This discussion is intensifying with lots of opinions about how to bring the two disparate parties back together.
New York (Vocus) July 29, 2010
Gerson Lehrman Group (GLG), the global marketplace for independent expertise, is amplifying discussion in the legal industry to help bridge the expectations gap between law firms and corporate general counsel. GLG invited Council Member Bruce MacEwen, founder and publisher of Adam Smith, Esq., to author a thought piece on insights captured in a recently commissioned GLG survey that underscored the increasing importance corporate counsel place on outside lawyers’ deep understanding of their business challenges and industry dynamics.
“The economic turmoil of the last 18 months has exposed new challenges in the relationship between law firms and in-house counsel on matters of client service and value,” said Richard Gardner, director of business development for Gerson Lehrman Group. “To understand these challenges and potential solutions, we invited Bruce MacEwen to lend his expertise to the discussion. The result is a provocative exploration of the issues at hand with several suggested solutions for law firms to better service their corporate clients.”
The paper, entitled “Differentiating Your Firm Through Business Insight: The Role of Domain Expertise,” addresses the conventional “big law” business model and flips it with perspectives garnered from the economic turmoil beginning in 2008. MacEwen reflects on the impact of cost pressures, the disconnect in client service, law firm business development practices, and ongoing legal industry challenges.
“Writing this piece for Gerson Lehrman Group exemplified opportunities for outside counsel to improve their relationships with existing clients and, with some changes to their business development approach, to stand out from the crowd with prospective clients,” said Bruce MacEwen, founder and publisher of Adam Smith, Esq. “This discussion is intensifying with lots of opinions about how to bring the two disparate parties back together.”
To access a complementary download of the Gerson Lehrman Group white paper authored by Bruce MacEwen, of Adam Smith Esq., visit http://www.glgroup.com/law.
About Adam Smith, Esq.
Adam Smith, Esq., LLC provides high-end consulting services to the legal profession, focusing on law firms, legal professionals and legal vendors globally. Areas of service include financial management and mergers and acquisitions to client retention programs and compensation. Adam Smith, Esq. provides insights on emerging trends and implications of external factors, best practices and the impact of cultural considerations.
About Gerson Lehrman Group
Gerson Lehrman Group provides technology and services to support a marketplace for expertise. Since 1998, its platform for consultation and collaboration has helped the world's leading financial services firms, consultancies, corporations, and nonprofits find, engage, and manage experts in a broad range of industries and disciplines. In 2007, the company launched services to the legal sector.
Gerson Lehrman Group's unparalleled network of the world's leading expert consultants, known as the Gerson Lehrman Group Councils, includes more than 250,000 subject-matter experts who educate and provide insight to decision makers through a wide range of consulting methods, including telephone consultations, expert surveys, and seminars. For more information about Gerson Lehrman Group, please visit http://www.glgroup.com.
# # #