The National Law Journal (subscription required) this month had an article with the subtitle: “Many large firms lend lawyers to clients; it builds business.”
The article detailed that law firms who were outside counsel for corporate clients were lending attorneys to their clients. The firms found that this was beneficial both to the clients and to the firms:
“Law firms, in-house counsel and the lawyers who get loaned out all say it's an invaluable way for firms to better understand their clients and bolster their relationships. ‘A person on the inside gets to know the company in a more substantive way,’ said Mark Brazeal, deputy general counsel at Broadcom Corp., which has twice borrowed attorneys from outside counsel. ‘When they return to the firm, they tend to be more efficient and to give better advice.’ ”
And here’s another reason why firms loan out their lawyers: As the article put it: “Loaning out lawyers can also have another benefit: bringing in new business.”
Source: National Law Journal, December 20-27, 2004, p. 13.