The Advent Model

Problem

The billable hour system and rate increases.

Effect

Clients have a disincentive to engage from fear of the billable system and the system creates budget uncertainty. Attorneys are less likely to get a holistic view of a client’s business and needs.

Advent’s Solution

We typically work under a project, monthly or yearly all inclusive service agreement where pricing and fees are discussed upfront.

Advent’s Result

Clients are more willing to give us visibility to all aspects of their business. From this perspective, we are in a better position to identify problems and provide holistic solutions. We can also provide our clients complete budget certainty. Some of our attorneys even have quasi-inside counsel roles with our clients where we help invent on our clients’ technologies and create branding strategies.

Problem

Firm Overhead and General Practice.

Effect

Since many firms practice in a variety of legal areas, they cannot be highly efficient in any one area because their systems need to be compatible for all legal areas. Much of an attorney’s billable hour ends up being allocated toward overhead that may not be necessary for a particular legal practice.

Advent’s Solution

Our founders at Advent began their practices on the coast and with high-tech companies. Yet, they decided to open Advent’s practice in the low overhead Midwest and manage administrative overhead through collaborative technology with their clients.

Advent’s Result

We are able to produce high quality work product at a reasonable cost through our sensitive of overhead. We are also able to reduce our clients administrative overhead through our collaborative systems. Since Advent focuses in one niche area of the law, the firm can be very efficient and effective in its niche area.

Problem

Attorney attrition and work product consistency.

Effect

Client management and work quality becomes disrupted and inconsistent when there is turnover with high quality attorneys. Junior attorneys are then put into high pressure roles with low supervision. This issue is compounded by the fact that intellectual property attorneys can take upwards of three years to properly train.

Advent’s Solution

Advent’s proprietary compensation model and system incentivizes team behavior and compensation for productive attorneys who produce high quality work. We use the carrot and not the stick approach with our people. We do not have a tiered system that is weighted on seniority.

Advent’s Result

Our high caliber attorneys stay at Advent. They not only grow with Advent but they grow with our clients. Given that we have a team mentality, we have consistent long term continuity with our clients’ on-going projects.