Valuing "value-add" services received from Law Firms

Valuing Value-Add
Analysis of Joint Survey Results
Matthew Whalley & Ian Rodwell. January 2012

www.blplaw.com

Valuing Value-Add

Contents
Introduction ......................................................................... 2
Survey Details....................................................................... 3
Client Value ..................................................................... 3
Law Firm Investment........................................................ 5
Discussion ............................................................................ 7
Client Value Categorisation ............................................... 7
Law Firm Investment Summary......................................... 8
Combined Results ............................................................ 9
Client Knowledge & Law Firm Investment ..................... 9
Client Efficiency Value & Law Firm Investment ............ 10
Law Firm Investment & Scalability .............................. 11
Next steps ..................................................................... 12
Appendices......................................................................... 13
Appendix 1: Graphical display of client survey
scores by value category for each service ........................ 13
Knowledge ................................................................ 13
Awareness ................................................................ 14
Efficiency/Effectiveness.............................................. 15
Risk Management ...................................................... 16
Enabling ................................................................... 17
Appendix 2: Chart Showing Law Firm Investment
plotted with Economy of Scale ........................................ 18
Appendix 3: Plotting Knowledge vs Awareness
Correlation..................................................................... 19
Appendix 4: Testing for Correlation between
Efficiency vs Enabling ..................................................... 20
Appendix 5: Distribution of services by CKV and
CEV ............................................................................... 21
Appendix 6: Original Client Survey .................................. 22
Appendix 7: Suggested modifications to the
original Client Survey...................................................... 24
Appendix 8: Original Law Firm Survey ............................. 25

www.blplaw.com Page 01 © Berwin Leighton Paisner
Legal.20108456.2/MWHA/ADMIN.ADMIN

Valuing Value-Add

Introduction

In June 2011 we carried out a survey of in-house KM professionals. The purpose of the survey was to
develop a cross-client perspective of the relative values of “value-add” services provided by law firms.

The client survey was followed by a survey of law firm professionals of their views of the perceived cost to
law firms of delivering these “value-add” services.

The results demonstrate which services are valued by clients in terms of “Knowledge” and “Efficiency”
measures as well as their contribution towards the management of legal risk. They also highlight the relative
costs of providing the services and which services can be developed for delivery to multiple clients for
minimal investment per client.

The results also raise questions with regards to efficiencies gained on the client side and whether there is a
gap with regards implementation of knowledge services, to the detriment of the client.

If you have any comments or questions about this report, or would like to participate by completing a survey
on behalf of your organisation, do please get in touch.

Matthew Whalley (matthew.whalley@blplaw.com)

Ian Rodwell (ian.rodwell@linklaters.com)


Valuing Value-Add

Survey Details

The survey took two parts. Firstly, clients were asked to rate the value of the “value-add” services they
received from law firms. Secondly, law firms were asked to assess the cost of providing these services.

Client Value

The client value survey was designed to capture in-house Legal and Support staff attitudes towards the
“Value-add” services they received from their law firms. Respondents were asked to rate services with
respect to 5 measures:

Knowledge increasing your knowledge and understanding of legal and regulatory
issues related to specific line of work

Awareness increasing your awareness of relevant legal and regulatory developments

Efficiency/Effectiveness reducing the time it takes to do your job or enabling you to do the job
better

Risk Management helping you to identify and manage legal risk on behalf of your clients

Enabling enabling you to undertake work or tasks that wouldn’t have been possible
if the service wasn’t provided

Scores were given on a scale of 1-5, where

1 = Excellent, extremely valuable, essential service – couldn’t work without it
2 = Very Good, very valuable, fully appreciated
3 = Good, of general value overall, appreciated
4 = Poor, of little value, not really appreciated
5 = Very poor, no added-value, not appreciated

The average result across each of the 12 selected services (multiplied by 1000 for ease of comparison) is
shown in Table 1, over the page.

Results for each of the 5 categories is colour coded as being either “of little or no value” (red), “of general
value” (amber) or “highly valued” (green).

Scores for the full list of services included in the original questionnaire are displayed in Appendix 1.


