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Preparing for Reverse Auctions

By William C. Cobb
January 31, 2013

Articles have started to appear from general counsel regarding reverse auctions. The title of one recent article, “Let the Competition Begin,” appeared in The Texas Lawyer on Aug. 6, 2012. The focus of the article was on the transition from hourly billing to fixed-fee providers. Although such price sensitivity is typically for brand-name and commodity services, law firms must still respond. How does a law firm prepare? Here is what needs to be done.

What Is a Reverse Auction?

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