Exponential expansion in the use of Requests for Proposals (RFPs) has placed a powerful tool in the hands of general counsel — one that they use with uneven skill. Here are the pitfalls to avoid and the keys to making RFPs clear, fair and effective.
This document discusses pitfalls of joint ventures. It begins by defining a teaming arrangement as a partnership or joint venture between companies to act as a potential prime contractor, or an agreement for one company to act as a subcontractor for another prime contractor. Some benefits of teaming include the ability to compete for larger contracts and meet subcontracting requirements. However, the document warns that an "ostensible subcontractor" relationship, where a subcontractor performs primary work, can result in the companies being considered as affiliates for size standards. The document emphasizes that terms and conditions for any joint venture or teaming agreement must be put in writing to avoid conflicts down the road. It also discusses SBA's definition and rules
This document discusses the work of Chartered Business Valuators (CBVs) in 3 paragraphs:
CBVs determine the value of businesses, assets, brands, and help settle legal disputes. They use various valuation methods and draw on experience to assess worth, even for intangible assets. Their designation signifies expertise and adherence to standards, lending credibility to valuations. CBVs help clients understand the value of their assets, such as helping a software company realize they could sell for $8.3 million instead of the initial $4 million offer.
The document discusses key legal issues surrounding talent contracts in the entertainment industry. It notes that Conan O'Brien's recent exit from NBC highlighted the importance of specificity in contracts. Mid-level talent are facing pressures as media companies cut costs, presenting "take it or leave it" contract terms. The document outlines several essential elements that should be addressed in talent contracts, including job duties, compensation structures, and terms for termination or departure. It also discusses the risks of relying on boilerplate contracts versus tailored agreements for individual roles and situations.
Risk management for law firms chapter 2 ark 2009 by meg blockDavid Cunningham
This document discusses governance models for managing conflicts of interest and new business intake at law firms. It begins by outlining the risks of the traditional "hub-and-spoke" model and argues a new centralized model is needed. The document then describes two models - the distributed hub-and-spoke model where clerical staff handle conflicts clearance, and the centralized pyramid model with a specialized research team. It argues the pyramid model places the interests of the firm over individual lawyers and allows for more thorough factual analysis of conflicts.
The document outlines 8 questions employers should ask before taking adverse employment actions against employees to help ensure fairness and avoid potential legal issues. The questions address an employee's tenure, past warnings, reviewing all documentation of the incident, whether others were treated differently, identifying witnesses, whether the employee is a member of a protected class, how coworkers will perceive fairness, and what will be communicated to the employee. Asking these questions helps employers make informed decisions, reduce legal risks, improve employee morale, and lower exposure to damages in potential lawsuits.
The document provides an overview of business teaming for winning government contracts. It discusses the benefits of teaming for small businesses, the government, and large businesses. It outlines the typical process for creating a team, including understanding your own capabilities, identifying potential partners, conducting due diligence, and creating a teaming agreement. The main types of teaming arrangements covered are prime contractor/subcontractor, joint ventures, mentor-protégé relationships, and GSA contractor teaming agreements. Key steps are introduced such as determining your needs and strengths, finding a suitable partner to fill gaps, and getting the relationship details in writing.
Top teaming tactics - from in to win -- v8 -- comptroller of currencyJudy Bradt
This document provides guidance on teaming tactics for federal contracting. It discusses the benefits of teaming for both large and small businesses, as well as the different types of teaming arrangements like prime-subcontractor, joint ventures, and mentor-protege relationships. It emphasizes doing research on potential partners and opportunities, developing a clear scope of work and capabilities for each party, and drafting proper teaming agreements. The goal is to form productive relationships that increase small business competitiveness and help both parties access more federal contracts and expertise.
This document discusses pitfalls of joint ventures. It begins by defining a teaming arrangement as a partnership or joint venture between companies to act as a potential prime contractor, or an agreement for one company to act as a subcontractor for another prime contractor. Some benefits of teaming include the ability to compete for larger contracts and meet subcontracting requirements. However, the document warns that an "ostensible subcontractor" relationship, where a subcontractor performs primary work, can result in the companies being considered as affiliates for size standards. The document emphasizes that terms and conditions for any joint venture or teaming agreement must be put in writing to avoid conflicts down the road. It also discusses SBA's definition and rules
This document discusses the work of Chartered Business Valuators (CBVs) in 3 paragraphs:
CBVs determine the value of businesses, assets, brands, and help settle legal disputes. They use various valuation methods and draw on experience to assess worth, even for intangible assets. Their designation signifies expertise and adherence to standards, lending credibility to valuations. CBVs help clients understand the value of their assets, such as helping a software company realize they could sell for $8.3 million instead of the initial $4 million offer.
The document discusses key legal issues surrounding talent contracts in the entertainment industry. It notes that Conan O'Brien's recent exit from NBC highlighted the importance of specificity in contracts. Mid-level talent are facing pressures as media companies cut costs, presenting "take it or leave it" contract terms. The document outlines several essential elements that should be addressed in talent contracts, including job duties, compensation structures, and terms for termination or departure. It also discusses the risks of relying on boilerplate contracts versus tailored agreements for individual roles and situations.
