Valuing "value-add" services received from Law Firms

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Valuing Value-AddAnalysis of Joint Survey ResultsMatthew Whalley & Ian Rodwell. January 2012

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Valuing Value-AddAnalysis of Joint Survey Results

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ContentsIntroduction ......................................................................... 2Survey Details....................................................................... 3

Client Value ..................................................................... 3Law Firm Investment........................................................ 5

Discussion ............................................................................ 7Client Value Categorisation ............................................... 7Law Firm Investment Summary......................................... 8Combined Results ............................................................ 9

Client Knowledge & Law Firm Investment ..................... 9Client Efficiency Value & Law Firm Investment ............ 10Law Firm Investment & Scalability .............................. 11

Next steps ..................................................................... 12Appendices......................................................................... 13

Appendix 1: Graphical display of client survey scores by value category for each service ........................ 13

Knowledge ................................................................ 13Awareness ................................................................ 14Efficiency/Effectiveness.............................................. 15Risk Management ...................................................... 16Enabling ................................................................... 17

Appendix 2: Chart Showing Law Firm Investment plotted with Economy of Scale ........................................ 18Appendix 3: Plotting Knowledge vs Awareness Correlation..................................................................... 19Appendix 4: Testing for Correlation between Efficiency vs Enabling ..................................................... 20Appendix 5: Distribution of services by CKV and CEV............................................................................... 21Appendix 6: Original Client Survey .................................. 22Appendix 7: Suggested modifications to the original Client Survey...................................................... 24Appendix 8: Original Law Firm Survey ............................. 25

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Introduction

In June 2011 we carried out a survey of in-house KM professionals. The purpose of the survey was to develop a cross-client perspective of the relative values of “value-add” services provided by law firms.

The client survey was followed by a survey of law firm professionals of their views of the perceived cost tolaw firms of delivering these “value-add” services.

The results demonstrate which services are valued by clients in terms of “Knowledge” and “Efficiency” measures as well as their contribution towards the management of legal risk. They also highlight the relative costs of providing the services and which services can be developed for delivery to multiple clients for minimal investment per client.

The results also raise questions with regards to efficiencies gained on the client side and whether there is a gap with regards implementation of knowledge services, to the detriment of the client.

If you have any comments or questions about this report, or would like to participate by completing a survey on behalf of your organisation, do please get in touch.

Matthew Whalley ([email protected])

Ian Rodwell ([email protected])

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mailto:[email protected]

mailto:[email protected]



Survey Details

The survey took two parts. Firstly, clients were asked to rate the value of the “value-add” services they received from law firms. Secondly, law firms were asked to assess the cost of providing these services.

Client Value

The client value survey was designed to capture in-house Legal and Support staff attitudes towards the “Value-add” services they received from their law firms. Respondents were asked to rate services with respect to 5 measures:

Knowledge increasing your knowledge and understanding of legal and regulatory issues related to specific line of work

Awareness increasing your awareness of relevant legal and regulatory developments

Efficiency/Effectiveness reducing the time it takes to do your job or enabling you to do the job better

Risk Management helping you to identify and manage legal risk on behalf of your clients

Enabling enabling you to undertake work or tasks that wouldn’t have been possible if the service wasn’t provided

Scores were given on a scale of 1-5, where

1 = Excellent, extremely valuable, essential service – couldn’t work without it2 = Very Good, very valuable, fully appreciated3 = Good, of general value overall, appreciated4 = Poor, of little value, not really appreciated5 = Very poor, no added-value, not appreciated

The average result across each of the 12 selected services (multiplied by 1000 for ease of comparison) is shown in Table 1, over the page.

Results for each of the 5 categories is colour coded as being either “of little or no value” (red), “of general value” (amber) or “highly valued” (green).

Scores for the full list of services included in the original questionnaire are displayed in Appendix 1.