Valuing Value-Add

Efficiency/ Risk
KM Offering Knowl’dge Awaren’ss Effect’ness Managem’t Enabling OVERALL
Legal Secondees 1643 1286 2857 1929 3286 11000
Support Secondees 2273 1909 2909 1727 3000 11818
Legal Research Helpdesk 2714 2143 2429 1357 1643 10286
Legal Advisory Hotline 3091 2273 2818 2000 1909 12091
Vanilla Legal & Regulatory Updates 2000 2714 1643 1643 1000 9000
Industry Specific Bulletins 3143 3214 2500 2357 1357 12571
Thought leadership piece 2321 2000 1143 1500 786 7750
Microsites/Online Tools 2786 2500 2143 2357 1214 11000
Standard Training Seminars 2857 2929 2000 1643 1214 10643
Bespoke Training 3643 3214 2727 2500 1786 13870
Round Table Discussions 3182 3091 2385 2000 1364 12021
Post transaction reviews 2923 2833 2500 2308 1462 12026

Colour Scale

Less than 1700 = Poor in category, little or no value

More than 1700, Less than 3000 = Good, of general value, appreciated

More than 3000 = Excellent, high value, very appreciated

Table 1: Summary of client survey responses


Valuing Value-Add

Law Firm Investment

Cost was assessed according to 3 investment factors (time required, level of expertise and scarcity of
resource) plus the potential for the service to be delivered to multiple clients (scalability).

Each value-add service was rated according to 4 measures:

Time invested this will be determined by the size or duration of the support; the level of
creation/adaptation required; and the level of expertise available

Level of expertise this will determine the cost of the resource required

Scarcity of resources for example, assistance from non-lawyers or specialists such as PSLs may
be more difficult to secure. The measure can also relate to technological
resources So, the scarcer the resources, the higher the investment score

Economies of scale can the investment be leveraged to provide support to multiple clients?
So the greater the scope for economies of scale, the lower the
investment score.

The average investment and economy of scale (scalability) scores are shown in Table 2, below.

Results for each of the three investment categories is colour coded as being either “high investment” (red),
“moderate investment” (amber) or “little or no investment” (green).

Results for scalability are coded as “good economy of scale” (green), “moderate economy of scale” (amber)
or “little or no economy of scale” (red).

Scores for the full list of services included in the original questionnaire are displayed in Appendix 2.


Valuing Value-Add

Investment
Time Level of Scarcity of Overall Economy
KM Offering Investment Expertise Resource Investment of Scale
Legal Secondees 3571 3143 3000 9714 1143
Support Secondees 3000 3000 3667 9667 1500
Legal Research Helpdesk 1857 2857 2286 7000 2857
Legal Advisory Hotline 2000 3143 2286 7429 2571
Vanilla Legal & Regulatory Updates 2143 2286 2143 6571 3857
Industry Specific Bulletins 2714 3143 2857 8714 2714
Thought leadership piece 3429 3714 3286 10429 3143
Microsites/Online Tools 3333 3167 3000 9500 3833
Standard Training Seminars 2143 3429 2571 8143 3429
Bespoke Training 3000 3286 3286 9571 2143
Round Table Discussions 3143 3429 3714 10286 2857
Post transaction reviews 2333 2833 3000 8167 1667

Investment Economy of Scale
Less than 2500 = Little or no Greater than 3000 = good
investment economy of scale
Less than 3000, greater
More than 2500, Less than 3500 than 1500 = moderate
= Moderate Investment economy of scale
More than 3500 = High Less than 1500 = poor
Investment economy of scale

Table 2: Summary of Law Firm Survey Responses


Valuing Value-Add

Discussion

Client Value Categorisation

The high degree of correlation between Knowledge and Awareness (see Appendix 3) leads us to believe that
these two measures can be combined into what we will call “Client Knowledge Value”, or CKV.

Within this correlation, there is a definite preference for services which enhance knowledge. That shouldn’t
mean services that serve to increase awareness should be entirely disregarded. There is substantial
anecdotal evidence that, with the right distribution mechanisms, simple awareness services can add
significant value.

