In an effort to continuously improve the working relationship between clients and their outside counsel, Lex Mundi is developing a series of best practices. These best practice resources provide effective approaches to common issues and practical suggestions for both clients and their advisors.
In today's global business, the regulations that guide business have become far more numerous and complex. Regulatory authorities share information with each other more frequently, are increasingly aggressive about enforcement, and are adamant about their expectation of accountability for business conduct around the world. In response to the growing body of global knowledge concerning how to address and prevent fraud and corruption in international business, Lex Mundi has published this best practice to provide practical suggestions to enable corporations and their law firm advisors to develop effective compliance programs that will avoid, detect, and remedy wrongdoing, especially fraud and corruption.
Over the past few years, the use of Requests for Proposals (RFPs) for selecting legal counsel has been on the rise. Nevertheless, it seems that neither party involved – the company that issues the RFP or the law firm that responds to it – is completely satisfied with its side of the process.
The purpose of this best practice is to provide a comprehensive set of recommendations that will make the RFP process more efficient and successful for both the issuing entities and the responding law firms as well as enhance the relationship between both parties.