Risk management for law firms chapter 2 ark 2009 by meg blockDavid Cunningham
This document discusses governance models for managing conflicts of interest and new business intake at law firms. It begins by outlining the risks of the traditional "hub-and-spoke" model and argues a new centralized model is needed. The document then describes two models - the distributed hub-and-spoke model where clerical staff handle conflicts clearance, and the centralized pyramid model with a specialized research team. It argues the pyramid model places the interests of the firm over individual lawyers and allows for more thorough factual analysis of conflicts.
The document outlines 8 questions employers should ask before taking adverse employment actions against employees to help ensure fairness and avoid potential legal issues. The questions address an employee's tenure, past warnings, reviewing all documentation of the incident, whether others were treated differently, identifying witnesses, whether the employee is a member of a protected class, how coworkers will perceive fairness, and what will be communicated to the employee. Asking these questions helps employers make informed decisions, reduce legal risks, improve employee morale, and lower exposure to damages in potential lawsuits.
The document provides an overview of business teaming for winning government contracts. It discusses the benefits of teaming for small businesses, the government, and large businesses. It outlines the typical process for creating a team, including understanding your own capabilities, identifying potential partners, conducting due diligence, and creating a teaming agreement. The main types of teaming arrangements covered are prime contractor/subcontractor, joint ventures, mentor-protégé relationships, and GSA contractor teaming agreements. Key steps are introduced such as determining your needs and strengths, finding a suitable partner to fill gaps, and getting the relationship details in writing.
Top teaming tactics - from in to win -- v8 -- comptroller of currencyJudy Bradt
This document provides guidance on teaming tactics for federal contracting. It discusses the benefits of teaming for both large and small businesses, as well as the different types of teaming arrangements like prime-subcontractor, joint ventures, and mentor-protege relationships. It emphasizes doing research on potential partners and opportunities, developing a clear scope of work and capabilities for each party, and drafting proper teaming agreements. The goal is to form productive relationships that increase small business competitiveness and help both parties access more federal contracts and expertise.
Directors and Officers (D&O) insurance is important for technology companies to protect against shareholder lawsuits. While many tech executives understand the need for D&O coverage at a high level, they may not know when to reevaluate the policy. The document provides guidance on common times to reassess D&O coverage, such as when making operational changes, implementing new strategies, or experiencing business shifts. Technology companies should work with their broker to regularly review D&O limits and terms as the business evolves to ensure ongoing protection from potential stakeholder claims.
The document discusses new optional appellate arbitration rules developed by the American Arbitration Association (AAA). Key points:
- The rules establish an appellate process within arbitration to allow for higher-level review of awards while maintaining arbitration's expedited nature.
- Parties can agree to use the rules to appeal awards on issues of material legal errors or clearly erroneous factual findings.
- Appeals are typically documents-only with no oral arguments. The process aims to be completed within 3 months.
- The rules are intended for large, complex cases where appellate review is important.
Ethics In Negotiations Article - Landman Mag Jan-Feb 2016Greg Jessup
The document discusses the ethical responsibilities and obligations of landmen in their negotiations and dealings with clients, employers, and other parties in the oil and gas industry. It notes that landmen have a duty to promote honesty and fairness while representing their clients' interests and maintaining competition. The document examines scenarios where a landman may have conflicting obligations to multiple clients, and how negotiating in good faith with transparency can help balance these duties. It also provides guidance on landmen's responsibilities during negotiations, including fully disclosing parties' rights and avoiding conflicts of interest.
This document provides information about legal structures and regulations for starting a small business. It discusses the main legal structures including sole proprietorship, partnership, corporation (regular and S-corporation), and limited liability company. For each structure, it outlines factors like legal liability, taxation, administrative costs, and advantages/disadvantages. The document also lists state licensing agencies for different business types and outlines general legal and regulatory requirements for businesses like obtaining licenses, permits, tax registrations and complying with labor laws.
Deryck Palmer on What's Next for the Energy Sector
Christopher Garcia on Cyber Threats
Crowdfunding: How Communications Will Provide the Keys to Capital
JOBS Act: Hedge Fund Communications Options Poised to Expand
Paul Winum on CEO Succession
Karen Lisko on Juror Evolutions
NACD BoardVision on the Future of Directorship
Blogs Worth Following
Part Ii What Every Executive Should Know About Dispute ResolutionRBCG1
This document provides an overview of alternative dispute resolution and litigation for business executives. It discusses three key points:
1. Uncertainty from disputes can damage a company in many ways such as making lenders less likely to lend. It is difficult for executives to separate disputes from their personal and professional roles.
2. Most civil lawsuits settle before or during trial to avoid high costs and uncertainty. Effective pre-trial discovery is important for determining settlement parameters.
3. Studies show that plaintiffs who reject settlement offers usually fare worse financially at trial, while defendants who reject offers risk much larger losses if they receive an unfavorable verdict. Trials are high-risk gambles for both sides.
The document introduces collaborative practice as an alternative to litigation for resolving civil disputes. It describes collaborative practice as a process that commits all parties to resolving the dispute through negotiation rather than going to court. The collaborative process focuses on open communication and identifying interests and needs in order to craft mutually agreeable solutions. It notes that collaborative practice can be an effective approach for resolving disputes involving businesses, employment issues, estates, and other civil matters.
The document discusses the trend toward alternative dispute resolution (ADR) in intellectual property cases, particularly patent litigation. It notes that ADR has seen increased usage due to pressures to reduce litigation costs from clients, courts promoting settlement, and ethics requirements for attorneys. The panel of IP attorneys discuss how they have seen a rise in ADR usage and its benefits, including faster resolution and cost savings compared to protracted litigation. They also note adjustments that law firms and clients are making to further reduce costs, such as increased client involvement in legal strategy and discovery work.
