MEDIA RELEASE PR36917
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
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
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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