Points of Law: Unbundling Corporate Legal Services to Unlock Value - Harvard Business Review: "Traditionally, big law firms and corporate legal departments have enjoyed a close relationship—one that is based on both trust and regulation. Clients rely on firms to discern legal boundaries and the risks associated with misjudging them; counsel are under a professional obligation to identify and raise potential problems and to handle them competently and thoroughly. Most corporate legal work is outsourced, because it’s not cost-effective to employ enough in-house lawyers to meet companies’ diverse needs. And work is allocated by in-house lawyers, most of whom started their careers and were trained at law firms.
That close relationship is being disrupted. Company executives are much less patient with the status quo than they used to be; there’s a general sense that lawyers and their fees are out of control. It’s not just the size of any particular bill that irks executives; it’s that they feel they have little influence over what they spend and what they get for it—and that the accountability seems to be much less than what most other business services provide."
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