Protecting Confidential Information When an Employee LeavesANTHONY PALAZZO
The document discusses protecting confidential information when an employee leaves a company. It outlines how non-disclosure agreements (NDAs) and non-compete clauses are intended to restrict sharing confidential information and working for competitors after leaving. However, the law regarding these is complex and varies by state. Courts may enforce some portions of non-competes by modifying language but not others based on reasonableness standards of geographic area, duration, and balancing employer and employee interests. Protecting trade secrets ultimately depends more on building stable employment, paying competitive compensation, and showing respect to employees than relying on legal agreements alone.
I plan to start my plumbing business from scratch. Starting from scratch allows me to have complete control and freedom over decisions, but it will be more time-consuming to build up a clientele and train employees from the beginning. I will organize my business as a sole proprietorship to keep costs low in the startup phase, but the downside is that I will have unlimited personal liability for any debts or lawsuits against the business.
Part Ii What Every Executive Should Know About Dispute ResolutionRBCG1
1) Litigation is costly for businesses and most cases settle before going to trial. During the litigation process, discovery allows both sides to determine boundaries for settlement negotiations.
2) Rejecting a settlement offer carries risks, as plaintiffs who turn down offers often receive less at trial. Plaintiffs were more likely to make poor choices about rejecting offers in contingency fee cases.
3) Negotiation is an important alternative to litigation for resolving disputes and should focus on interests rather than positions. Developing rapport and trust between parties can help reach a mutually agreeable solution.
April 2011 Part Ii What Every Executive Should Know About Dispute ResolutionRBCG1
1) Litigation is costly for businesses and most cases settle before going to trial. During the litigation process, discovery allows both sides to determine boundaries for settlement negotiations.
2) Plaintiffs who reject settlement offers often fare worse at trial, receiving smaller awards than the rejected offers. Defendants who reject settlement offers also often lose more by going to trial when they could have settled for less.
3) Negotiation is an important alternative to litigation for resolving disputes and should focus on interests rather than positions to find mutually agreeable solutions. Building rapport and trust between parties can help resolve current and future conflicts.
It is common knowledge that contracts are heart and soul of any business activity. A full proof contract requires vast knowledge of the business world, a thorough understanding of drafting knowledge. Commercial contracts form the backbone of many commercial transactions from vendor agreements to client engagement agreements.
May 2011 ACC Docket 100 Issues To Clarify With Your M&A Counsel Fletcher Gott...Frank Fletcher
The document provides advice for in-house counsel managing outside counsel for an important M&A transaction. It recommends clarifying roles, expectations, qualifications, staffing, fees, expenses and timing with outside counsel. Specifically, it suggests discussing the law firm's experience, potential conflicts, billing policies, anticipated costs, and the company's timing expectations to ensure proper management of the complex deal and legal representation. The document aims to address issues that often go unaddressed but are important to clarify for a successful transaction outcome.
The UK regulator places primacy on outcomes that are client-centric as the determining factor to whether sufficient research and due diligence has been done.
In this practical article, Legal Project Management pioneers, Pam Woldow and Doug Richardson, provide useful advice on how law firms can adopt and implement practices to better serve clients\' needs for efficient and cost effective legal services.
A General Counsel ’s Take on LPM & Foreseeabilitypwoldow
One Chief Legal Officer describes how he uses Legal Project Management to obtain better predictability of legal costs and to assure efficient service delivery.
Kees Kuijlman en Peter van Teeseling presenteren de transformatie van 1.0 naar 2.0 en de essentie van creatief ondernemen om hierin succesvol te kunnen zijn.
A book review on the book of John Adair,titled Effective decision making presented by Dr. Helal Uddin Ahmed, Bangladeshi doctor works in psychiatry, BSMMU, Bangladesh.
Directors and Officers (D&O) insurance is important for technology companies to protect against shareholder lawsuits. While many tech executives understand the need for D&O coverage at a high level, they may not know when to reevaluate the policy. The document provides guidance on common times to reassess D&O coverage, such as when making operational changes, implementing new strategies, or experiencing business shifts. Technology companies should work with their broker to regularly review D&O limits and terms as the business evolves to ensure ongoing protection from potential stakeholder claims.
The document discusses new optional appellate arbitration rules developed by the American Arbitration Association (AAA). Key points:
- The rules establish an appellate process within arbitration to allow for higher-level review of awards while maintaining arbitration's expedited nature.
- Parties can agree to use the rules to appeal awards on issues of material legal errors or clearly erroneous factual findings.
- Appeals are typically documents-only with no oral arguments. The process aims to be completed within 3 months.
- The rules are intended for large, complex cases where appellate review is important.
Ethics In Negotiations Article - Landman Mag Jan-Feb 2016Greg Jessup
The document discusses the ethical responsibilities and obligations of landmen in their negotiations and dealings with clients, employers, and other parties in the oil and gas industry. It notes that landmen have a duty to promote honesty and fairness while representing their clients' interests and maintaining competition. The document examines scenarios where a landman may have conflicting obligations to multiple clients, and how negotiating in good faith with transparency can help balance these duties. It also provides guidance on landmen's responsibilities during negotiations, including fully disclosing parties' rights and avoiding conflicts of interest.