When reviewing the correlation between “Efficiency/Effectiveness” and “Enabling” (see Appendix 5), it is
difficult to ignore the two outlying values for Legal and Support Secondees. Although these data points are
out of line with the rest of the measures, we feel this is due to the nature of the terms used.

By becoming more efficient at an existing process, time is freed. This freed time, if the efficiencies are great
enough, can be used to enable additional work to be taken on, increasing the amount of work that a legal
department can undertake.

In the case of legal and support secondees, additional work is enabled due the fact that the base resource
(lawyer time) is increased, rather than due to improved efficiency. The two are therefore two sides of the
same coin, enabling additional work to be carried out.

We feel therefore that it is appropriate to create a more broadly defined efficiency measure: Client Efficiency
Value (CEV).

Finally, the services surveyed are perceived as delivering little value in managing legal risk. The results in
this measure are therefore excluded from further analysis in this report. Although Legal Risk is excluded,
Law Firms’ should still have a major role in assisting in-house counsel to identify and manage their
organisations’ legal risks.


Valuing Value-Add

Law Firm Investment Summary

No single factor proved to be consistently high in contributing to the cost of services (see Figure 1), leading
us to simplify this measure into a single factor, Law Firm Investment (LFI). Overall, investment in 75% of
services is seen as moderate to high.

Law Firm Investment Breakdown
12000

10000

8000

6000

4000

2000

0
t l fic B t e s
Up e

g
s
du gula y H k

ns
e

s
on s

s
s

Tr s
in
ry tory tlin

w
Re iso d es

Di inin
e

ol
ec

r
ch d ee

ok in a

t io sio
de

St icro der llet
da

vie
To
pi
o
dv elp

a
on

s
m

re
u

ip

n s scu
e
Be S e
in
H
ec

ec

sh

n
r

e
nl
lS

tS

ng
/O
i
ec
Le ear

ac
ga

le
sp
or

ni
ea

es

Po Tab
Sp
pp

ga al A
Le

ai
es

sit

Tr

tra
Su

lR

Scarcity of Resource
gh
g

d
st

rd

un

st
ga

l&

ou

da
M

Ro
Le

Expertise
Th
In

an
Le

Time
lla
ni
Va

Figure 1: Law Firm Investment Scores

General opinion within law firms seems to be that the majority of value-add services are potentially scalable
given the right level of investment. 83% of the listed services (see Table 2) were rated as having moderate
to good economies of scale.


Valuing Value-Add

Combined Results

Having assessed the client value and divided into separate Knowledge (CKV) and Efficiency (CEV) factors, it
is interesting to combine these two factors with the simplified Law Firm Investment (LFI). Figure 2, below,
compares CKV with LFI. Figure 4 (next page) compares CEV with LFI. It is also interesting to contrast LFI
with the scalability/economy of scale ratings. This is shown in Figure 4.

Client Knowledge & Law Firm Investment
Figure 2 shows that almost all services rated are well valued in terms of the knowledge they deliver. The
exception is Legal Secondees, which appear to be valued almost exclusively as a resourcing aid.

It is perhaps no surprise that 3 of the top 4 rated services for “knowledge” (Bespoke Training, Industry
Specific Bulletins and Standard Training Seminars) would be considered as “traditional” law firm value adds.

It is however interesting that the third highest rated service in terms of knowledge is round table
discussions. This shows that value can be generated not only by delivering law firm knowhow to clients but
also through stimulating discussion and the exchange of knowledge with peers.

Among respondents in the client session, legal advisory hotlines were the least well known – perhaps a
consequence of a more discriminatory approach by law firms in offering such support to clients.

Investment is high in almost all cases. The goal for law firms (and clients) must be to reduce the required
investment and/or to scale the solutions to generate a better value return across a broader client base.

Hitting the sweet spot in the bottom right hand quadrant (Low Investment, High Value) are Vanilla Legal
and Regulatory Updates, Legal Research Helpdesk and Legal Advisory Hotline.

