Mastering the Request for Proposal ("RFP") Process: Best Practices and Lessons Learned

This program, presented by Lindsay Tasher, Sam Tasher, and Steve Tasher of Wyatt Partners, will explore how in-house counsel can successfully master the Request for Proposal process when hiring counsel, experts, consultants, and vendors for litigation or transactions. Our panel will guide attendees through the entire RFP process – the necessary preparation; the drafting process; best practices in analyzing information received (and following up regarding same); evaluating potential fees/expenses, required workload, and alternative approaches to your matter; and best corporate/firm practices to maximize the benefits of what in today's legal market is the most useful first step to address and prepare for an upcoming litigation or transaction.

Through their widely diverse range of experience on these issues (from in-house, private practice, and fee expert perspectives), our speakers will provide insights on a topic that affects everyone in today's legal and business market.

Learning Objectives:

1. Briefly discuss the fundamental underpinnings of the RFP process, and their relationship with the Rules of Professional Conduct 1.2, 1.4, 1.5, Rule 5, and the client's obligation and responsibility to select the scope of work
2. Determine of the types of matters for which an RFP might be appropriate
3. Identify best corporate practices in preparation for the RFP process (assessment of the matter, evaluating risks/stakes, determination of type of counsel, experts, vendors, and consultants to hire, size/location of firm, roles for multiple counsel, etc.)
4. Discuss how to structure the RFP (format and substance)
5. Incorporate the various stages of your litigation/transaction into your RFP
6. Include language to maximize information received on budgeting and anticipated costs for your litigation/transaction
7. Examine the interview and selection process (what to ask and when to request supplemental information)
8. Review responses to look for to distinguish between law firms (from a fee/workload standpoint)
9. Explore lessons learned and surprises encountered during the RFP process