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KM Offering Knowl’dge Awaren’ssEfficiency/Effect’ness

Risk Managem’t Enabling OVERALL

Legal Secondees 1643 1286 2857 1929 3286 11000

Support Secondees 2273 1909 2909 1727 3000 11818

Legal Research Helpdesk 2714 2143 2429 1357 1643 10286

Legal Advisory Hotline 3091 2273 2818 2000 1909 12091

Vanilla Legal & Regulatory Updates 2000 2714 1643 1643 1000 9000

Industry Specific Bulletins 3143 3214 2500 2357 1357 12571

Thought leadership piece 2321 2000 1143 1500 786 7750

Microsites/Online Tools 2786 2500 2143 2357 1214 11000

Standard Training Seminars 2857 2929 2000 1643 1214 10643

Bespoke Training 3643 3214 2727 2500 1786 13870

Round Table Discussions 3182 3091 2385 2000 1364 12021

Post transaction reviews 2923 2833 2500 2308 1462 12026

Colour Scale

Less than 1700 = Poor in category, little or no value

More than 1700, Less than 3000 = Good, of general value, appreciated

More than 3000 = Excellent, high value, very appreciated

Table 1: Summary of client survey responses

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Law Firm Investment

Cost was assessed according to 3 investment factors (time required, level of expertise and scarcity of resource) plus the potential for the service to be delivered to multiple clients (scalability).

Each value-add service was rated according to 4 measures:

Time invested this will be determined by the size or duration of the support; the level of creation/adaptation required; and the level of expertise available

Level of expertise this will determine the cost of the resource required

Scarcity of resources for example, assistance from non-lawyers or specialists such as PSLs may be more difficult to secure. The measure can also relate to technological resources So, the scarcer the resources, the higher the investment score

Economies of scale can the investment be leveraged to provide support to multiple clients? So the greater the scope for economies of scale, the lower the investment score.

The average investment and economy of scale (scalability) scores are shown in Table 2, below.

Results for each of the three investment categories is colour coded as being either “high investment” (red), “moderate investment” (amber) or “little or no investment” (green).

Results for scalability are coded as “good economy of scale” (green), “moderate economy of scale” (amber) or “little or no economy of scale” (red).

Scores for the full list of services included in the original questionnaire are displayed in Appendix 2.

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Investment

KM OfferingTime Investment

Level of Expertise

Scarcity of Resource

Overall Investment

Economy of Scale

Legal Secondees 3571 3143 3000 9714 1143Support Secondees 3000 3000 3667 9667 1500Legal Research Helpdesk 1857 2857 2286 7000 2857Legal Advisory Hotline 2000 3143 2286 7429 2571Vanilla Legal & Regulatory Updates 2143 2286 2143 6571 3857Industry Specific Bulletins 2714 3143 2857 8714 2714Thought leadership piece 3429 3714 3286 10429 3143Microsites/Online Tools 3333 3167 3000 9500 3833Standard Training Seminars 2143 3429 2571 8143 3429Bespoke Training 3000 3286 3286 9571 2143Round Table Discussions 3143 3429 3714 10286 2857Post transaction reviews 2333 2833 3000 8167 1667

Investment Economy of ScaleLess than 2500 = Little or no

investmentGreater than 3000 = good economy of scale

More than 2500, Less than 3500 = Moderate Investment

Less than 3000, greater than 1500 = moderate economy of scale

More than 3500 = High Investment

Less than 1500 = poor economy of scale

Table 2: Summary of Law Firm Survey Responses

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Discussion

Client Value Categorisation

The high degree of correlation between Knowledge and Awareness (see Appendix 3) leads us to believe that these two measures can be combined into what we will call “Client Knowledge Value”, or CKV.

Within this correlation, there is a definite preference for services which enhance knowledge. That shouldn’t mean services that serve to increase awareness should be entirely disregarded. There is substantial anecdotal evidence that, with the right distribution mechanisms, simple awareness services can add significant value.

When reviewing the correlation between “Efficiency/Effectiveness” and “Enabling” (see Appendix 5), it is difficult to ignore the two outlying values for Legal and Support Secondees. Although these data points are out of line with the rest of the measures, we feel this is due to the nature of the terms used.

By becoming more efficient at an existing process, time is freed. This freed time, if the efficiencies are great enough, can be used to enable additional work to be taken on, increasing the amount of work that a legal department can undertake.

In the case of legal and support secondees, additional work is enabled due the fact that the base resource (lawyer time) is increased, rather than due to improved efficiency. The two are therefore two sides of the same coin, enabling additional work to be carried out.

We feel therefore that it is appropriate to create a more broadly defined efficiency measure: Client Efficiency Value (CEV).