This document provides information about legal structures and regulations for starting a small business. It discusses the main legal structures including sole proprietorship, partnership, corporation (regular and S-corporation), and limited liability company. For each structure, it outlines factors like legal liability, taxation, administrative costs, and advantages/disadvantages. The document also lists state licensing agencies for different business types and outlines general legal and regulatory requirements for businesses like obtaining licenses, permits, tax registrations and complying with labor laws.
Deryck Palmer on What's Next for the Energy Sector
Christopher Garcia on Cyber Threats
Crowdfunding: How Communications Will Provide the Keys to Capital
JOBS Act: Hedge Fund Communications Options Poised to Expand
Paul Winum on CEO Succession
Karen Lisko on Juror Evolutions
NACD BoardVision on the Future of Directorship
Blogs Worth Following
Part Ii What Every Executive Should Know About Dispute ResolutionRBCG1
This document provides an overview of alternative dispute resolution and litigation for business executives. It discusses three key points:
1. Uncertainty from disputes can damage a company in many ways such as making lenders less likely to lend. It is difficult for executives to separate disputes from their personal and professional roles.
2. Most civil lawsuits settle before or during trial to avoid high costs and uncertainty. Effective pre-trial discovery is important for determining settlement parameters.
3. Studies show that plaintiffs who reject settlement offers usually fare worse financially at trial, while defendants who reject offers risk much larger losses if they receive an unfavorable verdict. Trials are high-risk gambles for both sides.
The document introduces collaborative practice as an alternative to litigation for resolving civil disputes. It describes collaborative practice as a process that commits all parties to resolving the dispute through negotiation rather than going to court. The collaborative process focuses on open communication and identifying interests and needs in order to craft mutually agreeable solutions. It notes that collaborative practice can be an effective approach for resolving disputes involving businesses, employment issues, estates, and other civil matters.
The document discusses the trend toward alternative dispute resolution (ADR) in intellectual property cases, particularly patent litigation. It notes that ADR has seen increased usage due to pressures to reduce litigation costs from clients, courts promoting settlement, and ethics requirements for attorneys. The panel of IP attorneys discuss how they have seen a rise in ADR usage and its benefits, including faster resolution and cost savings compared to protracted litigation. They also note adjustments that law firms and clients are making to further reduce costs, such as increased client involvement in legal strategy and discovery work.
Protecting Confidential Information When an Employee LeavesANTHONY PALAZZO
The document discusses protecting confidential information when an employee leaves a company. It outlines how non-disclosure agreements (NDAs) and non-compete clauses are intended to restrict sharing confidential information and working for competitors after leaving. However, the law regarding these is complex and varies by state. Courts may enforce some portions of non-competes by modifying language but not others based on reasonableness standards of geographic area, duration, and balancing employer and employee interests. Protecting trade secrets ultimately depends more on building stable employment, paying competitive compensation, and showing respect to employees than relying on legal agreements alone.
I plan to start my plumbing business from scratch. Starting from scratch allows me to have complete control and freedom over decisions, but it will be more time-consuming to build up a clientele and train employees from the beginning. I will organize my business as a sole proprietorship to keep costs low in the startup phase, but the downside is that I will have unlimited personal liability for any debts or lawsuits against the business.
Part Ii What Every Executive Should Know About Dispute ResolutionRBCG1
1) Litigation is costly for businesses and most cases settle before going to trial. During the litigation process, discovery allows both sides to determine boundaries for settlement negotiations.
2) Rejecting a settlement offer carries risks, as plaintiffs who turn down offers often receive less at trial. Plaintiffs were more likely to make poor choices about rejecting offers in contingency fee cases.
3) Negotiation is an important alternative to litigation for resolving disputes and should focus on interests rather than positions. Developing rapport and trust between parties can help reach a mutually agreeable solution.
April 2011 Part Ii What Every Executive Should Know About Dispute ResolutionRBCG1
1) Litigation is costly for businesses and most cases settle before going to trial. During the litigation process, discovery allows both sides to determine boundaries for settlement negotiations.
2) Plaintiffs who reject settlement offers often fare worse at trial, receiving smaller awards than the rejected offers. Defendants who reject settlement offers also often lose more by going to trial when they could have settled for less.
3) Negotiation is an important alternative to litigation for resolving disputes and should focus on interests rather than positions to find mutually agreeable solutions. Building rapport and trust between parties can help resolve current and future conflicts.
It is common knowledge that contracts are heart and soul of any business activity. A full proof contract requires vast knowledge of the business world, a thorough understanding of drafting knowledge. Commercial contracts form the backbone of many commercial transactions from vendor agreements to client engagement agreements.
May 2011 ACC Docket 100 Issues To Clarify With Your M&A Counsel Fletcher Gott...Frank Fletcher
The document provides advice for in-house counsel managing outside counsel for an important M&A transaction. It recommends clarifying roles, expectations, qualifications, staffing, fees, expenses and timing with outside counsel. Specifically, it suggests discussing the law firm's experience, potential conflicts, billing policies, anticipated costs, and the company's timing expectations to ensure proper management of the complex deal and legal representation. The document aims to address issues that often go unaddressed but are important to clarify for a successful transaction outcome.
The UK regulator places primacy on outcomes that are client-centric as the determining factor to whether sufficient research and due diligence has been done.
