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ACC Value Challenge: The Driving Force Behind Value and Change
Insights from Jeffrey, Carr Vice President, General Counsel and Secretary for FMC Technologies
“The existing model for legal service delivery is unsustainable, and
we've reached a critical milestone where the customers appear willing
to drive change,” Carr explains. “The current business model used by
most law firms is antiquated, inefficient and ineffective and it fails
to deliver value to the client by avoiding -- indeed by punishing --
those that leverage prior work product, streamline processes and focus
on profitability by cost reduction as opposed to top line revenue
growth.”
In this CLO Perspective, Jeff Carr, Vice President, General Counsel and Secretary for FMC Technologies, shares his perspectives on the ACC Value Challenge and its call to action. Carr is an ACC Board member and a member of the ACC Value Challenge Steering Committee.
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Interested in Taking Action to Improve the Relationship with Law Firms and Focus on Value?
If so, here are two tools to help:
• "Meet. Talk. Act.": A one-page primer with guidelines on how law departments and law firms can get started to
reconnect value to costs of legal services; and
• Covenant with Counsel: A draft covenant between law firms and clients that lists provisions to select from based on what works best for their particular needs.
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ACC Value Challenge Events
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ACC Top Ten: Top Ten Value Adds of Your ACC Membership
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ABA Improves Regulation of Law Firms Conflicts and Screening
ACC commended the American Bar Association (ABA) House of Delegates for passing amendments to the ABA Model Rule of Professional Conduct 1.10. The new rule provides a screening mechanism to facilitate firm conflicts management when lawyers change law firms or law firms merge. This will allow a law firm to represent a client without the consent of an incoming attorney's former client, and allow clients to continue their relationships with valued counsel, even if the lawyers’ firm merges with another firm that could present conflicts. To read more about this story, visit ACC in the News.
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ACC In-house Training Programs
As a CLO, increase the value you bring to your legal department by attending these upcoming educational opportunities at ACC. Visit us online at www.acc.com/education for more details and registration information.
• Executive Leadership Institute
Atlanta, GA, Apr. 20 – 22
• ACC Europe's 2009 Annual Conference
Geneva, Switzerland, June 7 – 9
• ACC's 2009 Annual Meeting
Boston, MA, October 18 – 21
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ACC News & Announcements
The New York Times Chimes in on Billable Hours
Law firms, clients and corporate counsel have a great deal to say about the billable hour given the current economy. In the New York Times article, “Billable Hours Giving Ground at Law Firms,” ACC President Fred Krebs explains why lawyers are having a touch time defending billable hours and how it all reached a “tipping point.”
Is a Junior Associate Worth $1,000 an Hour?
ACC Senior Vice President and General Counsel Susan Hackett gives comments on value-based billing in “Welcome to the Future: The 2011 Scenario and The End of Leverage.” Visit The AM LAW Daily to read her comments and the full story.
ACC Value Challenge Index, the New Legal Merit System
Blogger Rick Rawls referenced the ACC Value Challenge Index in relation to client satisfaction. The index was noted as a useful part of evaluation criteria, for merit based evaluations used for the improvement of the quality of work. To read the full post, visit MorePartnerIncome.
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