Finally, the services surveyed are perceived as delivering little value in managing legal risk. The results in this measure are therefore excluded from further analysis in this report. Although Legal Risk is excluded, Law Firms’ should still have a major role in assisting in-house counsel to identify and manage their organisations’ legal risks.

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Law Firm Investment Summary

No single factor proved to be consistently high in contributing to the cost of services (see Figure 1), leading us to simplify this measure into a single factor, Law Firm Investment (LFI). Overall, investment in 75% of services is seen as moderate to high.

Law Firm Investment Breakdown

0

2000

4000

6000

8000

10000

12000

Lega

l Sec

onde

es

Supp

ort S

econ

dees

Lega

l Res

earch

Help

desk

Lega

l Adv

isory

Hotline

Vanil

la Le

gal &

Reg

ulator

y Upd

ates

Indu

stry S

pecif

ic Bu

lletin

s

Thou

ght le

aders

hip pi

ece

Micros

ites/O

nline

Too

ls

Stan

dard

Train

ing S

emina

rs

Besp

oke T

rainin

g

Roun

d Tab

le Disc

ussio

ns

Post

trans

actio

n rev

iews

Scarcity of Resource

Expertise

Time

Figure 1: Law Firm Investment Scores

General opinion within law firms seems to be that the majority of value-add services are potentially scalable given the right level of investment. 83% of the listed services (see Table 2) were rated as having moderate to good economies of scale.

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Combined Results

Having assessed the client value and divided into separate Knowledge (CKV) and Efficiency (CEV) factors, it is interesting to combine these two factors with the simplified Law Firm Investment (LFI). Figure 2, below, compares CKV with LFI. Figure 4 (next page) compares CEV with LFI. It is also interesting to contrast LFI with the scalability/economy of scale ratings. This is shown in Figure 4.

Client Knowledge & Law Firm InvestmentFigure 2 shows that almost all services rated are well valued in terms of the knowledge they deliver. The exception is Legal Secondees, which appear to be valued almost exclusively as a resourcing aid.

It is perhaps no surprise that 3 of the top 4 rated services for “knowledge” (Bespoke Training, Industry Specific Bulletins and Standard Training Seminars) would be considered as “traditional” law firm value adds.

It is however interesting that the third highest rated service in terms of knowledge is round table discussions. This shows that value can be generated not only by delivering law firm knowhow to clients but also through stimulating discussion and the exchange of knowledge with peers.

Among respondents in the client session, legal advisory hotlines were the least well known – perhaps a consequence of a more discriminatory approach by law firms in offering such support to clients.

Investment is high in almost all cases. The goal for law firms (and clients) must be to reduce the requiredinvestment and/or to scale the solutions to generate a better value return across a broader client base.

Hitting the sweet spot in the bottom right hand quadrant (Low Investment, High Value) are Vanilla Legaland Regulatory Updates, Legal Research Helpdesk and Legal Advisory Hotline.

Client Knowledge Value (CKV) vs Law Firm Investment (LFI)

Client Knowledge Value (CKV)

Law

Fir

m I

nve

stm

ent

(LFI

)

Legal Secondees

Support Secondees

Legal Research Helpdesk

Legal Advisory Hotline

Vanilla Legal & RegulatoryUpdatesIndustry Specific Bulletins

Thought leadership piece

Microsites/Online Tools

Standard Training Seminars

Bespoke Training

Round Table Discussions

Post transaction reviews

Figure 2: Distribution of services by CKV and LFI

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Client Efficiency Value & Law Firm InvestmentWhen looking at Client Efficiency Value (CEV), we can see that services rated far less highly. Less than half of the services show value. The standout services in this area (Legal and Support Secondees) are both “resourcing” services. It appears that clients are making slow progress in realising any real efficiencies from the other value-add services offered.

There are two current services however that just about make it into the bottom right hand quadrant (High Value, Low Investment): Legal Advisory Hotlines and Legal Research Helpdesk. For relatively little investment, both of these services are seen as delivering some modest efficiencies to clients.

Client Efficiency Value (CEV) vs Law Firm Investment (LFI)

Client Efficiency Value (CEV)

Law

Fir

m I

nves

tmen

t (L

FI)

Legal Secondees

Support Secondees



Vanilla Legal & Regulatory Updates

Industry Specific Bulletins




Bespoke Training



Figure 3: Distribution of services by CEV and LFI

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Law Firm Investment & ScalabilityReviewing Potential Economy of Scale (Scalability) with LFI shows that almost all services are seen as High investment. The exceptions are Legal Research Helpdesks and Vanilla Legal and Regulatory Updates.

