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Achieving Alignment Inside and Out: Portfolio of Legal Services on Flat Fee and Disciplined Internal Planning Process
Insights from Christopher Reynolds, Group Vice President and General Counsel for Toyota Motor Sales, USA, Inc.
Toyota Motor Sales, USA, Inc.’s law department migrated late last year from a traditional ‘fee-for-services’ model for handling the company’s employment work to a ‘flat fee’ for handling the department’s employment litigation and counseling portfolio. “The portfolio arrangement requires a deeper dive by outside counsel into the company’s operations culture and focuses attention in the right and in an efficient way on costs and on how services are provided,” says Christopher Reynolds, Group Vice President and General Counsel for Toyota Motor Sales, USA, Inc.
Read more of Christopher Reynold’s perspective on the “Portfolio of Legal Services on Flat Fee and Disciplined Internal Planning Process.” Download here.
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ACC Value Challenge* – Tips and Actions
ACC Value Challenge Weekly Tip - Managing Legal Budgets: Nail the Basics
Check out the ACC Value Practice Tip of the Week -- updated weekly on ACC.com. This week’s tip focuses on managing legal budgets and highlights practices implemented by CIGNA’s law department. CIGNA’s practices can be accessed here.
Action Idea: Open Meetings with the ‘ACC Value Minute’
Consider opening meetings with your staff, clients and outside counsel by taking a moment to focus on a concrete practice you’ve implemented (or that others have implemented) that focuses on value in the legal service relationship. Need ideas for the ACC Value Minute? Check out the ACC Value Challenge Weekly Tip or the ACC Value Practice resources posted on the ACC Value Challenge Resource page.
Do Law Firms Pay More Attention to Profits Than Client Satisfaction? Send Them a Message.
The ACC Value Index is a new tool to measure client satisfaction with law firms. Score your firms and encourage your staff to evaluate the law firms your company engages based on effectiveness, expertise, efficiency, responsiveness, budgeting and results. When the ACC Value Index launches at the Annual Meeting in October, members will be able to search the Index to find valued firms by name, location and matter type. The more evaluations we receive, the more robust and useful this tool will be for all members, and as a tool to advance the ACC Value Challenge. To submit evaluations, go to www.acc.com/evaluation.
*"ACC Value Challenge" is a registered trademark.
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Still Time to Register Your Department for ACC’s 2009 Annual Meeting
October 18-21, 2009 | Boston, MA | Hynes Convention Center
Your legal department will have an opportunity to join other in-house counsel from around the world for CLE/CPD sessions and networking opportunities, while discovering new legal solutions and sharpening your skills. There is still time to register for ACC’s 2009 Annual Meeting, and the process is as simple as 1-2-3.
Also, if your department’s schedule or availability is limited, ACC has options:
• Single-day Registration
• Live Webcasts
Visit am.acc.com to click, fax or mail your department registrations today!
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In-House Counsel Reject SEC Argument on New “Creator” Liability Standard
On September 16, 2009, ACC filed an amicus brief in the U.S. Court of Appeals for the Second Circuit urging the court to reject Securities and Exchange Commission’s (SEC) arguments for a new standard that could interfere with the ability of issuers to receive advice from counsel on issues involving securities disclosures. To read the full ACC amicus brief, visit http://www.acc.com/advocacy/upload/ACC-Amicus-Pacific-v-Mayer.pdf. For additional information related to this filing, visit: www.acc.com/advocacy/news.
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Corporate and Securities Committee Comments on SEC’s Proposed Proxy Disclosure/Solicitation Rules
ACC’s Corporate and Securities Committee (CSL), in a letter filed September 15, 2009 registered concerns over several aspects of the SEC’s proposed Proxy Disclosure and Solicitation Enhancements. CSL argues that the rules as proposed “will add pages to the proxy statements without adding ant real value to shareholders.” For details check here.
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ACC in the News
Learn more about media coverage of ACC when you visit ACC in the News. Read the latest articles on the recent Textron ruling and work product issue, and law firm billings, including:
• ACC Chair Dan Fitz's comments on changes that companies can make to the law firm billing model in the Wall Street Journal’s "'Billable Hour' Under Attack."
• ACC President Fred Krebs's and ACC Advocacy Chair Thomas Sabatino's
comments on the ramifications of the recent Textron ruling in the Wall Street Journal’s “In-house Counsel Alarmed by Textron Ruling."
• ACC Senior VP and GC Susan Hackett's comments on firms helping
in-house counsel to reduce outside counsel fees, and best practices in CFO Magazine’s “Legally Blind.”
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