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Pricing – Aligning Client and Firm Interests

Thomson Reuters Legal Executive Institute By Kimberly Leach Johnson

Below is an excerpt:

It’s no surprise that pricing discussions with clients can be difficult. However, when a firm can align its interests with clients’ interests, a true partnership can exist.

Most general counsels want a fixed fee in order to drive down their costs and be able to budget for a predictable legal expense; however, Paul Jones, the general counsel of Harley-Davidson, is an exception. About four years ago, he asked various firms to respond to a Request for Proposal (RFP) for a fixed fee over three years—not to reduce his costs, but for value and efficiency purposes.


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