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Flat fee legal service bids for United Technologies must include explanation of profitability

But to truly impress United Technologies, firms now have to do more than propose working off the clock. They have to explain exactly how they came up with their flat fee, and how they’ll make money, something many can’t do. “Sometimes they tell me they have no idea,” says associate general counsel Chester Paul Beach.
via law.com

This is interesting. Law firms have taken a beating this year and are starved for work. Many routinely underbid on projects just to break even or keep staff busy (as noted here: http://bit.ly/6wBQp0) with no real hope of making money on the deals. That can’t last, clearly. It sounds like United Technologies understands that and wants to build long term sustainable relationships. Good on them.

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