Next Academy Course

Date: November 16 @ 10.00 (CET)

Price per Participant: Euro 260 (+VAT, if applicable)

Register Now: click here.

Course Description

Although law firms and legal departments hear about the benefits of AFAs (Alternative Fee Arrangements), AFAs are rarely introduced effectively due to misunderstandings about their successful usage in the real-world. As a result, the firms and departments miss out on the opportunity to build profitable, long-lasting relationships based on proper risk management.

In this course, you will learn a practical approach to setting up AFA-based relationships by examining real-world examples of creative AFA-usage. More importantly, you will not only receive a set of pricing and risk management tools for effectively introducing AFAs, but you will also have the opportunity to test them out in a challenging client+firm roleplay.

Training Outcomes

After the course, you will be able to do the following:

• Initiate trust-building discussions about the risk-related concerns of both law firms and clients with respect to legal service projects.

• Identify and set-up risk management procedures and pricing formulations to ensure the execution of such projects in a profitable, predictable, and efficient manner.

• Leverage the data and other insights from your projects to improve the overall work of your teams and to help sell future projects to clients (both internal and external).

Sample Topics

During the course, we will examine AFA case studies to address challenges like the following:

• How to minimize the risks of conflict and boost efficiency when unexpectedly difficult work pops up under fixed-fee arrangements?

• How can firms help in-house teams overcome procurement’s objections towards using different pricing methodology (e.g. moving from price caps to risk collars)?

• How to use value scorecards and categories of non-value work to ensure that both law firms and legal departments are properly aligned with key company interests?

Your Trainer

Your trainer for this course is Aaron M. Muhly.

Common Questions

Number of Participants

As we would like to ensure that all of your colleagues can actively participate during the course and receive sufficient feedback, we recommend a maximum of 16 participants.

Length

Your colleagues will participate in one, 2-hour live workshop.

Format

The course utilizes a workshop format. We will spend substantial time on coaching participants to analyze the real-world cases and apply the tools in the role-play. We minimize our presentation time so that we can maximize our time on providing substantive feedback.

IT

The students can participate in the live session via Zoom.

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