Giving you a clear commercial edge.
Panel/Service Provider Analysis
Choosing a lawyer or firm
In a world of ever increasing competition, having the right professional at your elbow, and the right provision backing them up, can give you a clear commercial edge. However, from global corporates to SMEs, choosing which firm or individual lawyer to work with can be challenging. The vast majority of lawyers are very good people, with great integrity and ability, who take pride in their work and their client relationships, but it is perhaps an unavoidable feature of the market that each provider will ‘put their best foot forward’ and represent themselves in the most positive light they can (without, hopefully, promising something they can’t deliver at all!). What’s more, often even the most senior lawyers are unable to recognise their own weaknesses and blind spots. Taking all of this together it’s often hard to know who the right lawyer/firm for the job really is.
As a result there has often been a tendency for decision makers in larger businesses to ‘go for the bigger more expensive option because then I can’t be held accountable for making a ‘wrong decision’’ – that big name law firm and those big number fees may not always provide the best service/technical expertise (although they often do!), but they are seen as an insurance policy against claims of mismanagement, be it from shareholders or other members of senior management, should something go wrong.
A real time view
Businesses have responded to this potential inefficiency by implementing ever more effective panel systems. However, these ‘panel assessment systems’ can struggle to capture an accurate ‘up to the minute’ view of a given provider. This is most often a challenge when businesses are trying new things; post acquisition in a new sector; opening up in a new jurisdiction; implementing a JV in a new market; seeking funding through a new route, etc.
An informed decision
This is where Edward Drummond & Co can help. If you are in the process of assessing potential legal service providers outside of your ‘corporate comfort zone’ and do not wish to rely solely on the recommendations of existing providers or contacts, or the presentations of the lawyers you might work with, we are able to provide an objective insight into any providers you may wish to consider in respect of their track record, technical competencies and style of working. We do this by taking blind market samples of a broad range of firms and individuals and then, through comparison to one another, provide you with an additional assessment tool to aid your selection.
Contact us today to talk about how we can help you choose the right lawyer or law firm.
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