Client Biz Dev: You’re Doing It Wrong
May 16 (Bloomberg Law) — Trevor Faure, Global Leader of Legal Services for Ernst & Young, tells Bloomberg Law’s Lee Pacchia that the needs of general counsels at large corporations have changed in recent years and that most law firms need to change the way they approach business development. Faure says that while building personal relationships and augmenting a law firm’s reputation are still part of getting new business, they are becoming less important factors. Faure feels that law firms need to deliver more focused and prescient communications that inform corporations of the legal challenges they will be facing in the future. “[A law firm's] technical expertise on your subject matter…is of equal importance to [its] knowledge of the client,” he says.