In this practical article, Legal Project Management pioneers, Pam Woldow and Doug Richardson, provide useful advice on how law firms can adopt and implement practices to better serve clients\' needs for efficient and cost effective legal services.
A General Counsel ’s Take on LPM & Foreseeabilitypwoldow
One Chief Legal Officer describes how he uses Legal Project Management to obtain better predictability of legal costs and to assure efficient service delivery.
Kees Kuijlman en Peter van Teeseling presenteren de transformatie van 1.0 naar 2.0 en de essentie van creatief ondernemen om hierin succesvol te kunnen zijn.
A book review on the book of John Adair,titled Effective decision making presented by Dr. Helal Uddin Ahmed, Bangladeshi doctor works in psychiatry, BSMMU, Bangladesh.
The document discusses various aspects of normal human sexuality including:
1. It defines human sexuality and discusses how it is determined by factors like biology, culture, relationships and life experiences.
2. It describes different cognitive, learning, and physiological perspectives on sexuality and the role of the brain, hormones and nervous system.
3. It discusses Masters and Johnson's four phases of the sexual response cycle including desire, excitement, plateau, and resolution.
SANA Hotels provides accommodations across 9 hotels in Lisbon, Estoril and Sesimbra. They offer 1276 guest rooms and 45 meeting rooms catering to both business and leisure travelers. The hotels are located in the city centers or seaside towns, providing proximity to attractions while also offering relaxation.
Michelle Murray photographed the bride and wedding party as they got ready for the wedding. The wedding took place at The Charles Inn in Niagara, where guests enjoyed a beef tenderloin and sable fish dinner. The following day, the newlyweds and guests visited Niagara Falls before heading home.
Aztec Art, Sculpture And Architecture Finishedguest398d1f
The document provides an overview of Aztec art, sculpture, architecture and other cultural aspects. It describes some key features of Aztec cities like Tenochtitlan, including the main temple and palaces. It also discusses Aztec calendars, writing systems, clothing, jewelry, weapons and the important role of sacrifice and warriors in their society. Human sacrifice was part of their religious practices to appease the gods and ensure prosperity.
This document summarizes key points about legal department convergence processes from the perspectives of both in-house counsel and outside law firms. It discusses how convergence began as a trend started by DuPont in the 1990s to reduce the number of outside law firms used. Legal departments use convergence to better manage budgets, build stronger relationships with fewer firms, and implement performance metrics. Both in-house counsel and law firms must be clear on objectives, use data to inform decisions, and view interviews and implementation as important parts of the process. Overall, the document provides advice for effectively navigating convergence from both sides of the relationship between legal departments and outside counsel.
Mitchell Kowalski believes the legal industry is undergoing major changes called "The Great Legal Reformation". Alternative service providers and the rise of legal AI are putting pressure on traditional law firm models. To survive, law firms must create new strategies for legal service delivery. Kowalski argues firms should shift to a holistic, team-based approach that leverages people from various backgrounds alongside technology and process improvements. This will allow firms to differentiate themselves and provide a unique client experience that makes clients' worlds "gloomy" without the firm, securing their loyalty and competitive advantage in the future legal market.
In studying the changes rolling across the global legal services market, it has become clear to me that we are at the beginning of what I call, The Great Legal Reformation.
When business owners come to the point where they simply can’t see eye to eye, success can become unfeasible. Disputes between business owners can arise from any number of issues and have varying impacts on the actual business, ranging from simple distraction to total dissolution. Depending on the business and circumstance, the means for resolution may or may not be provided for in the relevant by-laws or shareholder agreement. In this webinar, the expert panel discusses different types of shareholder disputes and corresponding remedies, including alternative dispute resolution, buy-sell agreement provisions, and share valuation considerations.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/resolving-shareholder-disputes-2020/
Ten thing i’d do differently as a law firm ceoRachel Hamilton
The document provides advice for law firm CEOs on how to improve their firms' performance and adapt to changing market conditions. It recommends 10 things CEOs should do differently, including changing governance models to be more efficient, productizing legal offerings to increase repeatability and profits, embracing strategic pricing based on costs and client value, reducing inefficiencies throughout operations, lowering costs of legal work by implementing process improvement and project management techniques, and investing in knowledge management to continually improve efficiency. The overall message is that law firms need to adopt business best practices and focus on reducing costs while maintaining quality in order to survive increasing price pressure and competition.
This webinar discusses resolving shareholder disputes. The panel of experts explores different types of shareholder disputes that can arise such as operational or managerial differences, financial disagreements, or perceived inequity. Common claims in shareholder disputes include breach of contract, breach of fiduciary duty, fraud, and self-dealing. Methods for resolving disputes include mediation, arbitration, litigation, and alternative remedies like compelling a buy-out. Standards of value and valuation approaches are important considerations when valuing a shareholder's interest. Proper buy-sell agreements and other contractual terms can help prevent and prepare for potential shareholder disputes.
This document discusses the challenges facing the legal profession in India and opportunities for growth. It notes that law firms need to manage costs while demand for legal services remains strong. Firms are hiring more paralegals to reduce costs while lateral hiring is risky. Outsourcing and alternative business structures are expanding the types of legal services offered. While technology improves efficiency, firms must have a strategy for upgrading systems. Overall, the legal market is changing rapidly but the profession will continue to innovate and lead globally in legal services.
