Hi there,

We’ve got competition! 🫣

And I couldn’t be more excited.

Yeah, I’m bonkers 🤪. For a lot of other reasons, but not this.

Here’s how I explained it earlier this week to my team.

Legitimate competition is a strong indication that the market is starting to shift from “push” to “pull.”

In tech startup speak, that means that rather than having to “evangelize” or “push” the market into understanding the value of our product, the market has more broadly begun to realize its value and “pull” our product into their current tech stack.

In other words…

Ordinary corporate legal teams at scale (not just the tech-enthusiast outliers) are starting to see the value of bringing transparency and competition to how they source their outside counsel.

As I said to my team, it’s when the competitors don’t show up that you need to start worrying, because it’s likely to be a sign that you’re not solving a real problem.

Of course, competition also means that we’ve got to up our already very strong game to stay ahead (and I’m more than confident we’re up to the task 💪 ).

Those competitors will also be helping us spread awareness that the existing paradigm in the marketplace for legal is a problem that desperately needs solving. 📢

And a little healthy competition helps bring renewed focus and energy to our “PERSUITs,” which we believe is good for everyone who stands to benefit from the work we’re doing to change the existing paradigm for engaging outside counsel.

If you’re still not convinced, I encourage you to check out our new cornerstone page on AFAs.

It highlights all of our best resources on AFAs. Including:

The many types of AFAs (they encompass a lot more than capped fees and collars)
What types of matters they can be used with (almost anything…even M&As and complex litigation)
Why AFAs can actually improve the quality of work, along with profitability
How AFAs can improve firm relationships while also lowering outside counsel legal spend

You can find it all here.

Cheers,

Jim

Jim Delkousis

Founder and CEO

PERSUIT

LEGAL ADVISORY

Alternative Fee Arrangements FAQs and Resources

Having just surpassed $11 billion in proposal value, we’ve learned a thing or two about what makes a great AFA.

PERSUIT is constantly on the front lines with our clients who are among the most innovative and impactful legal departments in the world.

Here, we've compiled the best of our learnings to help in-house teams at any stage of their AFA journey.

Continue Reading: Alternative Fee Arrangements FAQs and Resources

Laura Spalding

Director, Legal Advisory

PERSUIT

RATE REVIEW PRO

Rate Review Pro gives in-house teams the ability to capture, compare, and negotiate rates in one single place.

Simply send out one request
All of your firms’ proposed rates come back in an organized view
Quickly visualize and understand the most impactful hikes
Negotiate with ease

Save hours. And maybe millions. With one unified system.

Learn More About Rate Review Pro

UPCOMING EVENTS

Where's PERSUIT?

Here's where you can find us in the weeks ahead:

In-House Connect GC Happy Hour @ Legal Week, New York, NY, February 1 — By invitation
NAMWOLF, Driving Diversity & Leadership Conference, New Orleans, LA, March 2-5 — Register here