The LOGICFORCE Advisory Board met in May of 2017 in Nashville, TN. During the full-day working session, Advisory Board members grappled with two key topics:
- How can law firms and corporate legal departments structure business arrangement that fairly reflect the value they provide to one another?
- What technology and systems will be necessary in the future to promote better collaboration between law firms and corporations while driving improved operational performance at both?
Given the complexity of these topics and what is at stake for in-house and outside counsel, the discussions were frank, fair and substantive. The top ten insights generated from the discussion included:
- In-house counsel were surprised by the findings of the Law Firm Cyber Security Scorecard
- In-House counsel leaders are taking three proactive steps to restructure relationships with outside counsel
- In-house counsel leaders clearly described their ideal law firm partner
- Law firm leaders clearly described their ideal corporate client
- In-house counsel leaders are actively looking for ideal law firm partners
- The pressure of cost-cutting measures on in-house counsel leaders is a central driver in their decision-making
- The billable hour can no longer suffice as the basis of a healthy business relationship
- Law firms that proactively bring solutions earn business, loyalty and wallet-share
- Technology can enable law firms to reduce costs, secure data and improve operations
- Opportunities abound for proactive law firms to grow, acquire clients and improve profits
This report provides more details on these insights and provides LOGICFORCE’s top seven recommendations. Download this report now so you can make these insights actionable and transformative to your organization.