Competitive Intelligence: A Tool for Selecting Outside Counsel

• Posted by Geoffrey G. Gussis on November 7th, 2006


• Filed in Law Department Management

Barry Solomon’s recent article in the Corporate Counselor will help you select the best outside counsel for your company’s needs.  If you’ve "made a list, checked it twice but found out later who is naughty and nice", then you may want to read Barry’s article to pick up some tips:

"Competitive intelligence has long been used by corporate America to analyze trends, client feedback and marketing strategies to get an edge. It’s the newest buzzword among law firms to win more market share and retain clients. But it’s barely a whisper in law departments, at least when it comes to selecting outside counsel.

"The selection and evaluation of outside counsel remains highly subjective," says Daniel DiLucchio, principal at Altman Weil Inc., which provides management consulting services exclusively to the legal industry.

There are a number of reasons for the paucity of competitive intelligence in selecting outside counsel. While the idea that law is a business has been around for a while, it usually takes the legal profession longer than other industries to change. Moreover, it takes more time to review and analyze objective criteria versus calling a friend and asking for a referral. And as competition among firms has become heated, legal departments might have a tendency to sit back and reap the benefits."

Link: Competitive Intelligence: A Tool for Selecting Outside Counsel.