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Q&A: Getting value from lawyers

Article Date: Mar 08 2006

Q: How do you turn the relationship with your lawyer into a meaningful one and avoid any unnecessary cash leakage from a young business?

Answered by Richard Hall, partner at Ernst & Young

If you were going to hire me to do your job, which is buy a company or some such thing, my interface with you is to sell you the ability to do a job. Internally, I’ve got to marshal a whole stack of resources in a whole number of areas to do a whole stack of separate things that I, as an individual, am not capable of doing. You have to remember that law has become such a commoditized little thing and that there’re people who only do that thing; therefore, the word ‘lawyer, in my opinion, is a sort of abstract concept. There is no such thing because what you’re actually looking for, as your interface to the legal profession, it’s not a lawyer but rather a manager of the provision of legal services. That means somebody who knows how to get you legal services at the level you require and at the price you require. Perversely that’s what you become as a lawyer through experience.

Here’s another thing: there is a price and value issue to which there are two separate answers. The hard answer, from a lawyer’s point of view, is ‘I want your money hour-by-hour,’ but the soft answer is, ‘I want an on on-going relationship.’ If you look at Silicon Valley during the technology boom there were several law firms who said: ‘Oh, we’re far too busy at the moment and we’re not taking on any new clients.’ Those firms aren’t in business anymore; they’re gone, so it’s dangerous to get sucked into a rigid legal firm mentality. You have to approach things from your own personal point of view.

Richard Hall is an Ernst & Young partner focusing on fast-growth, dynamic, middle market businesses. Richard leads a 3000-strong team located in offices throughout the UK who are committed to helping middle market businesses grow. Richard's role includes leading the middle market transaction advisory services team.

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Active Advisers: Solicitor

Active Advisers
Company	Name	Tel
HBJ Gateley Wareing LLP	Paul Cliff	0121-234 0000
Edwin Coe LLP	Russel Shear	020-7691 4000
Cobbetts	Andrew Wright	0845-404 2404
Biggart Baillie LLP	David Allan	014 1228 8000
DLA Piper UK LLP	Catherine Usher	+44 (0) 8700 111 111
Wragge & Co		+44 (0)870 903 1000
Osborne Clarke		+44 (0) 117 917 3000
Shoosmiths		+ 44 (0)1604 54 3000
Bertoli Mitchell	William Mitchell	+44 (0) 20 7812 6416

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