Alternative Fee Arrangements for In-House Counsel: Best Practices for Structuring and Implementing AFAs to Drive Meaningful Cost Savings

Event Description

Alternative Fee Arrangements (AFAs) are all the rage in the corporate legal world. But why? What are AFAs and how can they lead to meaningful cost savings?

 

An alternative fee arrangement is loosely defined as any type of legal fee arrangement where a client pays an attorney something other than a traditional hourly rate for the legal work performed. Sometimes alternative fee arrangements are referred to in shorthand as “AFAs,” or the newer term, “value-based billing.” The point is that an attorney is paid for the value delivered for the legal service, as opposed to the amount of time it takes to deliver the requested legal service.

 

But how does one get started with AFAs? What are the different types of AFAs, when does it make sense to pick one over the other, and how does one go about proposing AFAs to outside counsel.

 

To answer these questions and more, In-House Connect is thrilled to feature David Falstein, Vice President of Client Success and Strategy at PERSUIT. PERSUIT is the leading enterprise platform for engaging outside counsel and has helped legal departments reduce outside spend by 37%, while automating AFA programs. In fact, one PERSUIT client, Corteva, saved over $2.5M within 2 hours on their first use of PERSUIT.

 

Join us for the next installment of our IHC Advantage Series, as David will discuss:

 

– How modern legal departments increasingly require cost predictability when it comes to managing legal spend

– What are AFAs and how they can help achieve cost predictability?

– Best practices for structuring and implementing value-based pricing – and getting outside counsel to join.

 

After the presentation, all attendees are invited to participate in virtual networking via breakout rooms with David Falstein.

 

PENDING CLE CREDIT IN NY AND CA; CLE APPROVED FOR IL AND TX

 

Who Should Attend

This program is designed for in-house counsel that manage outside counsel spend who are interested in developing a strong understanding of AFAs and its potential application to their organization.

 

Virtual Networking

After Audience Q&A, all are invited to engage in virtual networking (video cameras ON), where you can meet our speaker, ask questions, share best practices, and network with in-house counsel and legal professionals from across North America!

 

Thursday, February 3rd, 2022, via Live Zoom Video Conference
• 12:00 pm -1:15pm ET: Live Presentation followed by Audience Q&A
• 1:15 pm -1:45 pm ET: Virtual Networking via Breakout Rooms

As the Vice President of Client Strategy & Success at PERSUIT, David Falstein is responsible for ensuring the success of PERSUIT’s clients. While he is a licensed attorney, David was always focused on the business of law. While completing his JD/MBA at Michigan State, he wrote his thesis on Alternative Fee Arrangements (“AFAs”). David played an instrumental role implementing value-based pricing and matter level RFPs in a legal sourcing role for Johnson & Johnson. Today, David consults legal department leaders on legal ops best practices and provides strategic guidance to dozens of F500 corporations around designing and implementing more objective and competitive outside counsel selection processes.

Title:
ALTERNATIVE FEE ARRANGEMENTS FOR IN-HOUSE COUNSEL

Time:
Thursday, February 3, 2022 12:00 PM

Timezone:
America/New_York

As the Vice President of Client Strategy & Success at PERSUIT, David Falstein is responsible for ensuring the success of PERSUIT’s clients. While he is a licensed attorney, David was always focused on the business of law. While completing his JD/MBA at Michigan State, he wrote his thesis on Alternative Fee Arrangements (“AFAs”). David played an instrumental role implementing value-based pricing and matter level RFPs in a legal sourcing role for Johnson & Johnson. Today, David consults legal department leaders on legal ops best practices and provides strategic guidance to dozens of F500 corporations around designing and implementing more objective and competitive outside counsel selection processes.

Title:
ALTERNATIVE FEE ARRANGEMENTS FOR IN-HOUSE COUNSEL

Time:
Thursday, February 3, 2022 12:00 PM

Timezone:
America/New_York

Alternative Fee Arrangements for In-House Counsel: Best Practices for Structuring and Implementing AFAs to Drive Meaningful Cost Savings

About the Event

Alternative Fee Arrangements (AFAs) are all the rage in the corporate legal world. But why? What are AFAs and how can they lead to meaningful cost savings?

 

An alternative fee arrangement is loosely defined as any type of legal fee arrangement where a client pays an attorney something other than a traditional hourly rate for the legal work performed. Sometimes alternative fee arrangements are referred to in shorthand as “AFAs,” or the newer term, “value-based billing.” The point is that an attorney is paid for the value delivered for the legal service, as opposed to the amount of time it takes to deliver the requested legal service.

 

But how does one get started with AFAs? What are the different types of AFAs, when does it make sense to pick one over the other, and how does one go about proposing AFAs to outside counsel.

 

To answer these questions and more, In-House Connect is thrilled to feature David Falstein, Vice President of Client Success and Strategy at PERSUIT. PERSUIT is the leading enterprise platform for engaging outside counsel and has helped legal departments reduce outside spend by 37%, while automating AFA programs. In fact, one PERSUIT client, Corteva, saved over $2.5M within 2 hours on their first use of PERSUIT.

 

Join us for the next installment of our IHC Advantage Series, as David will discuss:

 

– How modern legal departments increasingly require cost predictability when it comes to managing legal spend

– What are AFAs and how they can help achieve cost predictability?

– Best practices for structuring and implementing value-based pricing – and getting outside counsel to join.

 

After the presentation, all attendees are invited to participate in virtual networking via breakout rooms with David Falstein.

 

PENDING CLE CREDIT IN NY AND CA; CLE APPROVED FOR IL AND TX

 

Who Should Attend

This program is designed for in-house counsel that manage outside counsel spend who are interested in developing a strong understanding of AFAs and its potential application to their organization.

 

Virtual Networking

After Audience Q&A, all are invited to engage in virtual networking (video cameras ON), where you can meet our speaker, ask questions, share best practices, and network with in-house counsel and legal professionals from across North America!

 

Thursday, February 3rd, 2022, via Live Zoom Video Conference
• 12:00 pm -1:15pm ET: Live Presentation followed by Audience Q&A
• 1:15 pm -1:45 pm ET: Virtual Networking via Breakout Rooms

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