Avoiding Unfair Legal Bills:

The Dos and Don’ts of Controlling Legal Fees
600 an hour and can answer a
complicated questi...
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Avoiding Unfair Legal Bills: The Dos and Don’ts of Controlling Legal Fees - Interview: David Paige, Legal Fee Advisors - Chief Litigation Officer Summit

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For more information: emailus@marcusevans.com

David Paige of Legal Fee Advisors and a service provider at the marcus evans Chief Litigation Officer Summit Spring 2014 provides his advice on controlling legal fees.

Join the 2015 Summit along with top Chief Litigation Officers and service providers in an intimate environment for a focused discussion of key new drivers shaping the legal industry today.
For more information: emailus@marcusevans.com

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Avoiding Unfair Legal Bills: The Dos and Don’ts of Controlling Legal Fees - Interview: David Paige, Legal Fee Advisors - Chief Litigation Officer Summit

  1. 1. Avoiding Unfair Legal Bills: The Dos and Don’ts of Controlling Legal Fees 600 an hour and can answer a complicated question in 15 minutes, that would be less expensive than a USD 400 an hour lawyer taking two hours to answer the same question. The lawyer with the higher rate can actually deliver more cost effective advice. Interview Managing Advisors with: David Paige, Director, Legal Fee “Do not be afraid to confront your law firms with common sense fair billing standards,” advises David Paige, Manag ing D ir e c to r , L eg a l F ee Advisors. “Most law firms have seen it before and already know they are billing out of compliance with basic standards. It is not too difficult to bring them into compliance,” Paige continues. Legal Fee Advisors is a service provider at the marcus evans Chief Litigation Officer Summit Spring 2014, in Las Vegas, Nevada, March 20-22. What issues are legal officers facing with fees? Why is this area complex? It is complex because most Chief Litigation Officers (CLOs) and General Counsel have limited resources to control fees. They often do not have adequate technology or personnel to he lp e ns ure that the co mpany purchases the most efficient services and that outside counsel follow existing billing rules. What mistakes do CLOs make with legal fees? What cost savings are achievable and how? One common mistake is thinking that the price of legal assistance is directly related to the attorney’s rate per hour, when the amount that they pay for total legal fees has much more to do with efficiency. For example, if a very competent senior lawyer charges USD Another mistake is thinking that there is nothing they can do to control the efficiency of how their law firm attacks a complicated matter or litigation. There are many things they could do, including specific types of budgeting protocols, working with billing rules that eliminate waste and inefficiency, and working with outside vendors who can supply some services at a lower cost than could be provided by the firm. The second phase is the prescription phase, where we take the opportunities for saving and translate them into procedures and guidelines that fit with their culture. This typically allows them to save 20-45 percent year-over-year. We can also check in our databases to determine whether they are in fact paying the kind of rate that they should in their jurisdiction. How could they better identify and avoid paying questionable legal charges? What charges should they not be paying? One of things we look for is whether there are time chargers who are clearly performing tasks that are beneath their ability. We look for a disconnect between the lawyer’s experience level, hourly rate and the task being done. In addition, some firms put too many lawyers on each task while others charge for business overhead such as secretarial overtime. That type of charge should really be the law firm’s cost. There are many opportunities for achieving efficiency that go beyond the hourly rate. What’s next? How could enforce those guidelines? they The way to enforce the guidelines is to have experienced auditors working in conjunction with an e-billing platform, where lawyer bills are fed through a portal to help the auditor identify the elements that might be out of compliance. Feedback then goes to the law firm immediately to change those items that are out of compliance. Most law firms bring themselves into compliance fairly quickly because they have a great motivation: they want to get paid! We look for a disconnect between the lawyer’s experience level, hourly rate and the task being done
  2. 2. The Legal Network - marcus evans Summits group delivers peer-to-peer information strategic matters, trends and on professional breakthrough innovations. About the Chief Litigation Officer Summit Spring 2014 This unique forum will take place at the Red Rock Resort & Spa, Las Vegas, Nevada, March 20-22, 2014. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on managing the escalating costs of litigation, best practices in litigation avoidance and creating valuable partnerships and synergy with your outside counsel. www.chieflitigationofficersummit.com Please note that the Summit is a closed number business of event and participants the strictly Contact Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division limited. Tel: Email: + 357 22 849 313 press@marcusevanscy.com For more information please send an email to info@marcusevanscy.com All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com About Legal Fee Advisors Legal Fee Advisors is committed to helping companies avoid unfair, inefficient, and unethical billing practices by helping our clients create and enforce appropriate legal fee guidelines based upon best practices, or by serving as experts to testify in court in instances when an alternate mechanism for resolving fee issues is needed. Our executive team, consists of some of the nation’s foremost experts on legal fees and legal billing. Results, efficiency and value are maximized. www.legalfeeadvisors.com About marcus evans Summits marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-on-one business meetings. For more information, please visit: www.marcusevans.com Upcoming Events European Corporate Counsel Summit - www.eccsummit.com IP Law European Summit - www.iplawsummiteurope.com IP Law Summit - www.iplawsummit.com To view the web version of this interview, please click here: www.chieflitigationofficersummit.com/DavidPaige

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