AdvanceLaw’s GC Thought Leaders Experiment Hopes to Tap into What GCs Are Thinking
By Sameena Kluck
Preferred provider panels and alternative fee arrangements have been two of the most frequent changes that general counsel have put into place in the last decade to control their legal spend on outside counsel and to improve the client/firm relationship. However, early results from AdvanceLaw’s GC Thought Leaders Experiment shows that strategy is not always providing the results GCs want.
AdvanceLaw — a group of 180 general counsel who identify and retain top lawyers from firms that are vetted for quality, client service and innovation — held a webinar last week to release some eagerly-awaited early findings, based on eight months of research from its GC Thought Leaders Experiment. The 18-month experiment with 28 GCs was began to address GCs’ desire for service innovation and how GCs, law firms and law firm partners could determine what behaviors drive the best results, said AdvanceLaw founder Firoz Dattu, adding that the legal market doesn’t sufficiently motivate innovation and performance.
Law firm leaders and many others in the industry have anxiously watched and anticipated the AdvanceLaw findings and any resulting ramifications that could impact outside counsel hiring and retention.
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