I recently attended a panel discussion where general counsel discussed their expectations for outside counsel. What they valued most, they said, was a firm that knows their business or is willing to learn it.
One general counsel admitted he actually hired a law firm based on a piece of direct mail he received. The circumstances were very specific–his company is in a narrow business that requires a high degree of specialization and industry knowledge. As a result, most firms know the generalities of the business and industry he plays in, but not the subtle nuances and specific details unique to his company’s legal needs.
