Changing the Game: The Emerging Business Models Shaping the Trademark Industry

Changing the Game: The Emerging Business Models Shaping the Trademark Industry

The December 2016/January 2017 issue of World Trademark Review magazine features an article by Tim Lince on Summit Law Group and other firms who are shaking up the legal market with alternative firm models. For his article, Mr. Lince interviewed Summit founding Partner Phil McCune on the endurance of Summit, its alternative fee arangements and flexible pricing, and its innovative and pyramid-smashing structure. As Phil states in the article: “We are very profitable – as much because of our ‘lean overhead’ ethos as anything else – and, more than most firms, we are a place for many lifestyles. So while we expect hard, productive work and entrepreneurial talent, we also understand that our partners and staff have lives. Work arrangements for many lawyers have shifted as families have formed and grown, or for other personal reasons. We believe the evidence demonstrates that this creates a committed, loyal, cohesive group that stays with Summit over time.” The article also discusses Summit's Value Adjustment Line - “the cornerstone of its alternative billing approach.” As Phil comments, “[w]e actually get write-ups more often than you might expect. But more importantly, the value adjustment line gives our clients a greater sense of trust. Even if there is a debate about an invoice, which happens rarely, the context is, ‘You get to do whatever you want’, and the discussion is thus more positive and productive than it might otherwise be.”

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