Objection, Your Honor
A Bankruptcy Boom
Hedge Funds Face Few Limits, Even Now
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“We certainly always encourage dialogue with clients,” said Westra. “Law firms in general have got to rethink their models. Firms have historically focused on providing excellent service in a timely manner. I think efficiency has been a third concern.”
David Rosenblatt, managing partner of Boston-based Burns & Levinson LLP, is in favor of more in-depth conversations with clients around pricing, but he said he is skeptical whether the index is the way to do that.
“I would question the validity of coming up with some type of numerical rating system for a firm because of the nature of legal services,” said Rosenblatt. “It’s not a consumer product like a car or a refrigerator.”
Another aspect of the system, the fact that the reviews will largely remain a secret from law firms, seems counterintuitive to the ACC’s goal of changing the billing practices of firms by having open conversations, according to one local partner who did not want to be named. Meanwhile, many in-house counsels are thrilled with the opportunity to give feedback about all aspects of working with their law firms.
“I think it’s definitely going to put law firms on notice that in-house counsel are really thinking in these terms and paying attention in a comparative sense,” said Christopher Mirabile, current president of the ACC’s Northeast chapter and a Boston-area angel investor. “I think it does have the potential to upset the order a little bit.
Unlike other ratings systems, such as the peer-reviewed Martindale-Hubbell ratings, the Value Index could represent a chance for law firms to make real changes and improve relations with their clients, according to some.
“I could envision (the system becoming) the J.D. Power of the legal-services industry,” said Jeff Coburn, managing director of the legal-services consultancy Coburn Consulting LLC in Boston.
Lisa van der Pool is a staff writer for the Boston Business Journal.
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