We define value from our clients’ perspective. We strongly believe that the benefit the client derives from our services should be worth more than the cost of our legal service. Where the value equation does not make sense—in other words, when the cost of our legal services outstrips the value to the client, we advise the client to fire us!
We realize that the benefit to the client is not always monetary and is not the same for every client. Sometimes it is the peace of mind in knowing that the legal issue is resolved. For one client, this peace of mind may justify increased cost of legal services. In such cases, the value to the client may justify continued action. Sometimes, it is the ‘opportunity cost’ that drives a client to continue prosecuting an issue even when the value equation doesn’t appear to add up on the surface. Opportunity cost describes the activities that the client is not able to engage in because they are caught up in dealing with their particular legal issue. If the opportunity cost to the client is higher than the cost of litigation, then our value equation may not be compromised.
We know from experience that value drivers differ from client to client. We ensure through our intake process that the client has reflected on what their unique value drivers are and has adequately quantified them to ensure that they are making the right decision in engaging our services.
Value means pricing our legal services in a way that is tailored to our client’s situation. For instance, if a client only needs a subset of a particular service offering, we may unbundle that service and engage with the client on a limited scope basis. If a client needs certainty around the cost of our services, we may structure a fixed fee arrangement. In certain situations, we may structure a contingency or result-based fee arrangement.
Finally, Value means being a good steward of our client’s resources by keeping a close eye on the litigation cost. We actively and judiciously manage the litigation cost that we have control over without compromising the quality of our representation.