Securing and Navigating Multinational Business Opportunities as Lawyers

This article condenses a series of posts borne out of questions from (external) lawyers on how to secure business with multinationals or companies with substantial legal budgets. I get asked these questions because, having worn different legal hats—as a mini state attorney, a fee earner, and in-house counsel—I've gained insights on client expectations and how to satisfy them. A foundational expectation is always a robust grasp of Ghanaian laws and regulations; this goes without saying.

1.???? First on the list is responsiveness—the linchpin in this game. I have complained and have heard clients lament bitterly about radio silence from their legal counsel at the most crucial times. In a world where time is money, swift email replies can be the difference between winning and losing a deal. Some of my colleagues ‘catfish’: they shine until the ink dries on the engagement letter, and then it's a game of tag. Quick replies to emails of texts to acknowledge clients and set expectations on when a response can be expected go a long way. Everyone appreciates a simple "I'll get back to you shortly" or “…by x time”. Responsiveness becomes a huge differentiator; one I wish more lawyers would adopt.

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2.???? Fee flexibility You may recall the discussion on trends, where the tension between limited legal budgets and the need to maximize value for every cedi/dollar spent was discussed. This tension can complicate engagements with legal professionals, as interests often diverge. But if there were no problems, there would be no solutions. Hesitation around fees, should invite dialogue and not an immediate withdrawal. Sometimes external counsel get very attached to figures which are not scientific and cannot be explained logically. Providing

flexible and innovative fee structures can be incredibly beneficial for both sides. There several established alternatives to traditional hourly fees that do not create huge administrative burdens. Here are a few:

? Flat Fees:?Set amounts for specific services, providing predictability for clients.

? Contingency/Success Fees:?Fees are contingent upon successfully achieving a favorable outcome.

? Retainer Agreements:?Clients pay a predetermined amount in advance for availability.

? A mix of hourly fees, flat fees and success fees as a package could also work, but require more careful tracking

These alternatives offer options which can be tailored to different needs, providing a more dynamic approach to legal fee structures. These packages can also be helpful where a company already has an established or longstanding relationship with another firm. By offering a flexible package, it’s easier for in-house counsel to justify spend with you, especially when it is more cost effective to do so.

3.???? Billing Practices

While clients fret about responsiveness, lawyers grapple with delayed payments from multinational corporations. Lawyers are usually afforded simplified on boarding processes, but invoicing and payment practices often adhere to standard norms – much to counsels’ chagrin. Multinationals, with their intricate structures and multiple tiers of approvals, demand certainty around billing. Adhering to protocols is crucial—invoices must meet the stated requirements: of content, specific formats, deadlines for submission, and settlement within a fixed cycle. Deviating from these templates lead to delays and queries – queries no one wants to have to deal with. Remember, most legal departments are either small or a one or two-person team and the last thing they want to add to their to do lists is dealing with finance (or worse audit) queries. To make everyone’s lives easier, external counsel should ensure they clarify the deliverables needed to trigger payment. It is as crucial as performance. So rather than rushing off to complete the matter and expecting immediate payment, lawyers should grasp the prerequisites for timely payment – are reports required? Is clearance needed before spending? Are items excluded? Ask for billing guidelines if one is not offered. Clearly stating deposit requirements for fees or expenses upfront or at specific milestones also avoids confusion and contributes to smoother transactions. Abiding by protocols and being transparent about charges fosters smooth relationships between lawyers and corporations.

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4.?????? Elevating Value Proposition

It's important to highlight the significance of added value in engagements with multinationals. In a landscape where these organizations are courted by a multitude of firms (both local and international) and with enormous pressure on legal budgets, distinguishing oneself through value becomes vital if you want to be instructed continuously. Value addition is the extra layer that sets you apart as a legal professional. Consider offering concise yet comprehensive law summaries, organising and extending invitations to appropriate firm events, providing complimentary sessions/trainings on topical issues, and equipping clients with useful toolkits or checklists. This will not only demonstrate your commitment and expertise but also serve as tangible benefits that can enhance the overall client experience. Closer collaborations can produce bespoke Frequently Asked Questions (FAQs) or simple standard contract templates which the company will be happy with and associates will be proud to have authored. Further, being prepared to jump onto a short (gratis) call to swiftly provide bite sized advice or feedback on ideas when called upon adds another dimension to your value proposition. This accessibility not only aligns with the urgency when there is a crisis, but also cultivates a stronger rapport between lawyer and client. It showcases the lawyer/firm’s dedication to the company’s success beyond the conventional scope of legal services.

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5.?????? Cultural sensitivity

Multinationals sit at a global table and it becomes important to understand and respect cultural nuances as they can significantly impact the success of legal engagements. There are issues raging globally that may seem less significant locally but definitely are on the radar of multinationals due to various considerations. ?Lawyers should be attuned to cultural differences in communication styles, negotiation approaches, and business etiquette. There is little tolerance for tactless comments about sensitive topics, especially as a newbie. Lawyers who can demonstrate cultural sensitivity and adaptability, can build stronger relationships with multinational clients and navigate cross-cultural challenges more effectively. They are also regarded as low maintenance by in-house counsel and can be invited along to more private, relaxed meetings with business executives as they do not require policing or babysitting.

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In summary, legal professionals who want to navigate the competitive landscape of multinational business opportunities have to be strategic. Elevating value proposition goes beyond traditional legal deliverables— it becomes the catalyst for forging enduring and mutually beneficial partnerships with multinational clients.