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NEW In-House Counsel | Insurance | Intellectual Property | Immigration | Natural Resources | Real Estate | Tax

‘Traditional’ can be costly

Thursday, January 19, 2017 @ 7:00 PM | By Luigi Benetton

Prior to his entrepreneurial ventures, Joe Milstone was involved in collaboration between a law firm and its client, a public company that was going private. The firm’s initial estimate for the legal work was hundreds of thousands of dollars.

The transaction ended up costing millions of dollars. The client forked out four or five times the amount of the original estimate, by Milstone’s reckoning.

Milstone faults the firm. “The traditional law firm approach is to throw as many bodies as they can at the matter,” says...