Online and technology companies are perhaps the most challenging of clients for law firms to live up to in the innovation stakes.
Paypal’s UK and Ireland head of legal Tom Brown certainly expects his tight-knit panel of Hogan Lovells, Olswang and Ireland’s Arthur Cox to keep up with his business by being as dynamic as Paypal aims to be.
In this week’s in-house interview Brown explains how having a smaller panel has helped him to slash Paypal UK’s legal spend five-fold in the four years he’s been there.
Brown also shared his insights on reducing legal spend at The Lawyer’s recent roundtable where the common consensus was that managing budgets is the challenge most likely to keep in house lawyers awake at night.
Firms have to work hard to keep PayPal’s business. Not only is there regular e-billing, but capped fees and hourly rate deals are a must.
Making the effort will pay off.
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- Mills & Reeve and Veale Wasbrough Vizards are to give employment advice to the British Library after winning a mini-tender
- Allen & Overy, Freshfields, Hogan Lovells, and Simmons among firms taking spots on Barclays’ reduced panel
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