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In today's challenging, competitive business environment, finding qualified outside counsel with the right fee structures is a top priority for corporate counsel. Following is some practical guidance to help corporate counsel achieve this goal.
When retaining outside counsel, corporate counsel should focus on three key areas: 1) Conducting thorough research of the potential firm's reputation, particularly its billing practices; 2) Exploring flexible billing arrangements that are tailored to suit the nature of the engagement; and 3) Effectively communicating to create clear goals, strategies, and billing guidelines. By taking these steps, in-house and outside counsel can establish productive relationships that will help prevent unwanted surprises from appearing on the bill.
Targeted Research of the Potential Firm's Billing Practices and Reputation
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