Peer to Peer Magazine

PEER TO PEER: THE QUARTERLY MAGA ZINE OF ILTA BEST PRACTICES 18 For many firms, survival in this competitive environment means either shedding jobs to cut costs or finding innovative ways to improve efficiency and profitability without sacrificing the quality that clients expect. LeClairRyan recently faced such challenges related to the Discovery Solutions Practice acquired through our 2008 merger with Wright Robinson Osthimer & Tatum. Although the practice was profitable, highly synergistic with our litigation business and added tremendous value for our clients, shifting market conditions forced us to think about the future to stay competitive. We wondered whether we should continue to invest millions annually to upgrade and maintain our existing technologies or partner with a third party for our litigation support needs and find a better way to use our capital. After much consideration, we ultimately embraced insourcing with a third party. After six months of working together and continuously evaluating the results, the mutually beneficial partnership has performed beyond our expectations, and we're convinced other firms could experience similar successes with insourcing using our experience as a model. Here are some of the questions we asked ourselves and our prospective partners that helped cement our decision to insource. WHAT CRITERIA SHOULD BE USED FOR EVALUATING INSOURCING PARTNERS? Several important items should be on your checklist: • A cutting-edge technology platform that delivers high quality and efficiency • Expertise and a positive track record in litigation support, and proven best practices • Solid capitalization with top investors — an indication of financial solvency, market success and ability to keep pace with new technologies • Dedicated and professional executive, sales and management staff • A full end-to-end solution of litigation support services, including hosting, processing and document review, to minimize the number of vendors • Additional services that could be avenues of future growth, such as M&A, IP, contract management and cybersecurity WHAT CAN I EXPECT FROM MY INSOURCING PARTNER DURING THE ONBOARDING PROCESS? The first step is to have an assessment period where the partner analyzes existing technologies, workflows and business processes; the size, skills and competency of the staff; and the firm's business practices. This also includes recommendations for improvements in each area, such as right- sizing or relocating the staff. During this period, the partner will train the insourced employees on its technologies and business processes, and explain the inner workings of the new firm and what About the Author David C. Freinberg is the Chief Executive Officer of LeClairRyan, a law firm that provides business counsel and client representation in corporate law and litigation. David focuses his practice on commercial real estate transactions. His real estate practice focuses on the structuring and negotiation of acquisitions, sales, leasing, joint ventures and financings. He has extensive experience in commercial leasing, representing landlords and tenants of office, retail, industrial and warehouse spaces. In addition to his real estate practice, David counsels clients on general business matters such as entity formation, business acquisitions, and sales and financings. Contact him at david.freinberg@leclairryan.com. Fortune Favors the Bold Best Practices for Insourcing It is a truth, even if difficult for some to accept, that the golden age of the law firm is behind us. The once elite guild of expensive master legal craftsmen populating prestigious firms now faces increased competition from less expensive law firms and well-capitalized legal services organizations to deliver enhanced services better, faster and cheaper with more predictable pricing.

• Cover