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World Practice Roundtable Maggie Watkins Meritas President October 25, 2004

World Practice Roundtable Maggie Watkins Meritas President October 25, 2004. Meritas. Est. 1990; Non profit 170+ firms; 60+ countries Firms ranked in top 20 Purpose: credible, effective client coverage. Our Name: Meritas. Merit: Latin root —“merito’ —‘brought in’ or ‘earned’

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World Practice Roundtable Maggie Watkins Meritas President October 25, 2004

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  1. World Practice Roundtable Maggie Watkins Meritas President October 25, 2004

  2. Meritas • Est. 1990; Non profit • 170+ firms; 60+ countries • Firms ranked in top 20 • Purpose: credible, effective client coverage

  3. Our Name: Meritas • Merit: Latin root —“merito’ —‘brought in’ or ‘earned’ • Means “proven ability or accomplishment” • Protected internationally • Firms show Meritas on letterhead, Web site and marketing materials

  4. Typical Meritas Member Firm • One firm per market • HQ in city served • Full service law firms • Non exclusive • No competing formal strategy

  5. Why Meritas is Different # 1: Objective, transparent and rigorous member service monitoring

  6. Quality Control • All referrals tracked as condition of membership • Written evaluations • Established system in place • Client service standards • Periodic member recertification • Involvement in organization • Client service complaints • Practice mix monitoring • Terminate 2% annually

  7. Client Credibility • Clients access evaluation records • Over 3,000 matters evaluated • Database online

  8. Why Meritas is Different #2: Tools to compete with regional, national and global firms

  9. Focus Has Shifted Beyond Referrals • Technology support for client coordination • Local marketing support • Educational & networking meetings • Lawyer qualification database

  10. Extensive Lawyer Qualification Database • Provides the ability to directly reach a lawyer whose capabilities meet legal needs • All member attorneys’ profiles are included in the LQD • Industry expertise • Niche legal specialization • Online access www.meritas.org

  11. Resource Tools Available(for clients and members) • Lawyer Qualification Database - both resource and promotional tool • Repository for marketing best practices • Meritas Web site: www.meritas.org • Member Site

  12. Resource Tools (cont) • Partner sales training • National and international trade show program • Attorney retreat facilitation

  13. Why Meritas is Different # 3: Significant new business for members via direct marketing/sales effort

  14. Strategy • Position Meritas similar to national/international firms • Goal: Substantive, profitable work from Fortune 1000 and increased referrals between members • Process: Use member contacts to leverage collective expertise

  15. Most Important Criteria in Selecting Outside Counsel • Past relationships • Reputation of individual lawyer • Lawyer expertise in a specific area • Firm expertise in a specific area • Reputation of the law firm • ACC/Serengeti survey

  16. Corporate Advisory Board Use corporate counsel perspective to maximize HQ business development efforts • Joe Bauer, Lubrizol • Gary Jacobs, MGM Mirage • Kim Myrdahl, SuperValu • Bruce Whitney, Air Products • Paul Marcela, Dow Corning • Doug Kosloski, Crown Investments

  17. 2004-05 Corporate Sales Plan We will be… • Expanding Sections and Industry groups as a business development resource tool • Adding more tradeshows • Stressing relationship development after initial contact

  18. Why Lubrizol Uses Meritas “The network maintains a high level of quality control among its members. We don’t have to do interviews, and we don’t have to go through a reference process. That’s been done for us by an organization we trust.” Joe Bauer, General Counsel Lubrizol, Inc.

  19. Membership Retention is High • Meritas referrals = top 10 client for active, visible firms in big cities • Significant referral income • Value in outbound referring • HQ: Significant leverage to enforce service standards

  20. Meritas’ Commitment to Diversity • Assisting member firms to recruit, retain and promote attorneys of diverse backgrounds • Educating member firms about the business imperatives of diversity initiatives • Heightening the awareness and sensitivity of its members to create opportunities that enhance diversity

  21. Commitment to Diversity (continued) • Promoting the involvement of attorneys of diverse backgrounds in the leadership and governance of Meritas • Weighing commitment to diversity in firm recruitment and certification

  22. Meritas: A Strong Competitive Advantage • Safe, credible geographic reach • Significant new business • Means to find and demonstrate depth • Reduce operating costs • Associate attraction and retention • Keep local brand relevant

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