Doug Cogen, co-chair of the Mergers and Acquisition group at Fenwick & West, was recently the subject of an article in The Daily Deal entitled "Cisco Kid."
In an in-depth interview, Cogen discusses the tech M&A market, Fenwick & West's strong relationship with Cisco, and ways the firm has become more innovative and productive.
"In terms of M&A, the major tectonic movement that's happening is the continuing consolidation of what is still a relatively young industry." He added, "Right out of the consolidation of the industry, there's a creation of new companies."
Flat-fee deal with Cisco
The firm, which began working on corporate transactions for Cisco in 2003, has developed a unique relationship with its client. Rather than billing by the hour, the traditional method of compensation, Fenwick and Cisco have reached a flat-fee arrangement for certain legal work.
Cogen explains, "We're aligned with them in figuring out ways to deliver those services most efficiently because the fee is fixed. If they do substantially more transactional work than what the fixed fee assumes, then there are additional flat fees."
Increasing efficiency and innovation
The fixed-fee arrangement has lead to creative solutions. The Firm wrote a software program that allows attorneys to coordinate with each other to manage document analysis.
"When you're working with hundreds and sometimes thousands of documents and dozens of issues that are worthy of client attention, [the program] makes sure that you continually track those issues."
Read the entire article from The Daily Deal (subscription required).