Tips To Select The Right Outside Counsel Successfully

1. Set Expectations

Make price and mutual trust your most important factors when hiring your outside counsel. Communicate the value transparency to your legal counsel, even if it means having to hear the bad news first.

2. Help Your Outside Counsel Help You

A firm that knows your business very well and that has specialized experience in your company’s field will help foster a more successful dialogue with you. Your outside counsel should also be decisive and opinionated, and demonstrate logical reasoning for decision-making.

3. Money Talks

Consider alternative-fee arrangements. Discuss a flat fee for services and offer a bonus if expectations are exceeded or met before a deadline; this reduces the risk of price bargaining during fee negotiations.

4. Identify Current Conflicts

Err on the side of caution. Request that a conflict waiver be written and signed to help prevent any miscommunication down the road.