The nominations received for the 2014 Value Challenge reveal an
evolution that’s taken place over just three years: Whereas value-based fee arrangements were front and center during the first year
of our program, they are now part of a comprehensive approach that
reflects a ground-level cultural change in the in-house practice of law.
As legal departments align more closely with their customers and apply
strategies and tactics common to the business units they serve, they are
shifting their culture to one of greater transparency, solid partnerships
and more sophisticated practice. The result has been a win–win:
enhanced satisfaction among the lawyers and their clients.
“It’s gratifying to see law department leaders put leading-edge business tactics into practice to
improve and demonstrate the value of the legal department,” says Catherine J. Moynihan, ACC’s
senior director of Legal Management Services. “There was intense focus on value-based pricing
when we launched the ACC Value Challenge. It’s nice to see that it’s become mainstream, just one
part of comprehensive value programs that legal departments are implementing.”
The Association of Corporate Counsel created the Value Champions program to recognize
law department and firm leaders who have made great strides in improving the value of legal
spending. This year’s honorees include eleven law departments that delivered substantial value
to their clients through value-focused legal management skills, along with five law firms and legal
service providers with which some of them partnered.
Meet the 2014 Value Champions:
Transforming the Corporate Legal Function to Drive Value