Post # 878 – May 4, 2021
Fixing Firm Compensation Models:
To Fuel Value Focused Legal Delivery Systems
This article evolved from the collaborations between a Fortune 500 GC, a Managing Partner, a leading practitioner in alternative fee arrangements and an international law firm management consultant. It was initially written in 2009 and pretty much forgotten about until now.
Then a European-based lawyer and author of “Billion Dollar IP Strategy” reached out and graciously commented “I came across this article and it is revolutionary even today. The fact that this article still looks fresh points to the reality that the profession has hardly changed in the intervening years.”
Is that true? We welcome your observations and comments.
In this article, the four of us attempted to explore how a progressive firm might deal with one of the great impediments to adopting any new change – your firm’s compensation system. And while there is no one standard framework or precedent to follow, each of our four propositions is intended to provoke you to look at this challenge through a slightly different lens.
Read the complete article - HERE