The LMA New York General Counsel Forum, hosted at Akin Gump, candidly discussed the evolving dynamics between General Counsel (GCs) and law firms. The panel, moderated by Samara Abrams, featured Lauren Gee, Heidi Gootnick, and Jonathan Perkel, who shared their perspectives on selecting and working with external counsel. Here are my takeaways:

Budget Constraints and Firm Preferences

Lauren Gee highlighted the challenges of working within a non-existent budget. She noted that large law firms often appeal to GCs due to their breadth of experience and ability to provide cross-practice solutions. However, smaller firms excel in niche areas such as customs law or intellectual property and often offer better value. Heidi Gootnick echoed these sentiments, emphasizing the advantage of large firms’ international connections while acknowledging that smaller firms can bring specialized expertise to the table.

Prioritizing Relationships Over Brands

Jonathan Perkel offered a unique approach, focusing on individual attorneys rather than firms. For him, reliability and partnerships are paramount. Heidi supported this, emphasizing the importance of getting to know lawyers' experience and knowledge rather than relying on formal pitches. Both stressed the value of attorneys showcasing their expertise through thought leadership, such as well-crafted articles or contributions to industry discussions.

Lauren added that GC's often lack time for lengthy pitches or irrelevant newsletters. Digestible, targeted content is far more impactful, underscoring the need for clarity and purpose in law firm communications.

The Role of Awards and Recognitions

The panel collectively dismissed the significance of awards, recognitions, and league tables, questioning their credibility and viewing many as “pay-to-play.” These accolades were deemed to carry little weight in decision-making, mainly when the focus is on the strength of individual relationships and expertise over external validations.

The Key Takeaway: Build a Two-Way Relationship

The overarching theme of the discussion was the need for law firms to cultivate two-way relationships with their GC clients. Open communication, proactive engagement, and a focus on expertise are crucial. Attorneys must be definitive, targeted, and purposeful in their interactions, tailoring their approach to the specific needs of their clients. Outreach should be relevant and timely.

The forum left a clear message for legal professionals: to stand out; lawyers must prioritize authenticity, thought leadership, and meaningful connections over traditional marketing methods. 

In today’s competitive legal landscape, GCs seek trusted advisors, not just service providers.