Comments on: Law firms want their lawyers to be more commercially aware, research finds https://www.legalcheek.com/2024/01/law-firms-want-their-lawyers-to-be-more-commercially-aware-research-finds/ Legal news, insider insight and careers advice Fri, 19 Jan 2024 16:24:23 +0000 hourly 1 https://wordpress.org/?v=6.8.2 By: Junior Leachman https://www.legalcheek.com/2024/01/law-firms-want-their-lawyers-to-be-more-commercially-aware-research-finds/#comment-1184695 Fri, 19 Jan 2024 16:24:23 +0000 https://www.legalcheek.com/?p=200109#comment-1184695 Hello Anon, you are cracking me up.

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By: Hilarious! https://www.legalcheek.com/2024/01/law-firms-want-their-lawyers-to-be-more-commercially-aware-research-finds/#comment-1184642 Fri, 19 Jan 2024 05:35:28 +0000 https://www.legalcheek.com/?p=200109#comment-1184642 In reply to Anon.

Please write more. I’ll read. And if you’ve a website/blog, please share.

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By: That was funny and probs true too https://www.legalcheek.com/2024/01/law-firms-want-their-lawyers-to-be-more-commercially-aware-research-finds/#comment-1184610 Thu, 18 Jan 2024 11:45:58 +0000 https://www.legalcheek.com/?p=200109#comment-1184610 🤣]]> In reply to Anon.

Loooool mate you should be comedy writer 😂🤣

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By: Anon https://www.legalcheek.com/2024/01/law-firms-want-their-lawyers-to-be-more-commercially-aware-research-finds/#comment-1184607 Thu, 18 Jan 2024 10:43:31 +0000 https://www.legalcheek.com/?p=200109#comment-1184607 Write offs is a problem largely of law firms own making.

I’m in house so use externals. Here’s a typical conversation.

Me: “Hi, I’ve got this job, here’s a spec, please can you provide a quote? will need to be fixed fee as it’s part of the project cost“

Partner: “Great, thanks, so amazing, will provide a quote”

Partner: “Hi Anon, we can do the job for £400k-£500k”

Me: “Cool, I’ll need to get budget sign off so is it 400 or 500”

Partner: “Oh we can definitely do £400k fixed fee.”

Me: “Great, I’ll get that signed off.”

Partner: “Really appreciate the instructions, would you like to go for lunch/come to Wimbledon/sleep with my wife?”

*sign off for £500k anticipated in expectation of inevitable over spend*

*work gets done*

*bill lands for £1,344,659.34”

Me: “Hi, the bill appears to be £800k over the quote”

Partner: “Yes, that’s what was on the file.”

Me: “But the matter was fixed fee”

Partner: “Yes but the parameters changed/you needed more tax advice/the NQ’s dog died so we used 9 equity partners instead”

Me: “But you never mentioned any of this during the deal and now you’re asking me to get internal sign off for over double the spend 8 months after budgets were settled. I can do £500k but that’s the max”

Partner: *wails* *gnashes teeth* “This will leave me penniless, I can do £600k”

Me: “I’ll go make special pleadings to the CFO”

Partner: “Thanks, we can write off the £700k. Do you want to do lunch/come to Twickenham/sleep with my sister?”

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