A local business was interested in partnering with a seemingly successful attorney but decided to conduct a due diligence investigation first. The investigation uncovered that the attorney had been charged with 18 counts of fraud, including money laundering and making false statements, resulting in criminal convictions and jail time. As a result, the local business declined to pursue the partnership to avoid reputational damage. Due diligence investigations are an important part of mergers and acquisitions to uncover potential risks, as even small issues found can end deals or cause large financial losses later on. While they add cost upfront, they are minor compared to issues that may be discovered after a deal is completed.
The document discusses key components of law firm transformation - processes, technology, and people. It summarizes a panel discussion on these topics. Regarding processes, it discusses how outsourcing low-value repetitive work like non-disclosure agreements can reduce costs while focusing lawyers on higher-value work. For technology, it describes how a law firm uses systems to improve processes, costing, and quality control. Finally, it notes that while technology can improve efficiency, organizational culture and reward structures that prioritize billable hours can inhibit change unless focused on client benefits.
The document discusses key components of law firm transformation - processes, technology, and people. It summarizes a panel discussion on these topics. Regarding processes, it discusses how outsourcing low-value repetitive work like non-disclosure agreements can reduce costs while focusing lawyers on higher value work. For technology, it describes how a law firm uses systems to improve processes, costing, and quality control. Finally, it notes that while technology can improve efficiency, organizational culture and reward structures that prioritize billable hours can inhibit change. Success requires putting the best people on transformation and focusing on benefits to clients.
How Food Companies Can Reduce Legal CostsRonaldJLevine
The document discusses ways that food companies can work with outside counsel to reduce costs associated with product liability lawsuits and recalls. It recommends designating an "quarterback" attorney from the outside firm to coordinate crisis response and litigation efforts. Additional recommendations include developing a crisis management plan, estimating settlement and litigation costs upfront, creating detailed discovery and motion plans, considering alternative dispute resolutions, efficiently staffing matters, coordinating multi-state efforts, negotiating discounts with vendors, closely reviewing bills, and conducting reviews to improve future responses. The goal is to leverage outside counsel as a resource to help control costs rather than just viewing them as an emergency expense.
This document summarizes key points about restrictive covenants and non-compete agreements. It discusses what types of information employees cannot take with them when leaving a job, including proprietary, confidential information, customers, and other employees. It then outlines the agenda and learning objectives for a presentation on non-compete agreements, which includes understanding their purpose and key components. It provides an overview of the types of restrictive covenants, what constitutes a legitimate business interest to support an agreement, and factors considered for an agreement to be reasonable such as time, area, and line of business restrictions.
Measuring The Intangibles A Schnur July2005AnthonySchnur
The document discusses the subjective factors that capital providers consider when evaluating potential investments. They look beyond quantifiable data to assess intangibles about management capability and the company-investor relationship. Capital providers form impressions throughout the acquisition process about what kind of client the company will be. They judge consistency, the ability to present a clear internal view, responsiveness to requests, and litigation history. How the company conducts itself in discussions conveys these intangibles that are important to securing funding.
LEGAL ETHICS – BEST PRACTICES 2022 - How to Avoid Malpractice & Disciplinary ...Financial Poise
This webinar presents basic practice pointers to avoid malpractice and disciplinary actions, and how to respond to claims of malpractice or unethical behavior if they arise. The panel also discusses the role that malpractice insurance plays in these situations and the ramifications of a malpractice judgment or disciplinary action. Model Rules addressed may include: those that govern the client-lawyer relationship (Rules 1.1 through 1.10; 1.13; and 1.16); those that that speak to transactions with persons other than clients (Rules 4.1 through 4.4); those that govern the responsibilities of managing and supervisory lawyers, subordinate lawyers, non-lawyer assistance, independence, unauthorized practice of law, and multijurisdictional practice (Rules 5.1 through 5.5); and those that govern communication, including advertising and solicitation of clients (Rules 7.1 through 7.5).
Part of the webinar series: LEGAL ETHICS – BEST PRACTICES 2022
See more at https://www.financialpoise.com/webinars/
Increasingly, law firms have used the device of merger as a road to quick growth. Without comprehensive planning the merger route is a hazardous undertaking.
1) CPAs and other financial professionals are now considered fiduciaries under new regulations, requiring them to put their clients' interests first.
2) Record keeping is crucial to demonstrate that all work was conducted within compliance guidelines, including documenting all client meetings and the process for insurance transactions.
3) A lawsuit awarded $14.2 million to a plaintiff after two reputable firms provided dramatically different calculations for life insurance premiums to maintain the same benefits, illustrating the risks of relying on common industry practices. Proper application of prudent investor principles could have avoided litigation.
2. EDGE INTERNATIONAL REVIEW | 21
R TOOLS
FOR
general counsel
Creating RFPs that really
deliver the goods
Exponential expansion in the use of Requests for Proposals
(RFPs) has placed a powerful tool in the hands of general
counsel — one that they use with uneven skill. Here are
the pitfalls to avoid and the keys to making RFPs clear, fair
and effective.
R
By Pamela H. Woldow
ecently, the general counsel of a major corporation met with
us to discuss consulting support for a Request for Proposal
(RFP) process that would winnow down the number of out-
side law firms they would use in the future. But he mentioned an aston-
ishing twist: “Of course, we’ve already selected the firms we’ll use.”
