In-house counsel teams have legal needs that are handled primarily by their outside law firms. To get much of this work done, it often requires an integration of business strategy, practice of law, business of law, project management and technology. In this session you will learn ideas and approaches for how best to partner with law companies etc. to the benefit of theirs and their clients’ advantage.

Law firms looking to differentiate themselves are employing increasingly sophisticated pricing and profitability strategies, including talking to clients about pricing, budgets and process, while uncovering and analyzing the cost of services sold. Join an expert panel as they discuss the evolution of the Legal Pricing Professional: the people, the processes and the technologies pioneering this profession and steering the industry.

$1T is spent on legal services annually. What is the role of technology in that process? During this program, Zach Posner from the Legal Tech Fund provides a quick overview of the current legal technology landscape and a focus on how technology is impacting all of the steps involved in legal service delivery – from selection of outside counsel through payment for services rendered and after-action review. Zach is joined by Wendy Butler Curtis, Esq. and they take a deeper dive into a few areas of technology and showcase examples of how corporate legal departments and firms are using technology to drive value for their organizations and clients.

In-house counsel interest in litigation finance has dramatically increased since the onset of the pandemic as businesses explore important ways to protect their balance sheets. Demand for funding among leading law firms has also increased as firms look to sustain legal actions in progress and provide attractive client discounts to retain the work. Our speakers will pull back the curtain on how litigation funders model single cases and multi-case portfolio investments to demonstrate how they evaluate cases for risk, duration, and internal rate of return and how you can benefit from these insights to better evaluate when (and if) it makes sense to engage a funder.

This program will go well beyond a “shallow” look into the forces driving law firm margins and exploring how and where firms can have the greatest impact on the bottom-line. This event takes a unique approach, bringing together two experts - Jill Nelson with Intapp and Tom Jones with Iridium Technology - with deep knowledge on profitability from competing legal technology companies.

The terms negotiated between law firms and client legal departments have long been plagued by information asymmetry at best, and plain misunderstanding at worst. Anyone who has ever asked any of these questions related to law firm and client relationships should listen to this event. What investments and expenses must firms make to deliver the caliber of services clients demand? How does the revenue model seek to cover these costs and generate surplus funds to reward good performance? How are these economics applied at the firm, practice group and matter-level?

The terms negotiated between law firms and client legal departments have long been plagued by information asymmetry at best, and plain misunderstanding at worst. Whether hourly billing or one of the varieties of alternative fee arrangements, there are common, economic principles underlying the proposals firms make, and the parameters within which they must operate to run a sustainable business. This session reveals foundational drivers underlying law firm performance and economic levers that govern the professional services business model.  Join Casey Flaherty as he illustrates how every relationship will benefit from establishing a common understanding of the incentives that motivate behaviors in these delicate service provider relationships.

More and more clients are now relying on very sophisticated, often AI-powered analytics tools—from both startups and legacy providers—to better understand and benchmark their legal spend. Most of these tools provide real-time monitoring and better information for setting budgets, alternative fees and negotiating with outside counsel. Clients who use these tools are often ahead of their firms in understanding what legal work can—and should—cost.

Many law firms have ignored the act of forecasting, a best-practices mainstay in other industries. By doing so, these firms are hampering their opportunities for success. Business leaders in other fields know that forecasting can add a level of predictability — a backdrop against which your firm can build strategies, resource projects, and measure success. So why isn’t the practice of forecasting more widespread — and what can be done to change this reality? Join Thad Jampol, Toby Brown and Pam Smith as they share theirs insights on this topic.

Economic shocks have been accelerants for legal industry change over the past decades. This cycle will render similar shifts. Susan Raridon Lambreth and Mark Medice will take our audience through LawVision’s legal industry playbook for industry recovery, reviewing macro and micro trends driving global economic changes and, by extension, the legal profession. This program will focus on those aspects of the playbook that address client value and the evolving client/firm relationships when it comes to service delivery, pricing, LPM and the like.

In this webinar, Susan and Mark will address the strategies legal organizations may pursue in terms of clients, organizational structure, economics, data/technology, talent, culture, and overall approach to be well-positioned for growth in the emerging new “normal,” as well as to prepare for the next crisis.