1 E. Your law department’s journey to higher value
Wish as you might, you cannot completely change your organization’s legal services
approach overnight. The journey to higher value is almost like learning a language; one must
proceed step-by-step. Because each step yields some benefit, you will gain momentum as you continue
to move forward in the journey.
A word of caution is also warranted here. The initial shift to a value
focus and the structures it requires is not easy–few worthwhile things are.
Part of this effort will be to decide what you are going to do, evaluate the
potential return on investment (ROI), and agree on an investment of time and
effort to achieve these goals. If you lack broad commitment and “buy in,” the
advisable approach would be to pick one or two areas and then build on your
success more gradually.
Partly adapted from
ACC Guide to Value-Based Fees – 2010
Otherwise, trying to move mountains on a broad scale without full
commitment is a tricky proposition. Either way, if you invest time to do this
correctly, you can deliver great return to your company while maintaining
high-quality legal services. And you will become a better manager and
guardian of your client’s resources and trust.
ACC Value Champions
ACC Value Champions are law department and law firm leaders who have made great strides
in improving the value of legal spending by implementing pricing and other management
practices as part of the ACC Value Challenge. www.acc.com/valuechampions
This initiative emanated from the success stories and collaborations ACC has heard about
and allows ACC to publicly recognize individuals in departments and law firms who are not
only making a difference for their organizations through creativity and value-based legal
management skills, but are also effecting change within the legal industry.
Covenant with Counsel
A one-page covenant between clients and outside counsel to focus on value. The document is
meant as a starting point for discussion, with law firms and corporate counsel free to tailor it to
their particular needs. www.acc.com/legalresources/resource.cfm?show=147712