Adapting to a sophisticated business market
We recognise the need for the legal profession to adapt to what is a more sophisticated and specialised business market. We acknowledge the critical need for lawyers to provide their advice in a more commercial context and be prepared to convince their clients of the value of the services they provide.
For this reason, we believe strongly that you cannot be ‘all things to all people’ but instead need to define your services clearly and provide your clients with the appropriate support and referral arrangements where required. We have developed key referral arrangements with other specialist legal providers and where required we can provide a project management service to ensure that the client obtains the relevant advice in the context of the particular transaction.
We believe it is critical that legal advice is not provided in isolation without any clear reference to the client’s business or commercial requirements. That is why we are interested in understanding our clients’ businesses and how they work. We actively encourage an initial dialogue prior to any instruction in which we can explain how we work and in turn learn how the client’s business works.
Without this process we think it is very difficult to provide meaningful pricing for the legal work required. Gone are the days of the hourly rates and the uncomfortable surprise at the end of the transaction. We understand that like any other commercial service the customer requires certainty in terms of cost. As far as possible we provide a fixed price for each piece of work we carry out for our clients.