the international trade organization for legal procurement

best practices for buying legal services and legal technology

PRICING LESSONS

Pricing legal services is often a challenge, for both buyers as well as for sellers of legal services. Learn about pricing best practices from our Pricing Master Class and Bootcamp. Our Members and Friends can access the Pricing learning materials in this Buying Legal Toolbox. Click on the links below to access the materials.

Pricing Master Class 

In this Pricing Master Class, we look at pricing from both the client's as well as the provider's view. Access the slides, recordings, and reading materials for each module:

      • Module 1 - Procurement Strategy and Scope of Work – collaboration strategy between Procurement and Legal; better forecasting multi-year demand for legal services including complex work; balancing competence, coverage and cost objectives, and moving past relationship-based sourcing of legal services to strategic collaboration with law firms
      • Module 2 - RFPs, Invitations for Strategic Partnering and Evaluating Proposals – approaching the market for the third time in 10 years; effective Q&As for sourcing; selection criteria; reducing the number of firms yet again nationally and globally; streamlining the sourcing process
      • Module 3 - Non-Hourly Fee Arrangements and Negotiations to Arrive at a Fair Price – multi-year work allocation to firms; abandoning hourly-based fee arrangements; fees for performance and innovation; two-step negotiations; ensuring that legal departments and law firms invest in innovation to climb out of the hourly rut
      • Module 4 - Why ROIs and LPMs Matter; Managing the Transitions; and Innovation – why records of instruction and legal project management are pre-requisites for AFAs; linking fees to innovation to improve results and service and to reduce costs; how best to drive change once the negotiations are over

Access the Pricing Master Class materials here

Pricing Case Studies

Our Pricing Case Studies are meant to give you deeper insight into:

      • Pricing strategy
      • Pricing tactics
      • Pricing negotiations
      • Implementation

Access the Pricing Case Studies here