Client Knowledge Value (CKV) vs Law Firm Investment (LFI)

Legal Secondees

Support Secondees
Law Firm Investment (LFI)

Legal Research Helpdesk

Legal Advisory Hotline

Vanilla Legal & Regulatory
Updates
Industry Specific Bulletins

Thought leadership piece

Microsites/Online Tools

Standard Training Seminars

Bespoke Training

Round Table Discussions

Post transaction reviews

Client Knowledge Value (CKV)

Figure 2: Distribution of services by CKV and LFI


Valuing Value-Add

Client Efficiency Value & Law Firm Investment
When looking at Client Efficiency Value (CEV), we can see that services rated far less highly. Less than half
of the services show value. The standout services in this area (Legal and Support Secondees) are both
“resourcing” services. It appears that clients are making slow progress in realising any real efficiencies from
the other value-add services offered.

There are two current services however that just about make it into the bottom right hand quadrant (High
Value, Low Investment): Legal Advisory Hotlines and Legal Research Helpdesk. For relatively little
investment, both of these services are seen as delivering some modest efficiencies to clients.

Client Efficiency Value (CEV) vs Law Firm Investment (LFI)
Law Firm Investment (LFI)

Legal Secondees
Support Secondees
Vanilla Legal & Regulatory Updates
Bespoke Training

Client Efficiency Value (CEV)

Figure 3: Distribution of services by CEV and LFI


Valuing Value-Add

Law Firm Investment & Scalability
Reviewing Potential Economy of Scale (Scalability) with LFI shows that almost all services are seen as High
investment. The exceptions are Legal Research Helpdesks and Vanilla Legal and Regulatory Updates.

Of the remainder, it is the services in the top right hand quadrant that warrant further investigation within
Law Firms, If they have good scalability, is this being realised to the benefit of a greater number of clients.
What can be done to bring down the “Client Specific Investment” in these services?

Law Firm Investment vs (Potential) Economy of Scale

Legal Secondees

Support Secondees

(Potential) Economy of Scale


Updates




Bespoke Training



Law Firm Investment

Figure 4: Overall Investment vs Economy of Scale


Valuing Value-Add

Next steps

The study provides a useful indication of which services should be offered to clients and where to focus
investment to realise economies of scale. It does however raise questions. Some follow-up actions are
detailed below, for consideration by law firms and client organisations.

Produce a simplified, online version of the original This could be a useful next step in confirming some
survey. of these early results across a broader number of
respondents. The development of the simplified
measures of value and cost (CKV, CEV, LFI and
Scalability) will make future surveys less complex.

Generate robust empirical data about the cost of It seems obvious that the subjective nature of the
provision of certain services and the likely return on survey approach raises issues. There is much room
investment. for further development of ROI models within law
firms.

Clients should work to analyse their internal For clients, it would seem that there is significant
processes and develop strategies for room for in-house KM or operations staff to realise
aligning/integrating law firm know-how with internal greater efficiencies from the services that are
practices - with the ultimate goal of saving their in- offered to them. Involving law firms in this process
house lawyers’ time. would help the firms to better understand client
needs, what services would be of most value and
therefore where to focus their energies to help.


Valuing Value-Add

Appendices

Appendix 1: Graphical display of client survey scores by value category for each
service

Knowledge
“increasing your knowledge and understanding of legal and regulatory issues related to specific line of work”

Knowledge Scores
4000

3500 Bespoke Training

Legal Advisory Hotline Industry Specific Bulletins Round Table Discussions
3000
Legal Research Helpdesk Post transaction reviews
Microsites/Onlne Tools
2500
Support Secondees
E-learning
2000 Business Hotline Updates
Webinars KM/IT Consultancy
Legal Secondees
1500 Reporting Invested Time

Soft Skills Training
1000

500

0



Valuing Value-Add

Awareness
“increasing your awareness of relevant legal and regulatory developments”

4000 Awareness Scores

3500

Bespoke Training
3000
Standard Training
Vanilla Legal & Regulatory Post transaction reviews
Seminars
Updates
Microsites/Onlne Tools
2500
E-learning
Legal Research Helpdesk Webinars
2000
Support Secondees Thought leadership piece

