Using reverse auctions when choosing a law firm is one of the most effective strategies available to in-house legal teams looking to:
- Encourage competition.
- Increase transparency.
- Level the playing field for firms competing for work.
When combined with alternative fee arrangements, reverse auctions are also historically a very effective way to avoid unnecessary costs.
Thousands of reverse auctions have been run on the PERSUIT platform, creating a large data set that shows what you can expect from a reverse auction, on average.
For example, on average, reverse auctions on PERSUIT create 9% lower fees overall.
8 Examples of Reverse Auctions on PERSUIT
Keep scrolling 👇 to see eight real examples of reverse auctions run on the PERSUIT platform: