Remaking News of the Week: BigLaw discounting

Today Remaking News of the Week: BigLaw discounting draws attention to a podcast that hasn’t – at least IMO – received the attention it should.

Question: If I’m right, why might this be so? Answer: The closed ranks and conscious denial of BigLaw partners and leaders the world over.

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Why and how to switch to value pricing

Why and how to switch to value pricing was published as 15 big questions for law firms making the switch to value pricing on John’s My Perspective blog on December 6, 2018 and before that on Law Management Hub on November 21, 2018.

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Law Firm IPOs: Pricing on a Wing and a Prayer

Back in June 2017 I wrote about the views of Jon Molot, Chief Investment Officer at Burford Capital on BigLaw partnerships, their (lack of) capital structure and the deleterious effects of short-termism.

At Validatum, we usually begin our Partners Pricing Masterclasses with one of the most evocative of Warren Buffet’s quotes, “The single most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.”

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Acting on price sensitivity in BigLaw firms

In Acting on price sensitivity in BigLaw firms, Richard Burcher writes: One of the many shortcomings in our current approach to pricing legal services is the preoccupation with merely pricing the job. While at face value this would appear to be all that is required, it is in fact only half of the calculation. The other half of the equation is pricing the client.

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Here be dragons writes Richard Burcher about fixed fees

Let us say at the outset that we are strong proponents of fixed fees, even in areas of work where they have not been particularly prevalent such as dispute resolution. We believe that they should be used much more than they are to the benefit of both firms and clients. Here’s why…

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Solicitors Regulation Authority consultation on price and other information

Through his research, Richard Moorhead, Professor of Law and Professional Ethics at University College London Faculty of Laws, provides deep and original insights into lawyers and the practice of law. Dialogue is privileged to feature Richard as a contributor. In his first contribution, Richard examines the issues of the price transparency of lawyers’ services from a policy perspective.  

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