What clients want – collaboration, not competition
Creating Panel Dream Teams
We’re starting to see an interesting development in the law firm panel arrangement, driven by the purchasing power of the client.
Clients are starting to ask their panel law firms – how are you collaborating with other legal service providers to create better value for us? That’s a pretty scary thought for law firms – collaboration between legal service providers. Gulp.
What to do? One response we’ve seen so far is for BigLaw to align itself with NewLaw. DLA Piper with LOD/AdventBalance, Gilbert & Tobin with LegalVision, Norton Rose with LawPath and Ashurst with Axiom.
Question – how far will clients go in demanding collaboration between the BigLaw providers themselves? Would clients insist on it?
Here’s a radical thought. A marketplace where clients can pick and choose the best lawyers from separate panel firms and ask them to work together. On a special project, for example. The Panel Dream Team.
Clients would like to see that. And they will.