DuPont Shifts From BigLaw Model, Hires More Smaller Firms
Not that long ago, the in-house legal department at DuPont Co. was implementing an efficiency strategy concerning outside counsel that called for the corporation to use a smaller number of large global law firms.
But now, DuPont—which is viewed by other corporations as a bellwether on legal cost-cutting—is reversing course, at least to some extent, and looking to retain a larger number of smaller law firms, according to Bloomberg.
Partners at firms of no more than 300 attorneys often charge less than major BigLaw competitors, the news agency notes in a lengthy article about the revised DuPont Legal Model. Plus, DuPont is pushing for fixed fees and discounted rates.
“At a time when general counsel are looking for alternative billing arrangements, the playing field has been leveled, so smaller firms can make pitches to big clients that would have fallen on deaf ears before,” says DuPont’s general counsel, Thomas Sager, in an interview with the news agency.
Related coverage:
ABAJournal.com: “Some Lawyers are Reducing Fees as Corporations Seek Discounts”
ABAJournal.com: “‘Convergence’ Can Benefit Law Firms as Well as Corporate Clients”
ABAJournal.com: “In-House DuPont Lawyers Post Profit”
DuPont Legal (archived): “The DuPont Legal Model Leaps Ahead”
