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The RED ZONE - Selecting Outside Firms
June 01, 2007
SELECTION in the Red Zone is the fourth and final criterion a law firm team needs to identify when pursuing a client. Just what concerns and experiences will be influencing final selection? The previous three are: HIDDEN DECISION MAKING RELATIONSHIPS AND RETENTION PERSONAL CONSIDERATIONS.Just because an in-house counsel recently moved from a competing law firm, do not assume he/she would retain them. Firms should compete in situations in which they might otherwise assume that the competition has an insurmountable advantage. Or if a potential competitor will be sitting in on your meeting, you should elevate the level of candor in your relationship with the buyer by simply asking the buyer how he or she would like you to handle confidential information – invite more substantive discussion. This shows you want to get down to business, talk strategy and not merely promote yourself and your firm. And by doing so you have raised the buyer's expectation that even this meeting will produce value irrespective of which firm is eventually hired. This value is also conducive to closing. It is the decisive moment. Firms attempting to sell their services are well advised to make the most of it.allan colman.
SELECTION in the Red Zone is the fourth and final criterion a law firm team needs to identify when pursuing a client. Just what concerns and experiences will be influencing final selection? The previous three are: HIDDEN DECISION MAKING RELATIONSHIPS AND RETENTION PERSONAL CONSIDERATIONS.Just because an in-house counsel recently moved from a competing law firm, do not assume he/she would retain them. Firms should compete in situations in which they might otherwise assume that the competition has an insurmountable advantage. Or if a potential competitor will be sitting in on your meeting, you should elevate the level of candor in your relationship with the buyer by simply asking the buyer how he or she would like you to handle confidential information – invite more substantive discussion. This shows you want to get down to business, talk strategy and not merely promote yourself and your firm. And by doing so you have raised the buyer's expectation that even this meeting will produce value irrespective of which firm is eventually hired. This value is also conducive to closing. It is the decisive moment. Firms attempting to sell their services are well advised to make the most of it.allan colman.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
CoStar Wins Injunction for Breach-of-Contract Damages In CRE Database Access Lawsuit
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.