LexisNexis to Lead Industry Dialog on Price Negotiations at Sandpiper Partners’ Matter Pricing and Profitability Conference
Second Annual Conference Explores Alternative Pricing Structures and Fee Negotiation Strategies between Law Firms and Clients
November 15, 2012 — NEW YORK, November 15, 2012 – LexisNexis® Legal & Professional (www.lexisnexis.com), a leading provider of content and technology solutions, will sponsor Sandpiper Partners, LLC’s Second Annual “Pricing and Profitability Conference” on November 30, 2012 in New York City. The conference will focus on the “anatomy” of a fixed fee negotiation, providing an actionable framework law firms can use in negotiating constructive fee arrangements with corporate clients. Attendees will also learn project management tips to help them achieve desirable legal outcomes while appropriately aligning firm resources to make such engagements profitable.
“While many alternative fee arrangements have been explored in recent years, it is increasingly clear that fixed fee arrangements are emerging as a favored choice by corporate legal clients,” said conference moderator, Russ Haskin, director of consulting and services at LexisNexis® Redwood Analytics®. “The focus of our November 30 event will be on highlighting for law firm leaders strategies and metrics they’ll need to leverage in order to drive effective fixed fee negotiations that work for all parties to the matter.”
The conference comes on the heels of a recent survey by ALM Legal Intelligence and sponsored by LexisNexis Legal & Professional, “Thinking Like Your Client: Strategic Planning in Law Firms.” That survey examined Am Law 200 law firms across the U.S. and found that while profitability is a key priority, fewer than half of these firms are actively focused on a non-billable hour strategy, and more than half can’t yet tell whether or how they can make AFAs work for their firm.
Conference faculty and panelists will include managing partners and senior leaders from top U.S. law firms as well as distinguished corporate counsel, including:
- Edward P. O’Keefe, Legal COO & Deputy General Counsel for Technology at Bank of America Corporation
- Erin Hill, Chief Operating Officer, Legal & Compliance at JPMorgan Chase
- Loren Brown, Co-Chair, Product Liability and Mass Tort Practice, DLA Piper LLP
- Jacob W. Buchdahl, Partner, Susman Godfrey L.L.P.
- Steven J. Gartner, Co-Chairman, Willkie Farr & Gallagher LLP
- Mary J. Hackett, Partner, Reed Smith
- Russ Haskin, Director of Consulting and Services, LexisNexis – Redwood
- Anthony Licata, Chief Financial Officer, Dechert LLP
- Charles J. O’Donnell, Chief Operating Officer, Duane Morris LLP
- Purvi Sanghvi, Manager of Financial Business Analysis, Patterson Belknap Webb & Tyler LLP
- David Fries, Chief Client Service Officer, Orrick, Herrington & Sutcliffe LLP
- Thomas E. Doughty, International Director, Jones Lang LaSalle
Panelists will begin by identifying the types of information – including a precise definition of the scope of work; the elements of the task; historic data from past matters on hours, costs, fees, and utilization – in order to formulate a negotiating strategy. Attendees will then participate in simulated negotiations, playing various roles representing both law firm partners as well as corporate counsel and advisors, while receiving tips and critiques from conference faculty. Finally, panelists will highlight best practices in drafting alternative fee arrangements – including finalizing language addressing common contingencies and exceptions – and leveraging metrics, monitoring, project management and technology to maximum effect in order to resource the matter properly and profitably.
Conference attendees will include managing partners and other senior law firm leaders, as well as pricing and business development experts within law firms. To learn more about the conference and to see a full list of speakers, please click on the link below:
Second Annual Roundtable Pricing and Profitability Conference: http://bit.ly/ProfitabilityConf
Date: Friday, November 30, 2012
Location: HSBC Conference Center, 452 Fifth Avenue, NYC (Enter at 40th Street)
Time: Breakfast 8:30 – 9:00 A.M.; Program 9:00 – 1:00 P.M.; Lunch 1:00 – 1:30 P.M.
Who Will Attend: Legal professionals responsible for fee negotiations, including Managing Partners, Partners, CFOs, COOs, Administrators, and financial experts
About LexisNexis Legal & Professional
LexisNexis® Legal & Professional (www.lexisnexis.com) is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis harnesses leading-edge technology and world-class content, to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. Part of Reed Elsevier, Inc. LexisNexis Legal & Professional serves customers in more than 100 countries with 10,000 employees worldwide.
LexisNexis helps professionals at law firms and legal departments of all sizes manage the business element of their practice with innovative software and mobile solutions for customer relationship management, competitive intelligence gathering and assessment, time and billing management, matter management, client analysis, legal holds and more.