Legal teams have been advised to review outside counsel staffing. How does your legal department currently manage and monitor the composition of law firm project teams and ensure alignment of experience levels?
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SVP Business & Legal Affairs in Media8 months ago
In a word, communication...with both regular outside counsel and potential new law firms, we discuss the nature of the work and how best to approach. With budget pressure on all of us in-house, this communication is important, especially up front so there are no surprises. Assessing the strengths and capabilities of the outside team is important so work can be divided appropriately. Overall goal is to achieve an optimal outcome substantively with a managed, if not optimal, cost structure. Open communication before and during project engagement is key to realizing this goal.Chief Data & Innovation Strategist in Software8 months ago
Agreed. communication is key. Before engaging external legal counsel for our organization, we diligently vet them. We ask numerous questions to ensure alignment and assess their experience. Additionally, we seek referrals from others, as recommendations in the legal field often prove valuable, particularly when they come highly recommended.
Deputy General Counsel8 months ago
Industry referrals, vetting experience statements are preliminary filters to ensure that the law firm is equipped to handle the project. It is important to name and identify the senior partner in the engagement letter who will take responsibility that quality standards and responsive are maintained through projects (especially prolonged ones). Retain ability to request for restaffing of team if the experience is unsatisfactory. Set out expectations clearly on the nature and timelines - if its a diligence then more junior staffing whereas complex structuring requires senior counsels.Fellow at CodeX, The Stanford Center for Legal Informatics & Generative AI Editor at law.MIT8 months ago
Based on my general observations, managing the composition of law firm project teams presents a significant challenge due to the varied and non-standardized nature of these efforts. AI LegalTech Counsel & Legal Ops Innovation Leader | Digital Transformation Expert | Strategic Advisor in Services (non-Government)8 months ago
Many legal departments don't employ strategic, data-driven approaches to reviewing outside counsel staffing and do this on an informal or infrequent basis. What they should do is:
* define specific performance metrics
* require periodic reporting
* consider implementing legal technology tools that track and analyze billing, time management, and team composition and provide insights on efficiency, effectiveness, and diversity
* regularly review the insights and collaborate with the law firms to make necessary adjustments, ensuring continuous improvement