1374th Edition: LawNewsIndex is a UK based Law,
Justice, Legislation & Rights related daily news & legal articles
archive brought to you by TheLawMap
FOCUS OF THE DAY: At a time when “the cost of legal services has generally been allowed to rise to unsustainable levels”, lawyers and the clients need to reconnect the four key ingredients that go into the purchase of legal services – cost, price, value and relationship – Professor Stephen Mayson has argued. A key element is that law firms must “constantly work and innovate to keep their costs as low as possible, consistent with their intended client-base and position in the market”. This did not mean it was just about efficiency, he continued. “But it certainly all starts with efficiency: without it, a firm will not have kept its cost-base within reasonable bounds, or then its pricing within market expectations; and without cost-efficiency, there is little scope for client perceptions of value for money, or a sound basis for a continuing relationship.” Full story - Legal Futures
FOCUS OF THE DAY: At a time when “the cost of legal services has generally been allowed to rise to unsustainable levels”, lawyers and the clients need to reconnect the four key ingredients that go into the purchase of legal services – cost, price, value and relationship – Professor Stephen Mayson has argued. A key element is that law firms must “constantly work and innovate to keep their costs as low as possible, consistent with their intended client-base and position in the market”. This did not mean it was just about efficiency, he continued. “But it certainly all starts with efficiency: without it, a firm will not have kept its cost-base within reasonable bounds, or then its pricing within market expectations; and without cost-efficiency, there is little scope for client perceptions of value for money, or a sound basis for a continuing relationship.” Full story - Legal Futures
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