In a recent interview appearing in the Metropolitan Corporate Counsel, Prudential's Senior Vice President and General Counsel, Jim Gillen, commented on the economics of running a law department.He
said, "You have to run your law department as a business, as well as profession, and you can't ignore the economics of what you are doing."He
cited the inefficiency of people, both in-house and out-of-house, doing repetitive tasks and working on projects which other counsel may already at some point in time have done.Earlier this year, Prudential
brought together 100 outside firm partners and 300 Prudential staff people, as well as other service providers, including Wallace
, to join Prudential's
legal department in an intensive best practices initiative.The Planning, Staffing and Fee Management best practices subsequently adopted by Prudential
call for the use of temporary attorneys and paralegals as a means for Prudential and its outside counsel to achieve enhanced productivity and cost savings.