Procurement Involvement in Outside Counsel Selection – Trend or Myth?
Over the past few years there has been some open discussion about the possibility of corporate sourcing departments becoming more involved in the selection and retention of outside counsel. Law firm procurement can happen either in concert with the CLO, or the sourcing department might work on its own. Recently, I met with the procurement group of a major pharmaceutical company that was exploring their role in the selection of outside counsel, establishing and evaluating results – providing some first-hand evidence of this.
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