Of the remainder, it is the services in the top right hand quadrant that warrant further investigation within Law Firms, If they have good scalability, is this being realised to the benefit of a greater number of clients.What can be done to bring down the “Client Specific Investment” in these services?

Law Firm Investment vs (Potential) Economy of Scale

Law Firm Investment

(Pot

enti

al)

Econ

omy

of S

cale

Legal Secondees

Support Secondees



Vanilla Legal & RegulatoryUpdatesIndustry Specific Bulletins




Bespoke Training



Figure 4: Overall Investment vs Economy of Scale

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Next steps

The study provides a useful indication of which services should be offered to clients and where to focus investment to realise economies of scale. It does however raise questions. Some follow-up actions are detailed below, for consideration by law firms and client organisations.

Produce a simplified, online version of the original survey.

This could be a useful next step in confirming someof these early results across a broader number of respondents. The development of the simplified measures of value and cost (CKV, CEV, LFI and Scalability) will make future surveys less complex.

Generate robust empirical data about the cost of provision of certain services and the likely return on investment.

It seems obvious that the subjective nature of the survey approach raises issues. There is much room for further development of ROI models within law firms.

Clients should work to analyse their internal processes and develop strategies for aligning/integrating law firm know-how with internal practices - with the ultimate goal of saving their in-house lawyers’ time.

For clients, it would seem that there is significant room for in-house KM or operations staff to realise greater efficiencies from the services that are offered to them. Involving law firms in this processwould help the firms to better understand client needs, what services would be of most value and therefore where to focus their energies to help.

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Appendices

Appendix 1: Graphical display of client survey scores by value category for each service

Knowledge“increasing your knowledge and understanding of legal and regulatory issues related to specific line of work”

Knowledge Scores

Legal Secondees

Support Secondees



Soft Skills Training

E-learning

KM/IT Consultancy




Business Hotline

Industry Specific Bul letins


Microsites/Onlne Tools

Bespoke Training

Webinars


Reporting Invested Time

0

500

1000

1500

2000

2500

3000

3500

4000

Less than 1700 = Poor in category, little or no valueMore than 1700, Less than 3000 = Good, of general value, appreciatedMore than 3000 = Excellent, high value, very appreciated

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Awareness“increasing your awareness of relevant legal and regulatory developments”

Awareness Scores

Legal Secondees

Support Secondees

Bespoke TrainingRound Table Discussions

Soft Ski lls Training

E-learning

Webinars


KM/IT ConsultancyReporting Invested Time


Legal Advisory Hotl ine

Business Hotl ine






0

500

1000

1500

2000

2500

3000

3500

4000


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Efficiency/Effectiveness“reducing the time it takes to do your job or enabling you to do the job better”

Efficiency Scores

Business Hotl ine



E-learningWebinars


Legal Secondees

Support Secondees


Legal Advisory Hotl ine

Vanil la Legal & Regulatory Updates



Bespoke Training




KM/IT Consultancy

0

500

1000

1500

2000

2500

3000

3500

4000


www.blplaw.com



Risk Management“helping you to identify and manage legal risk on behalf of your clients”

Risk Management Scores

Bespoke Training


Soft Skills Training


KM/IT Consultancy


Webinars

E-learningStandard Training

Seminars





Business Hotline



Support Secondees

Legal Secondees

0

500

1000

1500

2000

2500

3000

3500

4000


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Enabling“enabling you to undertake work or tasks that wouldn’t have been possible if the service wasn’t provided”

Enabling Scores

Legal Secondees

Support Secondees



Legal Advisory HotlineBusiness Hotline




Microsites/Onlne ToolsStandard Training

Seminars

Bespoke Training


E-learning

Webinars



KM/IT Consultancy

0

500

1000

1500

2000

2500

3000

3500

4000


www.blplaw.com



Appendix 2: Chart Showing Law Firm Investment plotted with Economy of Scale

Overall Investment and Economy of Scale

4000

5000

6000

7000

8000

9000

10000

11000

Lega

l Sec

ondee

s

Suppo

rt Sec

onde

es

Lega

l Res

earch

Help

desk

Lega

l Adv

isory

Hotline

Vanilla

Lega

l & R

egulat

ory Upda

tes

Indus

try S

pecif

ic Bull

etins

Though

t lead

ership

piece

Micros

ites/O

nline T

ools

Standard

Train

ing Sem

inars

Bespok

e Trainin

g

Round T

able D

iscuss

ions

Post tr

ansa

ction

revie

ws

1000

1500

2000

2500

3000

3500

4000

InvestmentEconomy of Scale

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Appendix 3: Plotting Knowledge vs Awareness Correlation

