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The Evolution Between Outside and Inside Counsel
In this article, we bring the views and opinions from the client's perspective into focus on issues involving pricing, service, marketing, strategy, differentiation and more. To that end, we reached out to Michael Chartock, who has a multi-dimensional lens on these issues. Chartock has been a practicing lawyer in a law firm, a business executive and an in-house lawyer. Today, he is a Senior Managing Director and the General Counsel of Gordon Brothers Group, an advisory, lending and investment firm headquartered in Boston. The company helps growing, mature and distressed businesses manage through strategic change ' the same phenomena we are experiencing as global shifts move in our economy as well as our industry, legal services.
There is no denying that the relationship between in-house and outside counsel has drastically changed over the last seven years. As the economy slowly recovers, purchasers of legal services have new a perspective about pricing and delivery of legal advice. More and more clients are engaging in fixed-fee arrangements, off-the-clock services, and task-based billing. Outside counsel guidelines have become more rigid about what is billable, matter management and billing structures. This has caused many lawyers to believe that there is a strain or level of distrust moving into the relationship between outside counsel and in-house lawyers.
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