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Fear of losing good firms if you squeeze their costs

I have recently worked with two global companies that want to pinch outside counsel fees. What holds them back, however, is a manifest fear of alienating their preferred law firms. These main brand companies’ top lawyers worry out loud that if they push to save a few percent on their outside counsel bills, the firms they really want representing them will walk.

I just can’t accept that this risk is worth worrying about. To the individual partner in charge of the relationship at one of the firms, this major, lucrative representation is far too important to walk away from.

There may be a very few law firms that say to brand name clients, “Pay our full freight, or ship off,” but I think it is rare. I recommend that law departments push for economies even from their prestige firms