A Client Owner can gift matter ownership to a different Pod. This can only be instigated by the Client Owner and a colleague must never press to be made the matter owner or Client Owner. This is very rare, but is sometimes used where the Client Owner wants a colleague to work at a lower rate for the client and offers matter ownership as an incentive for doing so. If that colleague agrees, they should first verify the identity of the Client Owner on Keyed-In. This can also happen when a Client Owner wants to recognise a colleague's exceptional effort in helping bring in new work, especially where such work unlocks other further work to be owned by the Client Owner.
This can only be done upon setting up a new matter and not midway through. To effect any such agreement, the Client Owner should set the client up in the normal way and then email the Clients Team stating who is to be credited with matter ownership and copying that person to the email. Note that Keystone cannot split Introducer Fees.
In the event that a Client Owner wants to renounce matter ownership such that the client can achieve a reduction in costs midway through the matter, then this needs to be handled with great care. It would not be appropriate for the Client Owner to offer the client a discount, to make a payment directly back to the client or retrospectively to seek to adjust submitted invoices. It would also not be appropriate to make a reduction to our hourly rates. Any changes should be discussed internally and agreed between the Client Owner and the Lead Lawyer. By way of example, a Client Owner might ask a lawyer, in return for receiving Client Ownership that the Lead Lawyer (and prospective Client Owner) forgoes the annual rate increase for a year, undertakes a discrete task for a (reduced) fixed fee or perhaps without charge. In almost all cases, it would not be appropriate for the Lead Lawyer simply to reduce their fees by 15% or at all. It is important that the Lead Lawyer reaches a voluntary agreement with the Client Owner, in the absence of agreement, the arrangements with the client should remain the same.
Any new arrangements should be documented by the Lead Lawyer either in a new Engagement Letter (where material) or in an email that is expressed to amend the Engagement Letter. Whatever is agreed between the Client Owner and the Lead Lawyer, it is important that such is consistent with the Firm's position as a Top 50 law firm.