Are lawyers worth their weight in gold?
20 March 2008 | Steve Bagshaw
According to The Lawyer (25 February) Barrister fees for core counsel on the Diana inquest will reach almost £5 million, with rates for the QCs a huge £575 per hour.
But it’s not just high-profile cases which are raking in big dollars for lawyers, in News this issue, SM looks at a recent Evershed’s survey which found that more than half of businesses believe the growth in legal fees is unsustainable and law firms need to show better value for money.
Have you ever had a nasty surprise when buying legal services?
Any advice for purchasers on how to get better VFM from lawyers?
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Working within Local Government Procurement, there are a number of pieces of advice that have been given to me over the years, the best two are
1) When asking for comments by tenderers on terms and conditions (say as part of a tender process) not only should the comment be asked for but the suggested drafting as well. This will save time and effort on the part of your legal advisors, who seem to work best commenting on rather than creating new clauses.
2) When putting forward queries to legal firms as part of an ongoing briefs be very specific in what you require and ask for an estimate of the time to undertake the task before confirming that they proceed.