View from the inside What do clients want

View from the inside What do clients want?

Brinsley Dresden, GALA UK • Partner, Lewis Silkin LLP

William Jelinek, Estee Lauder • Vice President and Legal Counsel

Amber Lavender, Wieden + Kennedy • Director of Business Affairs

Catherine Mennenga, General Electric • Counsel, Advertising & Brand Management

Carla Michelotti, ex Leo Burnett • President, Carla Michelotti LLC • Previously Executive Vice President and Chief Legal, Government & Corporate Affairs Officer, Leo Burnett

Client Relationship Management

Q 1: Client relationship management No response Personal chemistry with you and your team 1 – Not Important 3 3 Important 5 Essential 1 Managing a consistent team, with consistent standards & approach 1 3 Providing seminars, newsletters & other information about legal developments 2 Holding regular catch-up meetings (w/o charge) to discuss recent activity & any work coming up 2 1 Cross-selling other practice areas 1 3 Willingness to invest non-chargeable time in the relationship 1 Partner and team’s knowledge of your business / sector 1 3 In-depth understanding of your needs and culture 1 3 2 1 3

Q 2: What can counsel do to improve their client relationship management? • When possible, introduce new team members before assigning them work • Quick response time is always appreciated since our production timelines are compressed to ridiculousness • Listen! Learn the business as well as what will be shared about the peoples needs. Spend time to show that you care! Knowing the law extremely well is the baseline.

Service Delivery

Q 3: Service Factors No response 1 – Not Important 3 Important 5 Essential Ability to innovate and add value 4 In-depth understanding of your needs and culture 3 1 Strategic thinking – assessing risks, setting out options and giving clear commercial recommendations 1 3 Responsiveness and availability both during working hours and out of working hours 2 1 Innovative use of technology e. g. costs update emails, extranets, virtual data rooms 2 2 Engaging you and your team when planning transactions, litigation or other projects 2 1 1 1

Q 4: What can outside counsel do to improve their service delivery? • Follow up with in house counsel to make sure that the advice was received and understood. • Knowledge of our culture and risk tolerance is crucial. We’re more willing to take risks than other agencies. We need to get risk assessments based on that, not the typical “you can’t do XYZ”. • Work as if you are part of the internal legal team, not as if you are a revenue producer for your law firm.

Financial Management

Q 5: How important are the following aspects of fee management? No response 1 – Not Important 3 Important Clear communication around anticipated fees, e. g. quotes and estimates 1 1 Billing methods that match your preferences format and frequency of delivery 2 2 Clear communication about levels of work-in -progress and unbilled disbursements 2 2 1 Quotes / estimates that are realistic, with no consistent low balling 1 2 1 Delivery of value for money in relation to fees paid 1 2 1 Understanding your cost base and internal cost drivers e. g. for payment terms 3 1 1 2 Proposing alternative fee structures to hourly rates, e. g. caps, blended rates, monthly retainers 1 5 Essential 1

Q 6: What can outside counsel do to improve their fee management skills? • Suggest an alternative fee arrangement if such an arrangement might be beneficial. • Understand that fees are high and be as flexible as possible.

Questions or Comments

Our panellists…. . William, Estee Lauder Amber, W+K Catherine, GE Carla, Leo Burnett

Thank you!