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CCCA_V2No4_RedefineValue-FIN.qxd:CCCA_V1No1_DriversSeat-FIN.qxd 11/24/08 2:57 PM Page 35 Feature By Scott Brede Redefining Value Corporate counsel are exploring entirely new ways to get better value from the legal services provided by outside counsel. Here are several innovative legal services providers that are more than happy to deliver on that demand. Illustration by Philippe Béha eteran business litigator Patrick Lamb would like nothing more than to bring about the Vannihilation of the billable hour. For proof,just go to his online profile at the web site of his fledging Chicago-basedValorem Law Group (www.valoremlaw.com).There,he stands before a clock placed literally on a chop- ping block. Looking leisurely in blue jeans and a black turtleneck with the sleeves rolled up, he’s rubbing his hands together in anticipation of giving the symbol of his crusade one swift, decisive whack with a sledgehammer. The long-maligned, yet long-tolerated method employed by law firms to charge — some say overcharge — their clients,however,is just one hallmark of today’s legal profession that has Lamb and other legal pioneers primed for battle. Valorem is Latin for“value.”(The literal definition of ad valorem is“in proportion to value.”) Under that strategically selected name, Lamb and his colleagues aim to eradicate or at least offer a much-needed alternative to: • law firm business models relying heavily on legions of highly paid,under-experienced asso- ILLUSTRATION © PHILIPPE BÉHA / i2iART.COM • an escalating grudge match that has general counsel everywhere vigorously questioning ciates whose cost of training is borne by exceedingly irate clients • partner compensation systems that discourage teamwork to the benefit of lone-wolf rain- makers; and whether their companies’ legal dollars are being well spent. Launched in January,Valorem Law Group’s guiding principles and business practices, says Lamb, are all designed to reassure clients that they aren’t being taken to the cleaners and pay- ing more than what’s necessary to achieve their ultimate legal objectives. HIVER 2008 CCCA Canadian Corporate Counsel Association 35