Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Accounting and Financial Planning for Law FirmsLJN NewslettersNewsSections

Edgy Ethics In Law Firm Competition

By Excerpts from Ed Wesemann
December 27, 2004

[Editor's Note: Thanks to law firm strategist Ed Wesemann ([email protected]) for allowing me to share these thoughts from his recent EDGE International emailing. Ed, in turn, acknowledges inspiration from Hardball, by George Stalk and Rob Lachenauer, pub. Harvard Business School Press. (c) 2004 by Ed Wesemann.]

When a large appliance manufacturer staged a beauty contest to consolidate its regional product counsel, a midsized litigation boutique firm wanted to compete for the work against the firms that had traditionally done the company's work. Its competitors were very large general practice firms and, even though the firms stacked up evenly in terms of the quality of their lawyers, the boutique firm believed the large firms were terribly inefficient in their staffing and handling of cases. They entered into a strategic alliance with a bill auditing firm, and a member of that firm participated with the boutique's lawyers as part of the presentation team. The message was: “We will have the bills audited at our expense before they are even sent to you.” The tactic not only enhanced their competitive advantage, but attacked the competitors as being too expensive without actually saying it.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Bankruptcy Sales: Finding a Diamond In the Rough Image

There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.

Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs Image

A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.

Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It Image

Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?

Blockchain Domains: New Developments for Brand Owners Image

Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.

'Insurable Interest' and the Scope of First-Party Coverage Image

This article reviews the fundamental underpinnings of the concept of insurable interest, and certain recent cases that have grappled with the scope of insurable interest and have articulated a more meaningful application of the concept to claims under first-party property policies.