14 July 2017 at 13:09 BST

GCs form scheme to share data on law firms

Twenty-five general counsels from some the world's biggest companies have joined forces to share and sructinise data on the law firms they use and their results in a bid to see what firms and billing processes are most effective.

mikewaters

Called the GC Thought Leaders Experiment the heavy-hitting GCs will use the shared information to compare law firms in terms of performance, costs and whether expensive lawyers are comparitively actually worth the additional spend. Companies involved in the new scheme include MasterCard, PayPal, Panasonic North America, Sony Electronics, Flex, Petco, Keurig Green Mountain Inc, Rockwell Automation Inc and Avaya Inc.

Detailed data sharing

The data being shared is detailed and includes firm names, billing rates, billing arrangements, matter types, practice areas and relationship length with outside firms. The project is being run AdvanceLaw - a consultancy comprising of general counsel and invited law firms.

 
   
 
 
 

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