Best Practice (Good)
Create a standardized method to assess outside counsel, taking into account prior similar cases, subject matter expertise, references, publications, etc. Store all assessment reports in a database for future reference.
Typical Practice (Bad)
Select outside counsel based on individual opinion and the ‘gut-feeling’ of Corporate Legal Department employees.
Benefits: Allows for ‘apples-to-apples’ comparison of outside counsel and provides an easily accessible reference for future outside counsel selection.