Camerons invites clients to pay what they want for legal work

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  • Hi Duncan
    I am the CEO of a large Fortune company contemplating a hostile takeover of a major Chinese rival. Our combined market cap is around USD80bn.
    Can you handle the M&A work, plus any associated merger filings, and regulatory issues.
    I'll give you a fiver and a bag of revels.

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  • Duncan,
    I would be willing to pay a tenner and two packs of minstrels for work similar to that offered by the previous poster.
    Cheers

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  • Sounds innovative. Shows a willingness to consider value and risk in pricing. Good on CMS.

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  • It'll be interesting to see how these structures impact on next year's financials at the firm.

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  • Slaughters already do something like this.
    I once gave them a samurai sword and first pick of my progeny for a beautifully-handled private placement.

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  • Can i offer you my body?

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  • Anonymous 4:37pm is dead right. Will be very interesting. This appears to be classic Prisoner's Dilemma as applied to economics. Perhaps inevitable. I don't suppose anyone in the London Top 20 is going to thank Camerons for being the first to break. A shame that so much emphasis is now being placed on price. Whilst this won't go quite the same way as High Street residential conveyancing charges during the past 25 years, it will unfortunately hasten the decline in profits for major law firms generally. Camerons will, of course, get more work in the short term.

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  • I think this is admirable, brave and progressive - at last a law firm is ready to break the mould and be judged by the value it delivers and not the time it expends. Expect the predictable catcalls from the risk-averse, change-hating doom-mongers who are happy to reject ideas from their platform of ignorance and self-interest.

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  • pay peanuts, get Cameron Mckenna monkeys! Idiots

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  • This pricing structure is not new and has been used for some years by Boston based Exemplar Law www.exemplarcompanies.com It works well and clients like it. The actual mechanism is practical and ensures all parties fully understand the expecations of the other BEFORE commencement of the matter. The key to success is clear and concise two way communications.

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