Digital White Papers

December 2013: Business and Financial Management

publication of the International Legal Technology Association

Issue link: http://epubs.iltanet.org/i/231030

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NEGOTIATING WIN-WIN FEE ARRANGEMENTS by Stuart J T Dodds of Baker & McKenzie Negotiating Win-Win Fee Arrangements In early October 2013, I was fortunate enough to be on a panel with Toby Brown and John Strange — both are strong proponents of pricing and project management disciplines within law firms — as part of the Legal Marketing Association's (LMA) P3 conference. The topic of the panel was "Getting the Work … Profitably: Negotiating Win-Win Fee Arrangements." Indeed, this is a topic that continues to vex law firm and law department clients. How can we develop mutually beneficial fee arrangements under the constraints of the new normal? NEGOTIATING THE "RIGHT" WAY For those who have a pessimistic view of negotiations (and there are a few of you out there) the process can be thought of as one or more of the following: •A personal attack on the value that each party brings to the other (law firm/ law department/ client) •A way for one party to exert more control •A form of rejection •A block to developing stronger relationships

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