When I asked why they would go through an expensive and time-con-
suming exercise (for them and for law firms that responded) when the
outcomes were already determined, the GC replied: “Well, to make the
selection process look fair.” It turns out that the real purpose of this RFP
3. 22 | EDGE INTERNATIONAL REVIEW
was not to select the best counsel, but to avoid hard conversations and po-
tential acrimony with the firms that would be “de-selected.”
I suggested that rather than go through an elaborate and costly charade,
they simply start using only the firms they knew they wanted to use. e
senior members of the legal team looked at me as if I had uttered heresy.
“You have to understand,” the GC objected, “we want to get rid of a bunch of
firms. An RFP will provide a gentlemanly way to do so that appears fair and
objective.” For obvious reasons, we declined to participate in an engagement
that would be an exercise in avoidance rather than a valid way to change the
company’s status quo.
is GC and his senior colleagues, let me emphasize, are not devious or
disingenuous people suffering from Integrity Impairment Disorder.ey are
fine lawyers with a record of sound management of the corporate legal func-
tion. But their aversion to conflict illustrates how the stresses accompanying
the new face of client-law firm relations can distort the RFP process.
Shifts in the balance of bargaining power mean that to an unprecedented
degree, the client now can call the shots in selecting and retaining outside
counsel. The problem, a lot of chief legal officers admit somewhat sheep-
ishly, is they don’t necessarily know who to shoot, when to shoot, or how
to shoot. Many have been thrust into dramatically altered relationships
with outside counsel that require them to be more aggressive, make deci-
Shifts in the balance of and perhaps put longstanding friendly re-
sions that are bound to displease someone,
bargaining power mean that lationships at risk.
O
to an unprecedented degree, KINDER AND GENTLER IS NOT BETTER
the client now can call the
shots in selecting and
n one hand, one can’t blame general
counsel for seeking non-confronta-
retaining outside counsel.
tional options for tough decisions. On the
other hand, however, a “kinder, gentler” ap-
proach can backfire, producing distrust and
resentment that erodes the lawyer-client relationship. We have assisted sev-
eral law firms with responding to RFPs, and many have voiced their suspicion
that the RFP process may be a pre-determined and artificial beauty contest, or
even that their RFP responses may be shared with their competitors.
Law firms face a tough decision about whether to even bother spending
the hours and the thousands of dollars required to prepare a thoughtful, thor-
ough RFP response. In many cases, we often suggest that the firm take a
4. EDGE INTERNATIONAL REVIEW | 23
pass on responding unless it already enjoys some form of relationship and
service history with the client. Incumbents rule, and newbies are very much
long shots unless they can boast some extraordinary differentiator in expert-
ise, experience or price that will get them through the screening process. On
the other hand, if a well-crafted RFP suggests a level playing field and if an
economic gain, we will help them frame a Unlimited client rosters of
RFP “win” really is likely to provide actual
“acceptable” outside
competitive response.
G
NEW PRESSURES, NEW PRIORITIES counsel led to an entitlement
eneral counsel have always had to ex- mentality among law firms
ercise judgment about which firms that chief legal officers are
now using RFPs to unwind.
and vendors will best serve their companies
across a spectrum of legal matters. Historically,
however, the approved vendor list expanded
almost without limit (and often without discipline). It seemed a win-win situ-
ation for everybody; the only damage was to the corporate legal budget.
ose days are done. Unlimited client rosters of “acceptable” outside
counsel led to an entitlement mentality among law firms that chief legal of-
ficers are now using RFPs to unwind. We hear about law firms expressing
outrage that their annual bite out of the fatted calf might not be as big as
before; so imagine the wrath a General Counsel contemplates when push-
ing firms away from the table altogether. GCs aren’t coaching peewee base-
ball, where everyone gets an equal chance to play. “Today,” one American
GC told us, “it’s a new game. It’s called ‘Tough Darts.’” In England, it’s
called “Hard Cheese.”
S
CUTTING BOTH WAYS
erving as a law firm to a corporate client is neither an entitlement nor a
sinecure, and firms cannot behave as if it is. ey must earn the right,
every day, to sell their services to a company by delivering excellent results,
predictability, and consistent value.
But that cuts both ways. General counsel have the responsibility to ex-
ercise sound judgment and make choices that support the company’s goals,
not the vendors’ interests. Hiding behind a bogus RFP process to avoid
taking heat from disenfranchised law firms is not merely a waste of every-
one’s time and money; it also undermines the GC’s authority. We are en-
tering a “Strong General Counsel” epoch in the legal profession, one in
5. 24 | EDGE INTERNATIONAL REVIEW
which GCs must learn to wield, and appear comfortable wielding, their
strengthened leverage.
E
WHY ISSUE AN RFP?
ven if they’re not always skillfully drafted or implemented, most RFPs
can confer enormous value in selecting outside counsel if the time and
circumstances are right. Here are the three most common situations in which
RFPs are called for:
1. A new general counsel needs to put his or her personal stamp on the
office, or act as a new broom sweeping clean.