Business Hotline
1500 KM/IT Consultancy
Reporting Invested Time
Legal Secondees

1000
Soft Skills Training

500

0



Valuing Value-Add

Efficiency/Effectiveness
“reducing the time it takes to do your job or enabling you to do the job better”

Efficiency Scores

4000

3500

Support Secondees
3000
Legal Advisory Hotline Bespoke Training
Legal Secondees
2500 Industry Specific Bulletins Post transaction reviews
Business Hotline Microsites/Onlne Tools Soft Skills Training KM/IT Consultancy
2000
Standard Training Seminars E-learning
Webinars
Vanilla Legal & Regulatory Reporting Invested Time
1500 Updates

1000

500

0



Valuing Value-Add

Risk Management
“helping you to identify and manage legal risk on behalf of your clients”

Risk Management Scores
4000

3500

3000

Industry Specific
2500 Microsites/OnlneBespoke Training
Bulletins Post transaction
Tools reviews
Legal Secondees Legal Advisory Round Table
2000
Hotline Discussions
Support Secondees Vanilla Legal & Standard Training
Regulatory Updates E-learning
1500 Seminars
Business Hotline KM/IT Consultancy
Thought leadership
Legal Research piece Webinars
1000 Helpdesk Reporting Invested
Time

500 Soft Skills Training

0



Valuing Value-Add

Enabling
“enabling you to undertake work or tasks that wouldn’t have been possible if the service wasn’t provided”

Enabling Scores
4000

3500
Legal Secondees

3000 Support Secondees

2500

2000
Business Hotline Bespoke Training
Soft Skills Training KM/IT Consultancy

1500 Legal Research Helpdesk Industry Specific Bulletins Round Table Discussions Post transaction reviews
E-learning
Standard Training Reporting Invested Time
1000 Microsites/Onlne Tools Seminars Webinars
Updates

500

0



Valuing Value-Add

Appendix 2: Chart Showing Law Firm Investment plotted with Economy of
Scale

Overall Investment and Economy of Scale

11000 4000

10000
3500

9000
3000
8000
2500
7000
2000
6000

5000 1500

4000 1000
s
e
sk

ng
e

ns
s

s
es
s

S e ls
s

ar
ec
te
ee

tlin

w
tin

o
de

io
ni
de

in

vie
da

To
pi
nd

lle
Ho

ai

ss
m
lp
on

Up

p

re
Tr
Bu
co

e

cu
He

hi
ec

ry

in

n
Su l Se

rs

e

tr a D is
ry

nl
c
Re iso

t io
ng
tS

ok
h

ifi

de
to

O
rc

ac
ec

ni
dv
ga

sp
or

e
la

s/
ea
ea

bl
ai

ns
Sp

i te
gu
lA
pp

Be
Le

es

Ta
tl

Tr
os
ga

gh

Investment
lR

ry

rd

d
icr
st
Le

ou

un

st
l&

da
ga

du

M

Po
Th

Economy of Scale
Ro
an
ga
Le

In

St
Le
lla
ni
Va


Valuing Value-Add

Appendix 3: Plotting Knowledge vs Awareness Correlation

The good correlation between Knowledge and Awareness led us to combine these two value measures into a
single measure: Client Knowledge Value (CKV).

Knowledge vs Awareness (CKV)
Legal Secondees

3500
Support Secondees

3000 Legal Research Helpdesk

2500
Awareness

2000

1500 Thought leadership piece

1000

500
Bespoke Training

0 Round Table Discussions
0 500 1000 1500 2000 2500 3000 3500 4000
Knowledge


Valuing Value-Add

Appendix 4: Testing for Correlation between Efficiency vs Enabling

Although the “Legal Secondees” and “Support Secondees” data points are out of line with the rest of the
measures, we feel it is appropriate to create a single efficiency measure: Client Efficiency Value (CEV).

By becoming more efficient at an existing process, time is freed. This freed time, if the efficiencies are great
enough, can be used to enable additional work to be taken on. In the case of secondees, additional work is
enabled due the fact that the base resource (lawyer time) is increased, rather than due to improved
efficiency.

