In Episode 15 of Technically Legal, we sit down with Keith Maziarek, Director of Pricing and Legal Project Management for the Chicago law firm Katten Muchin Rosenman. Keith discusses the evolution of his marketing and business development roles for two of America’s largest law firms into pricing and project management positions.

Keith explains that law firms are adding pricing positions because of economic pressures and client demands. Clients are demanding changes in the way they are billed (AFAs or “alternative fee arrangements”) and also demanding that law firms become more efficient.

Keith also explains how project management and pricing legal services go hand in hand because to properly forecast the cost of a legal project, a thorough understanding of how the work will be done and what resources are needed is necessary.

Keith notes that fixed fees are not the only type of AFA out there. He discusses fee collars and success based legal fees. Keith explains how pricing fits into law firm marketing efforts and why sometimes it is best not to bid on work at all if it is not a good fit for the law firm.

You can contact Keith here: keith.maziarek@kattenlaw.com

Legal Founder Segment: 

In our Legal Founder Segment we talk to Kevin Miller, the CEO of Legal Sifter, an app that uses artificial intelligence to help people negotiate contracts with speed and providing advice from company leaders and lawyers in seconds.

You can check them out on Twitter at @legalsifter.

Things We Talk About in This Episode

American Bar Association

Kellogg School of Management at Northwestern University

Keith’s Article on Law Firm Pricing Techniques

Alternative Fee Arrangements (AFAs)

Fee Collars

Carnegie Mellon Artificial Intelligence Department

Episode Credits

Editing and Production: Grant Blackstock

Theme Music: Home Base (Instrumental Version) by TA2MI

Background photo above Christine and Hagen Graf

 

Like what you heard or read? Sign up below for alerts about new episodes.