Integrity in pricing

Lawyering

I attempted to negotiate a discount with my dentist only to be met with a firm response regarding their fixed price. The justification given was that the clinic had incurred expenses in acquiring equipment to enhance services provided and it’s the same price for everyone for the same services.

I didn’t try too hard to get a discount because I empathized with the dentist.

On the contrary, I respected the dentist because he was firm with his fees.

The price and the services provided did not depend on how hard or how well I bargained for a discount.

The dentist’s refusal to give discount gave me the assurance that I had not overpaid or being short-changed in respect of the services provided compared to others.

I think of this as integrity in pricing.

Similarly, in the legal profession, rather than basing fees on how hard a client negotiates to reduce the fees or how deep the client’s pocket is, pricing should be based on factors such as the scope of services provided, urgency of the matter and complexities of the issues.

#malaysiancorporatelawyer

This post first posted on LinkedIn on 6 June 2024.

Due Diligence
Legal Due Diligence on Public Listed Companies in Malaysia

When conducting legal due diligence on public listed companies (PLCs) in Malaysia, the scope of due diligence is limited by the laws of insider trading. Insider trading occurs when someone uses confidential, non-public information about a company to make a profit or avoid a loss in the stock market. Therefore, …

Linkedin Post
Don’t Rush the Disclosure Letter in M&A Transactions

In M&A transactions, a disclosure letter sets out the exceptions to seller’s representations and warranties in a sale and purchase agreement for an M&A transaction (“SPA”). Instead of negotiating heavily on sellers’ representations and warranties in SPAs, it is common to provide in SPAs that sellers’ representations and warranties are …

Lawyering
Is Corporate Practice Less Stressful Than Litigation?

I was asked whether being in corporate practice is less stressful and less hectic than being in litigation practice. I think this kind of generalisation is not particularly helpful. Different law firms have different cultures and expectations of their lawyers. Clients’ demand would also determine whether a particular project or …