For law departments in the past decade, convergence — that is, consolidating the number of outside firms used in order to save money — has been all the rage. Many departments have dramatically reduced the number of law firms they retain. The convergers expect a number of benefits from a smaller panel of key firms. Those firms, they believe, will know the company better, impose less of a management burden in keeping track of transaction costs, offer better billing terms and contribute special services.
But I think convergence may be coming apart. Let’s take a look at some of the cherished beliefs behind convergence.
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