Love Them Or Hate Them, Firms Ignore RFPs At Their Peril

By Gavin Broady (February 5, 2015, 3:08 PM EST) -- Budget-conscious clients are increasingly leaning on requests for proposal — or RFPs — to source work and control costs, and while a backlash has emerged among naysayers who see too much work for too little payoff, many experts suggest law firms that opt out of the process could be shooting themselves in the foot.

RFPs are a competitive bidding mechanism used by corporate law departments to court potential law firm suitors, and while the ferocious competition for new business would seem to make playing the RFP game a no-brainer, many suggest firms are throwing away their time and money by going...

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