by Traverse Legal, reviewed by Enrico Schaefer - September 21, 2005 - 'The Greatest' Philosophy
Great post at Anything Under The Sun made By Man blog….
None of the attorneys I know talk or think in the terms of operating a business in the same way these entrepreneurs do. “Pricing Strategy” in a law firm means “my billable rate is higher/lower than X attorney at another firm.” Not “my value proposition is…” There may be talk about cashflow, but not about surveying the industry served by the law firm and developing new products, services, or methods of delivery to address their needs.
What does this mean? For me, it means that it is potentially a lot easier to compete in the patent law marketplace, with a little ingenuity and business sense. But it also means that the lawyers that are serving these clients do not understand what is making the client tick. How can the attorney do a good job of serving the client when they don’t have even a cursory understanding of how their client thinks?
Don’t tell many law firms to start thinking like businesses. It might just create real competition.
As a founding partner of Traverse Legal, PLC, he has more than thirty years of experience as an attorney for both established companies and emerging start-ups. His extensive experience includes navigating technology law matters and complex litigation throughout the United States.
This page has been written, edited, and reviewed by a team of legal writers following our comprehensive editorial guidelines. This page was approved by attorney Enrico Schaefer, who has more than 20 years of legal experience as a practicing Business, IP, and Technology Law litigation attorney.
