When our partners choose which work we take on and how we charge our clients, they have to balance the relevant strategic, regulatory, ethical and reputational issues.
We have a practical guide, “Linklaters’ Seven Questions”, which serves as a checklist for partners to consider and consult on the relevant strategic, regulatory, ethical and reputational issues before taking on new work. These sometimes complex questions are often debated between offices, practices and sector groups before a new client or major piece of work is taken on and help ensure that our rigorous standards are maintained. Our partners are supported by senior management, if appropriate, and by our 50-strong team of dedicated risk professionals.
We advise our clients and potential clients if we are the right firm for the particular work for which they require legal advice. Our partners are clear about where we can add value, what is the most efficient service for our clients and how we can best deliver the service. Maintaining an open approach is a fundamental prerequisite of establishing successful long-term relationships with our clients.
Fair pricing
We take a flexible approach to pricing, to accommodate the differing needs, preferences and objectives of our clients. We are always working to offer a pricing structure that serves to underpin the value of the long-term relationship. Whether the priority is to address costs, mitigate or share risk, or create value, or a combination of all three, we devise appropriate pricing. For many of our clients, we operate a relationship fee structure, which provides an agreed commercial framework for a specific period of time.
Transparent business
We endeavour to provide clear information about our services to our clients at all times. Our policy is to have engagement terms in place with clients for all of our matters. We have established a standard set of International Terms of Business for global clients, to be applied to the work we do for them across the world. More than 90% of our biggest clients have agreed standard terms that apply generally to all the work we do for them globally. We ensure that specific confirmations of terms are issued on each new matter opened. Terms of engagement are recorded on our central database, “engage!”, to ensure all our lawyers are aware of the terms we have developed with our clients.
Anti-corruption
We have a zero tolerance approach to bribery and corruption. We have updated our policies which cover anti-corruption to take into account the UK Bribery Act 2010, which came into force on 1 July 2011. The updated policies apply across all our offices.
Whistle-blowing
We have established whistle-blowing procedures, through which anyone at the firm can raise concerns about serious misconduct by any of our people or by third parties (including clients). The policy encourages responsible behaviour and reinforces our values while ensuring that any potential whistle-blower is supported and protected.