When a GC joins a company, she is obliged to examine the law firms that
served her predecessor and she is fully entitled to select firms that support her
philosophy, strategy and objectives. She is also permitted to give preference
to vendors whose loyalties run to her, not to the previous occupant of her
chair. Finally, changes in the legal marketplace call for her to aggressively
seek out fresh ideas and approaches. An RFP can be an excellent way both
to become acquainted with a broad range of law firms and to help get the GC
An RFP can be an excellent company over time.
up to speed on the firms that have served the
way both to become
acquainted with a broad
2. e company is confronting new or
range of law firms and to help
unique challenges and legal needs that
cannot be addressed by the current roster
get the GC up to speed on of firms.
the firms that have served the
ere will be times when a company faces a
company over time.
new issue, a new technology, or a matter of
first impression. It might involve a new reg-
ulation in a specialized area or an unusual
case in a faraway jurisdiction. If the incumbent law firms do not have the
requisite expertise or geographic coverage, an RFP can be the best way to
identify a firm that can provide what the company needs right now.
3. e GC wants to send a clear, unequivocal message about new priori-
ties within the company or the legal department.
In the last few years, we have seen RFPs clearly intended to communicate to
firms one simple fact: the company’s legal priorities have changed. In 2008,
2009 and 2010, as economic pressures mounted, flurries of RFPs appeared
6. EDGE INTERNATIONAL REVIEW | 25
seeking services at lower prices and in more creative configurations: they were
vehicles announcing that “business as usual” was over.ese RFPs shook firms
out of their complacency; equally important, they demanded that firms back
away from automatic annual rate increases that far exceeded inflation and
other costs of doing business. eir message
was clear: “You are in serious competition for Hiding behind a bogus RFP
process to avoid taking heat
the company’s business. Compete or lose.”
S
WHAT MAKES A GOOD RFP? from disenfranchised law
omeone once defined a camel as a horse firms is not merely a waste
of everyone’s time and
designed by a committee. Many RFPs,
money; it also undermines
it’s fair to say, suffer from “camel syndrome.”
the GC’s authority.
Many people want a hand in the process, so
the end product looks like an aggregation of
random information requests, few of which
are relevant.
In my experience, many RFPs ask for far too much information — and
when that information arrives, no one knows quite what to do with it. I’ve
seen RFPs ask hundreds of questions that generated hundreds of pages of an-
swers, but most of the requested information has no bearing on the purpose
of the RFP and will not be used to evaluate or select law firms.
It’s disrespectful, in my opinion, to require law firms to spin their wheels
like this.ey are squandering significant resources answering questions that
no one cares about or will ever review. In most situations, only a few core
items of information really bear on the suitability of the competing firms.
For that reason, I’m delighted to report an emerging trend in which RFPs
concentrate only on a few essential questions. Recent RFPs issued by FMC
Technologies (which made a point of calling their request a “Non-RFP”)
and Pfizer were both brilliant. Each was concise and was tightly focused on
relationships, collaboration, and company values.e fundamental issue was
not about legal competency; it was about trust. After all, GCs want firms
they can trust to deliver value and high-quality legal services, so why not get
right to the all-important trust issue up front?
T
GET IT RIGHT OR LOSE THE RELATIONSHIP
he question of trust suggests a final and supremely negative impact of a
bogus RFP: the lamentable but all-too-common lack of follow-through
with the selection process after RFP responses have arrived. What message
7. 26 | EDGE INTERNATIONAL REVIEW
RFP trends
Here are examples of demands made by corporate
law departments in recent RFPs. Get used to them.
What we will not pay for: What we want at no
additional cost:
• Time spent by summer associates
and first- and second-year • Open counseling line
associates
• Multiple short-term secondees
• Third-year associate time (except (less than six months)
in limited circumstances)
• Time spent debriefing lawyers • Non-billable advice
on the results of meetings or
teleconferences • Continuing legal education training
• Time spent educating new or • Extranet technology
replacement lawyers added to
the team to become familiar with • Online research resources
the project
• Lawyers who are not part of the • Educational seminars
core team.
• Rate increases in 2011
• Busted deal fees in transactions
does a law department send to law firms when, after issuing an RFP with a
strict deadline and receiving all the replies, it dawdles over evaluation, or
worse again, never finishes the process or makes its selections known?
ere are legal departments that have become infamous for sending out
There are legal departments radio silence. For a law firm, responding to
RFPs that result in nothing but profound
that have become infamous those legal departments is like tossing
for sending out RFPs that into a black hole. e result is a once-
$30,000 to $50,000 worth of time and effort
result in nothing but profound burned-twice-shy law firm that either hesi-
radio silence. tates to respond to future RFPs — a
lose-lose outcome for both sides — or turns
out mundane, off-the-shelf RFP responses.
8. EDGE INTERNATIONAL REVIEW | 27
Similarly, if a company does complete an RFP process but either does
not send the promised business to the “winners” or continues to send busi-
ness to friends at firms that were supposedly “de-selected,” both the com-
pany’s and the GC’s credibility are eroded. e law firm-client relationship
will suffer accordingly.
If GCs want to be seen as trustworthy within their own organizations,
in their legal departments, among their outside counsel, and in the legal
marketplace, then they need to stand tall, play it straight, and show respect
for the RFP process they rely on to identify the best and most loyal al-
liance partners. •
Transformative
innovation
Pamela Woldow has earned global recognition for her pioneer-
ing approaches to transforming today’s law firm-client relation-
ships. Drawing on her deep expertise in Legal Project
Management, Convergence Programs, Alternative Fee Arrange-
ments, RFPs and law firm selection, Pam helps law firm lawyers
work more profitably while also providing better value to clients,
and she counsels corporate legal departments in containing
costs and creating stronger alliances with outside counsel.
Email: pwoldow@edge-international.com
Call: 610.660.9550