The Value-Able Law Firm: Delivering Client-Focused, Higher-Value Legal Service for Clients and Law Firms (Paperback)

The Value-Able Law Firm: Delivering Client-Focused, Higher-Value Legal Service for Clients and Law Firms By Steven Lauer, Kenneth Vermilion Cover Image
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Satisfying client demands and meeting client expectations is essential for a law firm to succeed in today's ever-changing legal climate. Corporate clients are demanding higher-value legal service because they have seen their legal fees continue to escalate without a demonstration of increased, proportionate business value. The key to long-term success in the legal profession revolves around "client centricity." To help lawyers understand the importance of what the client values, The Value-Able Law Firm provides a new approach to analyzing and discussing, both internally and with clients and potential clients, the issues related to defining, measuring, and implementing higher-value legal service. The chapters are based on the concept of value-related qualities, or VRQs--that law firms can use to reorient their service so that the client's interest and goals--as defined by that client--serve as the lodestars of the firm's service and effort. How can you successfully approach the challenge of defining and delivering high-value legal service? The Value-Able Law Firm begins with the basics, recognizing that value represents the relationship between the "cost" of something and the "benefit" that one realizes on account of it. In the context of providing legal service, the primary benefit of the service must be redound to the benefit of the client. To help you satisfy your clients' demands and meet their expectations, this essential resource provides you with an approach that is simple, practical, and consistent and that addresses: - Defining, delivering, and measuring value- Incorporating value-related qualities (VRQs)- The client's view on value delivery- How a law firm provides value and becomes a client-centric firm- The establishment of a productive, value-able relationship for both client and firm- And much moreThe benefits of incorporating VRQs into a law firm's service delivery can include improved client relationships, enhanced client satisfaction, and more efficient and effective representation. This guide discusses how you can set your firm up to succeed in the increasingly competitive environment for corporate representation.

About the Author

Steven Lauer, Charlotte, NC, is a former in-house counsel who now assists corporate law departments to realize greater value from their companies' relationships with external service providers, including law firms. Kenneth Vermilion currently is the principal in The Vermilion Group Strategic Legal Management LLC in Cleveland, Ohio. He specializes in providing middle market legal departments strategic planning and operational guidance. Previously, he was a founding director in the Houston office of Duff & Phelps Legal Management Consulting practice.

Product Details
ISBN: 9781641051743
ISBN-10: 1641051744
Publisher: American Bar Association
Publication Date: December 7th, 2019
Pages: 168
Language: English