Project Description

Client: Software Company, Publicly Traded

Dedicated Cognition Counsel:
Robert Bosenius (formerly FMC, RIM, Cable & Wireless)

Challenge:

– Client under strong investor pressure to lower costs, particularly fixed overhead, in all departments.
– Previous General Counsel reluctant to implement new and more cost efficient options in the delivery of legal services to the organization.

Solution:

– In close consultation with the Client, Cognition underwent a comprehensive review of the Client’s legal needs, previous budgets and expenditures, and available resources. The review identified resources which were crucial and others which were unnecessary for an efficient legal department.
– Cognition drastically reduced the Client’s reliance on Big Law firms and internalized much of the work with one fractional (and variable) corporate counsel resource.

Impact:

– High Quality Advice: Client received responsive, top quality advice from a Cognition lawyer who has significant prior industry experience with RIM and Cable & Wireless.
– Reduced Costs: Cognition reduced legal department headcount and accordingly reduced overall department fixed costs by over $100,000 in the first year alone. Also reduced variable legal spend by internalizing some of the Big Law specialty areas such as securities and corporate transactions (Cognition rate of $275/hr versus Big Law rate of $500/hr to $750/hr).