Giant Coke Adopts Pay-For-Permance - Even Laggard on Business Trends BigLaw Has to Pay Attention

Among large corporations, the compensation model for vendors is changing from hourly or even flat fees to pay-for-performance. That is going to change lots faster now that giant Coke has adopted the value model. In AD AGE, the bible of the marketing industry, Jeremy Mullman and Natalie Zmuda report:

"Coca-Cola Co. is trying to start an industrywide movement toward a 'value-based' compensation model like one it's adopted that promises agencies nothing more than recouped costs if they don't perform - but profit margins as high a 30% if their work hits top targets."

BigLaw has tended to be a laggard when it comes to macro business trends. But this move by Coke can't be ignored. Nor can the guerrilla activities of what might be called The New Barbarians in law. One of them is the Rimon Law Group. Its model is so compelling that I will be posting a full-length interview on it and more with its co-founder Yaacov Silverman [Yaacov@rimonlaw.com, 917-720-4027.]

What Rimon Law Group is is a virtual law firm, based in San Francisco, California, which is able to embrace pay-for-performance billing. It calls its version Satisfaction-Based Billing. Here are the details on that approach.

Stay tuned for LawandMore's exclusive interview with the Rimon Law Group.

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