The good correlation between Knowledge and Awareness led us to combine these two value measures into a single measure: Client Knowledge Value (CKV).

Knowledge vs Awareness (CKV)

0

500

1000

1500

2000

2500

3000

3500

0 500 1000 1500 2000 2500 3000 3500 4000

Knowledge

Aw

aren

ess

Legal Secondees

Support Secondees








Bespoke Training



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Appendix 4: Testing for Correlation between Efficiency vs Enabling

Although the “Legal Secondees” and “Support Secondees” data points are out of line with the rest of the measures, we feel it is appropriate to create a single efficiency measure: Client Efficiency Value (CEV).

By becoming more efficient at an existing process, time is freed. This freed time, if the efficiencies are great enough, can be used to enable additional work to be taken on. In the case of secondees, additional work isenabled due the fact that the base resource (lawyer time) is increased, rather than due to improved efficiency.

Combining the two measures may lead to a downgrade in existing “efficiency/effectiveness” scores, as respondents take into account whether the efficiency savings are great enough to enable further work to be taken on.

Efficiency vs Enabling (CEV)

0

500

1000

1500

2000

2500

3000

3500

0 500 1000 1500 2000 2500 3000 3500

Efficiency Score

Enab

ling

Scor

e

Legal Secondees

Support Secondees








Bespoke Training



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Appendix 5: Distribution of services by CKV and CEV

The comparison below shows the significant weighting of client value towards Knowledge rather than Efficiency.

The services provided by Firms are generally good at passing on knowledge of legal issues (with the exception of Legal Secondees and Standard Seminars), but that clients are poor at realising efficiencies from these services.

This is surprising. One of the key aims of the provision of value-add services is to make clients’ lives “easier”,i.e. save them time and make them more efficient. There would seem to be a great deal of work to do on both sides in realising efficiencies from the gamut of value-add services available.

Knowledge (CKV) vs Efficiency (CEV)

Client Knowledge Value (CKV)

Clie

nt E

ffic

ienc

y V

alue

(C

EV)

Legal Secondees

Support Secondees








Bespoke Training



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Appendix 6: Original Client Survey

Value Add Activity

Kn

owle

dge

Aw

aren

ess

Effi

cien

cy/E

ffec

tive

nes

s

Ris

k M

anag

emen

t

Enab

lin

g

1. Secondees 1 (excellent) 2 (very good) 3 (good) 4 (poor) 5 (very poor). Full definitions listed on page 1.

1.1 Legal SecondeesQualified lawyers 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 51.2 Support SecondeesPSLs, Information Officers etc. 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

2. Hotlines/Helpdesks

2.1 Legal Research HelpdeskDirect access to library team or PSLs 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 52.2 Legal Advisory HotlineDirect access to associate or partner for internal lawyers

1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

2.3 Business HotlineDirect access to associate or partner for business colleagues 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

3. Know How Publications and Bulletins

3.1 Vanilla Legal & Regulatory UpdatesCommentary on dates etc but no added opinion

1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

3.2 Tailored Industry/Client Specific Bulletins 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

3.3 Thought leadership publicationsIndustry leading commercially aware, “macro” view pieces

1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

3.4 Microsites/Online ToolsContextualised content, such as for Data Protection, MiFID, etc. 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

4. Training and Roundtables

4.1 Standard Training SeminarsOpen seminars, i.e. where clients attend a general seminar at a firm’s offices

1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

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Value Add Activity

Kn

owle

dge

Aw

aren

ess

Effi

cien

cy/E

ffec

tive

nes

s

Ris

k M

anag

emen

t

Enab

lin

g

4.2 Bespoke Training SeminarsSeminars exclusively for your company. Most usually held at your own offices at your request.

1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

4.3 Round Table DiscussionsSmall group discussions about current industry topic, Legal & regulatory landscape, for example..

