Eversheds Celebrates Tyco Success As Innovative Two Year Contract Signed

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6th November 2009, 04:20pm - Views: 1110

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Eversheds Celebrates Tyco Success as Innovative Two Year Contract Signed

LONDON, Nov. 6 /PRNewswire-AsiaNet/ --

    International law firm Eversheds announced today that it has signed its

third groundbreaking contract to advise Tyco on its legal needs across

Europe, Middle East and Africa, extending the relationship for a further two

years. Eversheds ongoing partnership with Tyco has set a new standard for the

provision of legal services and client relationship excellence across

international boundaries, that no other law firm has been able to equal.

Going against convention, Eversheds is the only law firm to demonstrate a

seamless international client service. Eversheds has advised Tyco on matters

across over 80 jurisdictions since the global manufacturing giant reduced its

legal panel overnight from 250 firms to one in 2006.

    Confounding critics, the new contract is evidence of the success of the

innovative partnership, where both businesses have worked collaboratively to

constantly evolve working practices to ensure total satisfaction is achieved

by both client and law firm.

    With an emphasis on transparency, control and metrics, in the last two

years, the contract has achieved by way of example, a 27% reduction in fees

for Tyco and a reduction in the number of Tyco's litigation cases by 60%. At

the same time, Eversheds increased the proportion of high quality work it

services for the client by over 300%, including M&A and IP work, achieving

the objective of both parties to deliver an improved and sustainable return

on investment for the law firm.

    The new contract builds on the principle of an annual fixed fee for all

Tyco's work. With the benefit of two years management information collected

through the firms leading edge and award winning Global Account Management

System, Eversheds has been able to simplify the latest contract.

    Bryan Hughes, Eversheds Chief Executive commented:

    "Eversheds innovative partnership with Tyco has placed the firm at the

forefront of the legal revolution. We are hearing that General Counsel want

exactly this type of project management and we get daily enquiries asking how

we can deliver quality legal advice for businesses across numerous

jurisdictions through one point of contact. We are delighted with the new

contract and are committed to continually improve and innovate our services

for all our clients."

    Notes to editors

    About Eversheds

    Eversheds LLP and its world wide offices have over 4,400

people providing services to the private and public sector business and

People Feature Eversheds LLP 3 image

finance community. Access to all these services is provided through 47

international offices in 29 jurisdictions. Eversheds combines local market

knowledge and access with the specialisms, resources and international

capability of one of the world's largest law firms. http://eversheds.com

    About Tyco

    Tyco International (NYSE: TYC) is a diversified, global

company that provides vital products and services to customers in more than

60 countries. Tyco is a leading provider of security products and services,

fire protection and detection products and services, valves and controls, and

other industrial products. Tyco had 2008 revenue of more than $20 billion and

has more than 110,000 employees worldwide. More information on Tyco can be

    SOURCE: Eversheds LLP


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