Combining the two measures may lead to a downgrade in existing “efficiency/effectiveness” scores, as
respondents take into account whether the efficiency savings are great enough to enable further work to be
taken on.

Efficiency vs Enabling (CEV)

3500

Legal Secondees
3000 Support Secondees
2500
Enabling Score

2000 Thought leadership piece
1500 Bespoke Training
1000

500

0
0 500 1000 1500 2000 2500 3000 3500
Efficiency Score


Valuing Value-Add

Appendix 5: Distribution of services by CKV and CEV

The comparison below shows the significant weighting of client value towards Knowledge rather than
Efficiency.

The services provided by Firms are generally good at passing on knowledge of legal issues (with the
exception of Legal Secondees and Standard Seminars), but that clients are poor at realising efficiencies from
these services.

This is surprising. One of the key aims of the provision of value-add services is to make clients’ lives “easier”,
i.e. save them time and make them more efficient. There would seem to be a great deal of work to do on
both sides in realising efficiencies from the gamut of value-add services available.

Knowledge (CKV) vs Efficiency (CEV)

Legal Secondees

Support Secondees
Client Efficiency Value (CEV)








Bespoke Training



Client Knowledge Value (CKV)


Valuing Value-Add

Appendix 6: Original Client Survey


Risk Management
Value Add Activity

Knowledge

Awareness

Enabling
1. Secondees 1 (excellent) 2 (very good) 3 (good) 4 (poor) 5 (very poor). Full
definitions listed on page 1.
1.1 Legal Secondees
Qualified lawyers 12345 12345 12345 12345 12345

1.2 Support Secondees
PSLs, Information Officers etc. 12345 12345 12345 12345 12345

2. Hotlines/Helpdesks
2.1 Legal Research Helpdesk
Direct access to library team or PSLs 12345 12345 12345 12345 12345

2.2 Legal Advisory Hotline
Direct access to associate or partner 12345 12345 12345 12345 12345
for internal lawyers
2.3 Business Hotline
Direct access to associate or partner 12345 12345 12345 12345 12345
for business colleagues

3. Know How Publications and Bulletins
3.1 Vanilla Legal & Regulatory
Updates
12345 12345 12345 12345 12345
Commentary on dates etc but no
added opinion
3.2 Tailored Industry/Client
Specific Bulletins 12345 12345 12345 12345 12345

3.3 Thought leadership
publications
12345 12345 12345 12345 12345
Industry leading commercially
aware, “macro” view pieces
3.4 Microsites/Online Tools
Contextualised content, such as for
12345 12345 12345 12345 12345
Data Protection, MiFID, etc.

4. Training and Roundtables
4.1 Standard Training Seminars
Open seminars, i.e. where clients
attend a general seminar at a firm’s 12345 12345 12345 12345 12345
offices


Valuing Value-Add


Risk Management
Value Add Activity

Knowledge

Awareness

Enabling
4.2 Bespoke Training Seminars
Seminars exclusively for your
12345 12345 12345 12345 12345
company. Most usually held at your
own offices at your request.
4.3 Round Table Discussions
Small group discussions about
12345 12345 12345 12345 12345
current industry topic, Legal &
regulatory landscape, for example..
4.4 Soft Skills Training
Presentation skills, drafting skills, 12345 12345 12345 12345 12345
etc.

4.5 E-learning
On-line delivery of standard courses 12345 12345 12345 12345 12345

4.6 Webinars
Live, web based training 12345 12345 12345 12345 12345

5. Miscellaneous Activities 1 (excellent) 2 (very good) 3 (good) 4 (poor) 5 (very poor). Full
definitions listed on page 1.
5.1 Post Transaction Reviews
Discussion about lessons learned 12345 12345 12345 12345 12345
following major transaction

5.2 Reporting Invested Time
Law firm sharing with you the 12345 12345 12345 12345 12345
amount of uncharged time

5.3 KM/IT Consultancy
Advice from the firm on how to
12345 12345 12345 12345 12345
organise, collect, disseminate know-
how


Valuing Value-Add

Appendix 7: Suggested modifications to the original Client Survey

We received some suggested enhancements to the survey, namely other services to consider, during the
research process. For consistency none were implemented but they are recorded here for completeness.

