News & Insights
Overbilling – Won’t Lawyers Pad Their Hours Anyway?

I was recently in a meeting with several members of a legal department at a Fortune 500 company discussing RFPs for legal services.  During the meeting I was surprised by a comment. “That’s great that the firms would be incented to offer discounts, but won’t they all just stuff the time sheet with more hours […]

Structuring an RFP For Legal Services – The Basics

In-house counsel and others who procure legal services for corporations are under incredible pressures to contain costs.  RFP’s can be a terrific way to drive better pricing from law firms either matter to matter or for longer term engagements.  Here are four basic principles that will enhance the quality of information you receive from law […]

Legal Fees 101 – Review Chart

The following chart summarizes basic pros and cons and common use scenarios of fee types frequently utilized by law firms.  Although not an end-all-to-be-all guide, it should serve as a useful summary.  The chart is presented from the client’s point-of-view.  As you know, the possibilities for creative thinking on fee arrangements are extensive.  Two or […]

The Finite Inventory of Time: How Time Impacts Fee Methods

My daughter is 11. When I tell her something she already knows, she sometimes calls me “Captain Obvious”. But I think this message bears repeating. Much is written about how law firms structure and price fees. The rise of alternative fee methods, the desire of clients to purchase results and trends (normally upwards) in hourly […]

It was powerful to understand where our incumbent stood in the marketplace and what other firms were well-suited to support our deal. The platform eased our review and netted market pricing for the work. We look forward to using BanyanRFP again.

Lori Berreman Chief Legal Officer, Constellation
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