Choosing outside counsel has, for as long as most people can remember, relied heavily on trust, familiarity, and the reputation of law firms. However, this deeply ingrained tradition is experiencing a major shift as legal departments start to harness the power of data in their decision-making processes.
The Buying Legal Council, an international trade association for in-house buyers of legal services and technology, recently highlighted this evolving trend in a webinar. The growing availability of data about attorneys’ qualifications and their performance histories is increasingly shaping how corporations and firms select their outside counsel.
As Jessica Williams, director of legal operations at FanDuel, points out, we can expect this trend to intensify as more data becomes accessible. The focus is pivoting towards the individual performance metrics, rather than the overall perception of a law firm’s trustworthiness or standing in the legal community.
This data-driven approach promises to add an extra layer of integrity and pragmatism when firms are selecting their legal representation. By making decisions based on hard evidence, legal professionals can ensure optimal outcomes and reduce the element of risk that is inherently involved in such processes.
Detailed insights into this evolving landscape for outside counsel selection can be found in a recent article on Law.com, which delves deeper into how this shift is influencing the business of law.