Validatum™ Limited is a London, UK based international legal services pricing consultancy. The company's sole focus is legal services pricing; arguably the most challenging and rapidly evolving aspect of the lawyer/client relationship.
There is an inescapable irony in the fact that lawyers spend their entire legal career successfully advocating and negotiating on behalf of our clients, yet most are only moderately effective when it comes to negotiating their own fee.
Pricing is customarily seen only in terms of a means to impact turnover and in so doing increase profit. However, confining pricing to this one-dimensional view overlooks other equally valuable strategic uses to which the pricing ‘lever’ can be applied.
In contrast with their traditional after-the-event reporting function, law firm and chambers finance directors have an opportunity to reinvent themselves, and materially impact their organisations’ fortunes by facilitating pricing innovation.
A common refrain from law firms is that in-house lawyers talk about AFAs and value based billing but aren't really interested in concepts such as sharing risk; it's about getting the law firm to do the same work for less cost.
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