There is often a crucial mismatch between what clients want when it comes to legal services and what outside lawyers deliver. Simply put, clients want practical cost-effective legal services, tailored to their individual needs.
What we call practical legal services is a results-oriented approach designed to achieve the desired business objective. Clients don't want a Supreme Court brief when a short essay will do. The incremental value of the difference between practical legal services and perfect legal work is simply not worth the incremental cost to many clients.
Practical legal services are neither sloppy nor inadequate. Instead, it is competent, expert, and timely work shaped for the client's specific needs. All this by a lawyer who has served both as outside counsel and in house general counsel working with results-oriented business executives on a daily basis.
Take the purchase of a business for example. In the best-case scenario, clients, investment bankers, and outside counsel work smoothly and efficiently to make the deal a win-win for both the seller and the buyer. But that isn't always what happens. Hyper-meticulous lawyers may over-negotiate and redraft documents long after the client's needs have been met. It takes someone who has to pay or justify paying legal bills to fellow executives and who has had the experience of closing hundreds of transactions to know when enough is enough.