Law Asia reports…...In a recent survey conducted by India Business Law Journal’s sister magazine, Asia Business Law Journal, it was found that slow turnaround time and overpricing were the top turn-offs for clients in Asia when working with their counterparts in law firms.
As we narrowed down the list of top complaints, poor quality of service, unmet expectations and poor communications were also among the top five grievances that made these clients unhappy. We were also curious to know what necessitates the appointment of different law firms, and why some in-house counsel choose to work with a specific firm.
We found that emerging technologies have unlocked new opportunities for businesses worldwide, and that in-house counsel increasingly see the potential for legaltech to make their lives easier. Importantly, in-house teams look for firms that can expedite difficult challenges.
“As business entities with multi-state operations, we require law firms who can support us on a day-to-day basis on issues in relation to our projects,” says Satish Chopra, vice president at Rohan Rajdeep Tollways. “An important aspect of our working relationships that we have with our law firms is to have a dedicated resource for fast turnaround time. This definitely adds more value to our business.”
Chopra cites as an example the dispute resolution process in India, which is “time consuming” and “a hindrance”. Law firms that can deliver success in this situation are most preferred, he says.
Regionally, many of the opinions shared by in-house counsel are ubiquitous. Regular monitoring and sharing of information about regulations before they are signed into law are among the services that Maria Concepcion Simundac-Delos Santos, lead legal counsel at ING Bank in Manila, expects from law firms. Being aware of such upcoming changes, companies are able to give their input to regulators and anticipate potential impact.