Getting value from legal services
Bruce Maclean Legal is committed to providing cost-effective, timely and commercially focused legal services. These suggestions will help ensure you get the most value from us, and that your requirements are met and work is progressed efficiently.
Scoping and estimates
Always discuss costs and payment terms in advance. Be clear about the scope of work, your objectives, the way you want advice presented, and the level of involvement you require. This helps identify the real “value” areas, and in planning a way forward. There are no surprises, and a better working relationship will result.
Bruce Maclean Legal uses engagement letters, and can give estimates, to confirm the scope of work and to help guide you towards the areas of work which will be most productive.
Business planning and risk management
If you are not experienced in dealing with external advisors, or do not have clear budget allocations or guidelines governing this, then carefully consider how to get the most value from your legal spend. It’s worth taking the time to discuss this with us as part of your general business planning. You should:
- Identify key opportunities and risks for your business; and
- Focus on profit maximising use of legal services, by avoiding significant liabilities (“risk management”) and targeting wealth-increasing activities such as commercial transactions and business expansion.
Forward planning reduces legal costs over time. Consider developing standard form legal documents. You should streamline handling of risk management and house-keeping matters, either by implementing internal management processes or delegating responsibilities on appropriate reporting lines.
Tips for getting value
To get the best value from legal services, we suggest the following:
- Take advice early (including from other professional advisors) or at least get a legal “heads-up” so you are aware of issues. An initial meeting or call (normally “no obligations”) will help you get an overview. You will be better informed, have more options and be more likely to make the right decisions.
- Provide us with all relevant information, and be frank. Withholding information makes it harder to give effective advice. Keep us informed of new developments.
- Get agreement within your organisation on your commercial objectives. Revisiting legal advice because of changes in commercial direction will increase costs. Stick to the legal action plan unless there are good reasons for changing it.
- Keep your goals achievable and realistic in the circumstances. Try to be commercially objective. Seek to maximise gains and minimise losses, rather than trying to “win” at all costs.
- Consider what deliverables you really need. Sometimes you will need formal written advice for governance reasons or where risks are significant, but informal advice on what to do is usually most appropriate for day-to-day matters, and helps contain costs.
- Finish the job, and make sure the “out-takes” are captured by your business for future use.
If you have a high legal spend (eg, recurring problems), you may need to re-evaluate some business practices. Remember that not all “legal” problems require legal advice. Make use of non-legal resources and advice where appropriate. If in doubt, ask. Help is only a phone call or email away.