Suggested service Comment

Relationship management We question whether this should be considered “value-add” given there
is a clear revenue generating emphasis.

Use of facilities A fairly obvious omission from the original survey and should be
included in any further studies.

Assistance with precedent This was discussed in the client session and it was concluded that this
projects type of project should be considered as part of the Support Secondees
service.

Narrow “Post transaction For KM purposes the ideal would be for law firm lawyers to participate in
review” as “independent the process. This would ensure a two-way exchange of knowledge.
review” Independent review is however included in this service category.

Include general/ practice We agree and in subsequent studies general management/practice
management within KM and management type consultancy should be included as a service category.
IT consultancy


Valuing Value-Add

Appendix 8: Original Law Firm Survey

Scarcity of resources

Economies of scale
Level of expertise
Time investment
Value Add Activity

1. Secondees 1 (nil/little investment) 2 (moderate 1 = high
investment) 3 (high investment) 4 (very economy of
high investment) scale, 4 = low
economy of
scale
1.1 Legal Secondees 1234 1234 1234
Qualified lawyers 1234
(Assume 6 month period)
1.2 Support Secondees 1234 1234 1234
PSLs, Information Officers etc. 1234
(Assume 1 month period)
2. Hotlines/Helpdesks
2.1 Legal Research Helpdesk 1234 1234 1234 1234
Direct access to library team or
PSLs
2.2 Legal Advisory Hotline 1234 1234 1234 1234
Direct access to associate or
partner for internal lawyers
2.3 Business Hotline 1234 1234 1234 1234
Direct access to associate or
partner for business colleagues

3. Know How Publications and Bulletins
3.1 Vanilla Legal & Regulatory 1234 1234 1234 1234
Updates
Commentary on dates etc but no
added opinion
3.2 Tailored Industry/Client 1234 1234 1234 1234
Specific Bulletins
3.3 Thought leadership 1234 1234 1234 1234
publications
Industry leading commercially
aware, “macro” view pieces
3.4 Microsites/Online Tools 1234 1234 1234 1234
Contextualised content, such as
for Data Protection, MiFID, etc.

4. Training and Roundtables


Valuing Value-Add

Scarcity of resources

Economies of scale
Level of expertise
Time investment
Value Add Activity

4.1 Standard Training 1234 1234 1234 1234
Seminars
Open seminars, i.e. where clients
attend a general seminar at a
firm’s offices

4.2 Bespoke Training 1234 1234 1234 1234
Seminars
Seminars exclusively for your
company. Most usually held at
your own offices at your request.
4.3 Round Table Discussions 1234 1234 1234 1234
Small group discussions about
current industry topic, Legal &
regulatory landscape, for
example..
4.4 Soft Skills Training 1234 1234 1234 1234
Presentation skills, drafting
skills, etc.

4.5 E-learning 1234 1234 1234 1234
On-line delivery of standard
courses

4.6 Webinars 1234 1234 1234 1234
Live, web based training

5. Miscellaneous Activities 1 (nil/little investment) 2 (moderate investment) 3
(high investment) 4 (very high investment)
5.1 Post Transaction Reviews 1234 1234 1234 1234
Discussion about lessons learned
following major transaction

5.2 Reporting Invested Time 1234 1234 1234 1234
Law firm sharing with you the
amount of uncharged time

5.3 KM/IT Consultancy 1234 1234 1234 1234
Advice from the firm on how to
organise, collect, disseminate
know-how


Valuing "value-add" services received from Law Firms

Recomendados

Recomendados

Mais conteúdo relacionado

Destaque

Destaque (6)

Semelhante a Valuing "value-add" services received from Law Firms

Semelhante a Valuing "value-add" services received from Law Firms (20)

Último

Último (20)

Valuing "value-add" services received from Law Firms