Law firms face two critical intelligence factors — business intelligence (internal) and competitive intelligence (external) — and both play a significant role in pricing. This post focuses on competitive intelligence. Watch for the post on business intelligence next month. In the second half of the nineteenth century, two towering scholars—one from England, one from the […]

Last week The American Lawyer asked “Is Your Firm Ready?” for alternative fees. Writing in response to recent industry surveys, which confirm the legal industry’s increased interest in alternatives to the billable hour (aka AFAs), reporter Chris Johnson noted pure hourly billing is in decline and is expected to decline over the next few years. […]

“Every client wants lower fees; no client wants lower value.” Ten simple words encapsulate a law firm’s true business objective: offering value. To be successful, law firms must look past marketing campaigns, business development initiative, and even pricing strategies to get at the heart of their business model: value. TWO VALUES, ONE FORMULA If “value […]

Recently ALM Legal Intelligence released its 2015 report on law firm pricing professionals [see POST HERE]. It is the industry’s leading study on the people who are building this nascent niche. Contained within the survey’s far-reaching questionnaire are a number of questions that focus directly on the pricer and his role at the law firm. Isolating […]

For the third year in a row, ALM Legal Intelligence has investigated the pricing activities of law firms (mostly BigLaw). Like last year, the focus is again on pricing professionals. This year’s report, Pricing Officers: Some Firms Still Want to Make the Jump (May 2015), picks up where the 2014 survey left off, focusing on […]