http://whiteboard.pendrywhite.biz/2009/10/01/understandings-and-legal-fees/ What we think is noteworthy and going on in marketing and communication Sun, 29 Aug 2010 09:16:24 +0000 hourly 1 http://wordpress.com/ http://whiteboard.pendrywhite.biz/2009/10/01/understandings-and-legal-fees/comment-page-1/#comment-61 Tim Pendry Fri, 09 Oct 2009 18:31:28 +0000 http://whiteboard.pendrywhite.biz/?p=144#comment-61 ... which (Michael Bilewycz) raises a whole new kettle of fish over the cash value of a brand since high rates are associated with the cachet of association and with the assumptions (rightly or wrongly) of quality and reliability that a 'magic circle' brand allegedly offers: we should not assume that this state of affairs will automatically continue in the future - http://asithappens.tppr.info/journal/2009/10/9/echoes-from-the-future-moral-choices-big-business.html … which (Michael Bilewycz) raises a whole new kettle of fish over the cash value of a brand since high rates are associated with the cachet of association and with the assumptions (rightly or wrongly) of quality and reliability that a ‘magic circle’ brand allegedly offers: we should not assume that this state of affairs will automatically continue in the future – http://asithappens.tppr.info/journal/2009/10/9/echoes-from-the-future-moral-choices-big-business.html

]]> http://whiteboard.pendrywhite.biz/2009/10/01/understandings-and-legal-fees/comment-page-1/#comment-60 Michael Bilewycz Tue, 06 Oct 2009 21:25:47 +0000 http://whiteboard.pendrywhite.biz/?p=144#comment-60 A very insightful piece that is hard to disagree with. I think however that the biggest problem of high rates tends to lie in the corporate and finance sectors where magic circle hourly rates of £1200+ (yes, really!) once applied and their excuse was "supply and demand". However, I am not attempting to absolve the high rates in the other legal specialisations where clearly the firms in question had overheads to finance. There are many lawyers (including myself) who have declined the path associated with big (and not quite so big but equally pretentious) city law practices to set up on our own. We believe in providing good, honest and straight specialist advice to our clients at a fraction of the price. Nevertheless for better or worse there will always be those who will want a big name on the letterhead and will pay inflated fees for the advice of a newly-qualified. A very insightful piece that is hard to disagree with. I think however that the biggest problem of high rates tends to lie in the corporate and finance sectors where magic circle hourly rates of £1200+ (yes, really!) once applied and their excuse was “supply and demand”. However, I am not attempting to absolve the high rates in the other legal specialisations where clearly the firms in question had overheads to finance. There are many lawyers (including myself) who have declined the path associated with big (and not quite so big but equally pretentious) city law practices to set up on our own. We believe in providing good, honest and straight specialist advice to our clients at a fraction of the price. Nevertheless for better or worse there will always be those who will want a big name on the letterhead and will pay inflated fees for the advice of a newly-qualified.

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