Legal Business

Are you selling judgement or process? Few modern law firms can excel at both

Charlie Geffen argues the legal market is segmenting between two diverging arenas

A few years ago the general counsel of one of the big banks told me that they only went to outside law firms for three reasons.

First to get advice on what to do. That could be on a deal, a dispute or some other objective of the bank. It requires senior time and is not particularly price sensitive. Let’s call that ‘advisory work’.