1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

4.4 Soft Skills TrainingPresentation skills, drafting skills, etc. 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

4.5 E-learningOn-line delivery of standard courses 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

4.6 WebinarsLive, web based training 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

5. Miscellaneous Activities 1 (excellent) 2 (very good) 3 (good) 4 (poor) 5 (very poor). Full definitions listed on page 1.

5.1 Post Transaction ReviewsDiscussion about lessons learned following major transaction 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

5.2 Reporting Invested TimeLaw firm sharing with you the amount of uncharged time 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

5.3 KM/IT ConsultancyAdvice from the firm on how to organise, collect, disseminate know-how

1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

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Appendix 7: Suggested modifications to the original Client Survey

We received some suggested enhancements to the survey, namely other services to consider, during the research process. For consistency none were implemented but they are recorded here for completeness.

Suggested service Comment

Relationship management We question whether this should be considered “value-add” given there is a clear revenue generating emphasis.

Use of facilities A fairly obvious omission from the original survey and should be included in any further studies.

Assistance with precedent projects

This was discussed in the client session and it was concluded that this type of project should be considered as part of the Support Secondees service.

Narrow “Post transaction review” as “independent review”

For KM purposes the ideal would be for law firm lawyers to participate in the process. This would ensure a two-way exchange of knowledge. Independent review is however included in this service category.

Include general/ practice management within KM and IT consultancy

We agree and in subsequent studies general management/practice management type consultancy should be included as a service category.

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Appendix 8: Original Law Firm Survey

Value Add ActivityT

ime

inve

stm

ent

Leve

l of e

xper

tise

Scar

city

of r

esou

rces

Econ

omie

s of

sca

le

1. Secondees 1 (nil/little investment) 2 (moderate investment) 3 (high investment) 4 (very high investment)

1 = high economy of scale, 4 = low economy of scale

1.1 Legal SecondeesQualified lawyers(Assume 6 month period)

12341234 1234 1234

1.2 Support SecondeesPSLs, Information Officers etc.(Assume 1 month period)

12341234 1234 1234

2. Hotlines/Helpdesks

2.1 Legal Research HelpdeskDirect access to library team or PSLs

1234 1234 1234 1234

2.2 Legal Advisory HotlineDirect access to associate or partner for internal lawyers

1234 1234 1234 1234

2.3 Business HotlineDirect access to associate or partner for business colleagues

1234 1234 1234 1234

3. Know How Publications and Bulletins

3.1 Vanilla Legal & Regulatory UpdatesCommentary on dates etc but no added opinion

1234 1234 1234 1234

3.2 Tailored Industry/Client Specific Bulletins

1234 1234 1234 1234

3.3 Thought leadership publicationsIndustry leading commercially aware, “macro” view pieces

1234 1234 1234 1234

3.4 Microsites/Online ToolsContextualised content, such as for Data Protection, MiFID, etc.

1234 1234 1234 1234

4. Training and Roundtables

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Value Add Activity

Tim

e in

vest

men

t

Leve

l of e

xper

tise

Scar

city

of r

esou

rces

Econ

omie

s of

sca

le

4.1 Standard Training SeminarsOpen seminars, i.e. where clients attend a general seminar at a firm’s offices

1234 1234 1234 1234

4.2 Bespoke Training SeminarsSeminars exclusively for your company. Most usually held at your own offices at your request.

1234 1234 1234 1234

4.3 Round Table DiscussionsSmall group discussions about current industry topic, Legal & regulatory landscape, for example..

1234 1234 1234 1234

4.4 Soft Skills TrainingPresentation skills, drafting skills, etc.

1234 1234 1234 1234

4.5 E-learningOn-line delivery of standard courses

1234 1234 1234 1234

4.6 WebinarsLive, web based training

1234 1234 1234 1234

5. Miscellaneous Activities 1 (nil/little investment) 2 (moderate investment) 3 (high investment) 4 (very high investment)

5.1 Post Transaction ReviewsDiscussion about lessons learned following major transaction

1234 1234 1234 1234

5.2 Reporting Invested TimeLaw firm sharing with you the amount of uncharged time

1234 1234 1234 1234

5.3 KM/IT ConsultancyAdvice from the firm on how to organise, collect, disseminate know-how

1234 1234 1234 1234

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