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Selecting the Most Cost Effective Outside Counsel (2.9.2009)
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Selecting the Most Cost Effective Outside Counsel (2.9.2009)

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Slides from a Panel Presentation in February 2009 regarding Reducing Legal Costs

Slides from a Panel Presentation in February 2009 regarding Reducing Legal Costs

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    Selecting the Most Cost Effective Outside Counsel (2.9.2009) Selecting the Most Cost Effective Outside Counsel (2.9.2009) Presentation Transcript

    • Selecting the Most Cost-Effective Outside Counsel for Your Needs Without Compromising on Quality: How to Get It Right the First Time Linda M. Kearney Managing Associate General Counsel WellPoint, Inc. (Austin, TX) David J. Maslia Assistant General Counsel CompuCredit Corporation (Atlanta, GA) Gregory Mayes Vice President, General Counsel ImClone Systems Incorporated (Branchburg, NJ) Steven J. Ellison (Moderator) Special Counsel Faegre & Benson LLP (Minneapolis, MN) Susan Hackett Senior Vice President and General Counsel Association of Corporate Counsel (Washington, DC)
    • Selecting the Most Cost-Effective Outside Counsel
      • What structural models for outside counsel have you used, what are the pros and cons of each, and what factors enter into the decision?
    • Selecting the Most Cost-Effective Outside Counsel
      • Does a workable fee arrangement depend on the nature of the litigation or transaction in which the company is involved?
    • Selecting the Most Cost-Effective Outside Counsel
      • What litigation functions can be effectively outsourced to outside counsel or other vendors?
      • What are your views/experiences with using temporary or contract attorneys for high volume work such as privilege review?
      • What are the best ways to control litigation costs (both fees and expenses) during litigation?
    • Selecting the Most Cost-Effective Outside Counsel
      • Does size matter? What are the pros and cons of working with large law firms and small law firms?
      • Have you had any experience performing substantive work with the outside counsel, and if so, what have been the results?
      • Do the benefits of convergence outweigh the risks of using fewer law firms?
      • What experiences do you have negotiating preferential fee structures in return for increased volume?
    • Selecting the Most Cost-Effective Outside Counsel
      • To what extent is your choice of counsel based upon a specific lawyer as opposed to a specific firm?
      • What resources do you use to screen and research prospective firms before they are contacted or selected?
      • When getting referrals from reliable sources, to what extent do you discuss fees?
      • Do budgets work? How do you go about establishing a budget?
      • How effective are written guidelines for fees, expenses and staffing?
    • Selecting the Most Cost-Effective Outside Counsel
      • What type of guidance do you provide for staffing specific matters?
      • What are the benefits and consequences to using over-experienced attorneys for tasks that less experienced attorneys may be able to perform?
      • What are your experiences with “managed legal care” (e.g., outside vendor reviewing bills and approving, or denying, bill items based on description)?
      • How helpful are RFPs?
    • Selecting the Most Cost-Effective Outside Counsel
      • What problems with conflicts have you experienced as a result of convergence?
      • Do you anticipate that the trend towards convergence will continue? If so, why?
      • What impact, if any, do you see current economic conditions as having on your selection of counsel?
    • Selecting the Most Cost-Effective Outside Counsel for Your Needs Without Compromising on Quality: How to Get It Right the First Time Linda M. Kearney Managing Associate General Counsel WellPoint, Inc. (Austin, TX) David J. Maslia Assistant General Counsel CompuCredit Corporation (Atlanta, GA) Gregory Mayes Vice President, Deputy General Counsel ImClone Systems Incorporated (Branchburg, NJ) Steven J. Ellison (Moderator) Special Counsel Faegre & Benson LLP (Minneapolis, MN) Susan Hackett Senior Vice President and General Counsel Association of Corporate Counsel (Washington, DC) 3623244