LONDON, Jan. 6, 2012 /CNW/ - International law firm Eversheds and global
manufacturing giant Tyco have signed their third groundbreaking
contract for the provision of legal services across Tyco's Europe,
Middle East and African operations.
The new contract will extend the flagship relationship for a further two
years. Nearly six years on it remains a unique model in the way in
which multi-national organisations source legal requirements across
Eversheds' long-standing relationship with Tyco, which began in 2006
when Tyco consolidated its legal services to just one firm across EMEA,
continues to be one of the most progressive of its kind in the sector.
The new contract will see Eversheds deliver high quality legal services
and client relationship management for the conglomerate beyond EMEA,
with work being undertaken in more than 70 countries worldwide.
With the benefit of five years of metrics, the parties have agreed that
all the operational work across EMEA will be delivered and managed
within an absolute fixed fee. The concept of client approval of upfront
estimates on all engagements remains the bedrock of the management and
control of costs on both the operational and project engagements.
The contract once again encompasses further benefits for both parties to
work on further innovation, by ensuring that where further control over
spend is achieved both Eversheds and Tyco benefit. This innovative
concept has been the basis of the successful partnership, underpinned
by transparency, control and clear metrics for both parties.
Over the period of the contract, the proportion of premium work
undertaken by Eversheds for Tyco has grown sevenfold and now
constitutes a majority of the total revenue from the contract and
includes areas such as mergers and acquisitions, intellectual property
and compliance. At the same time, Eversheds has worked closely with
Tyco to reduce operational costs by millions of dollars across EMEA.
This has been achieved through a range of innovative approaches,
encouraging system changes, more efficient data use, targeting areas of
high spend, strategic use of secondments, re-engineering of processes
and effective budgeting and project management practices.
Bryan Hughes, Eversheds' Chief Executive, said:
"Our relationship with Tyco has continued to flourish and evolve. It
continues to deliver pioneering solutions and exceptional benefits to a
multi-national organisation, that had the conviction that things could
be done better and more efficiently by using one firm for all of its
cross jurisdictional legal needs.
"As Tyco's primary legal service provider across EMEA, for the past
five years, we have been able to develop a close working relationship
which genuinely improves the service we deliver across the company's
"There is no doubt that the success of this pioneering contract has
caused quite a stir in the market. We now utilise many of the
disciplines derived from the Tyco partnership with other clients
including Brady, Rolls-Royce and Orange and we continue to be
approached by many multi-national organisations asking us to
demonstrate the benefits of this approach, which we are always happy to
do. This suggests that there is still a strong appetite for the evolved
Stephen Hopkins, client partner for Tyco commented:
"The willingness of Tyco and Eversheds to invest in the early stages of
this relationship has paid dividends. Not only has the arrangement
delivered transparency and control over spend across a vast number of
countries, but as compliance and risk become increasingly prominent
features on a General Counsel's agenda, an effective, coordinated and
consistent approach across multiple jurisdictions is becoming a
Dave Symonds, Senior Corporate Counsel UK/Europe at Tyco, said:
"We have continued to develop and improve on our partnership with
Eversheds. We believe that it continues to be a leading edge model for
the provision of legal services for a multi-national company such as
ours. There are clear deliverables from the arrangement such as
significant control over cost and improved budgeting, consistency in
service across a great number of countries, improved risk and
compliance and probably the most impressive feature, a change in mind
set towards cost management and the delivery of legal services across
the Tyco business and every Eversheds office. As the trust has built in
the relationship, so has the quality of work which now flows to
Eversheds and without fail, they are a firm which has delivered time
and again for us."
Notes to editors
About Eversheds LLP
Eversheds LLP and its world wide offices have over 4,500 people who
provide services to the private and public sector business and finance
community. Access to all these services is provided through 46
international offices in 28 jurisdictions. Eversheds combines local
market knowledge and access with the specialisms, resources and
international capability of one of the world's largest law firms.
SOURCE Eversheds LLP
For further information:
Imogen Lee, Head of Corporate Communications, Tel: +44(0)207-919-4566, Mob: +44(0)771-511-7085