Those economic green shoots may be sprouting, but controlling outside legal costs is still at the forefront of every general counsel’s mind. So the legal department of Kraft Foods Inc. has tried a unique approach to get more value from its outside counsel.
It held a contest to find out which of the law firms it’s hired best demonstrates the principles of free market competition. And the first-ever recipient of the Kraft Foods Free Market Award, which includes a bust of Scottish economist Adam Smith, is Morgan, Lewis & Bockius.
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