Now more than ever there is a place for legal networks as preferred providers to clients with multijurisdictional or global operations as well as part of panel arrangements. We watch trends in the marketplace for our members, and a variety of research demonstrates a strong appetite for an alternative to the global law firm model. The General Counsel Excellence Report conducted for us by Global Legal Post, a recent research study commissioned of Globality by The Lawyer, and other market studies highlight a number of key developments that support our strong position in the legal landscape.
The following trends have risen to the top.
Clients are looking for local knowledge, connections, and independent law firms where they feel more highly valued.
The TerraLex brand is consistently growing stronger and represents a record of client service that makes TerraLex teams a reliable choice for clients. Additionally, our members, from a size standpoint, are in the sweet spot clients are looking for.
Exceptional service is the top concern for clients with cost taking a close second.
TerraLex member firms and practice teams have a proven ability to deliver well-managed and consistent service on par with global firms. With high quality and efficient, effective firms who can get the job done at a reasonable cost and high value compared to global firms, TerraLex is well positioned to claim "high value provider status."
Clients are looking for industry knowledge and are distinctly interested in a move away from total reliance on global firms, who are perceived to be less flexible and more expensive when evaluating value for fees paid.
TerraLex's Industry / Sector Teams offer critical mass and strength across the network in a wide variety of industries. They are able to recognize client needs and emerging market opportunities, and actively offer collaborative cross-border services to meet those needs. We are positioning ourselves to help members deal with clients in the way the client wants.
"With the pressures general counsel are facing to deliver more and better service, there has never been a clearer place for TerraLex in the market," said Harry Trueheart, Chairman and CEO of TerraLex and Chairman Emeritus of Nixon Peabody LLP. "Clients are now appreciating the value of networks. The next logical step is for clients with multijurisdictional needs to make sure they have a network like TerraLex as part of their panel arrangement."
The global reach TerraLex offers along with the high levels of service to clients, infrastructure, and staff to support collaboration helps make TerraLex an important piece of your strategic plan. If you want further information on how TerraLex can help serve the needs of your business, please contact our Chief Business Development and Marketing Officer, Timothy Shannon for information on scheduling a presentation.