A Clear Place for TerraLex in the Market
Now more than ever there is a place for legal networks as preferred providers to clients with multi-jurisdictional 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 done by The Lawyer research arm and commissioned by Globality, and other market studies highlight a number of key client preferences that demonstrate the value of choosing a TerraLex team for cross border legal solutions.
Here are the key findings of the surveys:
Corporate clients are looking for local knowledge, connections, and reasonably sized independent law firms where they feel more highly valued.
The TerraLex network of independent, but highly collaborative law firms, has a track record for providing deep local resources and seamless team service that makes a TerraLex solution a reliable choice for clients. Our member firms are in the sweet spot clients are looking for in size and resources.
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 coordinated and consistent service of the highest quality at competitive cost. Combined with local knowledge and flexibility to suit the client's requirements, TerraLex is well positioned to claim "high value provider status."
Clients are looking for industry knowledge and are increasingly interested in law firm networks which are perceived to be flexible and more cost efficient when evaluating value for fees paid.
TerraLex's Industry/Sector Teams are focusing the industry/sector expertise present among the more than 19,000 lawyers in TerraLex member firms on meeting client needs around the world.
"With the pressures general counsel are facing to deliver more and better service, it is clear that TerraLex member teams offer preferred alternatives to meeting clients’ cross border legal needs." said Harry Trueheart, Chairman and CEO of TerraLex. "Clients recognize the value of networks. The next logical step is for clients with multi-jurisdictional needs to make sure they have a network like TerraLex as part of their panel arrangement."
If you would like more information on how TerraLex can help serve the needs of your business, please contact our Chief Business Development Officer, Timothy Shannon for more information.