Pfizer isn't the first to initiate an "partnering" process for its outside counsel. Dupont, Motorola, and Sears, all have instituted some form of "convergence"—working closely with a relatively small, select group of firms and, in return, getting a break on their fees.
Outside Counsel P3 Program: This Might Hurt a Bit
By E. Gardner
It was a cold day for a beauty contest, a small army of product liability lawyers made their way to New York. Pfizer wanted the 103 firms to compete. As part of "P3," Pfizer-speak for Pfizer Partnering Program, the company demanded information. Finalists traveled to New York, where small panels composed of company lawyers and outside consultants grilled them. Then came a fee review. Pfizer contacted the 24 firms that made the final list.
Pfizer isn't the first company to initiate an elaborate "partnering" process; Dupont, Motorola, and Sears all have instituted some form of "convergence."
Waxman stressed the outcome: "Better relationships, better
value—there's a lot expected at this point.”
Argopoint Weighs In
Argopoint routinely adapts and builds on successful best-practices to help clients reduce legal costs and improve the quality of legal services. The Pfizer litigation partnership is just one of numerous examples in the legal space in which innovative thinking has delivered high-impact results. A client-firm partnership program model is by no means the appropriate answer for all clients. However, our experience has shown that clients most open to new ideas have enjoyed the most significant reduction in cost and improvement quality of legal services.
Outside Counsel Rationalization (OCR) is an approach adopted by many leading corporate legal groups to improve quality and reduce costs. OCR is designed to select and utilize optimal outside counsel for diverse legal needs.
Employing a structured process, outside counsel is objectively evaluated and tested against viable “market alternatives”, and favorable economic terms are obtained. Typically, management processes are established to ensure the program’s elements are implemented and both quality improvements and savings are realized.
Our clients depend on us to provide highly innovative, effective and industry-leading results. We combine evidence-based analytics with in-depth industry experience to deliver solutions that can be executed to achieve measurable, timely impact. Though we pride ourselves on our proven quantitative and analytical techniques, we recognize that numbers and statistics never tell the whole story in the legal context. We perform a robust top-to-bottom assessment of every client’s specific situation and environment to reach a solution supported by facts, data and industry insight.