How is a Plexus transaction managed among the three firms? Does the client need to manage three separate law firms?
At the commencement of an engagement, the Plexus firms, together with the client, select a lead counsel from among the three firms as the lead transaction counsel. The lead transaction counsel, the client and representatives from each of the Plexus firms, identifies the project team utilizing the best available resources from among the three firms. Assignment of attorneys to the project team will be based on relevant factors including expertise, proximity to the client, level of experience, and availability. Although each firm retains responsibility for the quality of the work of its lawyers, the lead transaction counsel coordinates the work of the project team. From the client’s perspective, management of the project and communication to the transaction team will be through the project team leader.
Related Questions
- How long has Bradley, Foster & Sargent managed client accounts, how many accounts do you manage and what is the average size of an account?
- Why does Bridgeport manage client investment portfolios in separate client accounts as opposed to on a pooled basis (like mutual funds)?
- Is there an inherent inefficiency in having three separate firms, spread across North America, working on one transaction?
