Are You Wasting an Important Asset?
The Case for Strategic Referrals
There are many reasons why law firms need to refer matters to other firms:
1. Conflicts of interest.
2. Lack of necessary specialized skills.
3. Workloads which would not enable a matter to receive requisite attention or to be handled within client time restraints.
4. Matters (usually litigation) requiring qualification in a different jurisdiction.
5. Matters with a geographic nexus requiring substantial travel and other expenses that could be handled more economically by a firm elsewhere.
Most law firms allow their lawyers to decide independently when and to whom to refer such matters. As a result, a single law firm may send work to many lawyers in many firms. The aggregate fee value of such cases might total tens or hundreds of thousands, or even millions of dollars per year for a larger law firm.
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