Interesting article from Gibson Dunn's Charlie Geffen, highlighting the three reasons he believes clients go to law firms:
- Advice about what to do
- Knowing what the law firm is
- Executive capability
I wonder how many law firms are clear about which category they fit into in the eyes of their clients?
“Clients go to law firms for three reasons,” argues Geffen. “They either want advice on what to do, they want to know what the law is, something which is now largely available for free online or on websites, or they want an execution capability, which is commoditised.” This, Geffen believes, translates into the drivers behind the increasing stratification of the global legal market in which a smallish group of firms primarily sell themselves on the quality of their advice while others offer broader, more commoditised services leveraging off scale, depth and reach.