven’t traditionally put law firms or professional service firms through sanctions screening tools, only due diligence/automated software solutions given scalability and efficiency (time/cost). Typically for things like red flags, fraudulent/ethical misconduct, manual review of Google searches, reviews on attorney rating blogs online and journals, attorney registration/bar license status records as well as disciplinary records, manual reviews are optimal. Most vetting done in-house by the attorneys according to policies.

Parameters can be things like star ratings (eg AVVO), recommendations and referrals, testimonials, client endorsements or feedback, LinkedIn posts, article publications, expertise in given areas, prior deals closed and cases won,

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Director of Legal in Finance (non-banking)9 months ago

Thank you Krishan! This is very helpful.

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Director of Legal8 months ago

Procurement policies tend to require this. When I was a GC, I liked to meet the junior staff too - given they are predominantly the engine room.

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Director of Legal in Finance (non-banking)8 months ago

Thanks Anna!

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