The Silicon Review
25 Motives That Make Ferretti Firm Unique/Innovative
1. Location. The law firm is located far from big metropolitan areas (Milan and Rome) in the Tuscany region, where international firms generally do not establish their offices. This decision was made for a number of different reasons, including reduce costs, avoid the inconveniences of moving out from big cities to reach the clients (who are located all over the country) and reduce traveling times.
2. Training. Mr. Ferretti dedicated most of the time to personally train the professional staff. This required a considerable amount of time to let them have the same approach that he has in his day-by-day business. Mr. Ferretti wanted all his staff to have the same method, dedication and philosophy he has when dealing with legal matters and clients.
3. Organization of the Work Flow. Unlike many international law firms, the workflow is organized in a way that ensures to have interactions and face-to-face meetings with the managing attorney on a daily basis and at all stages of all key and strategic decisions.
4. Legal Techniques. Despite being an Italian law firm, Ferretti Firm makes wide application of U.S. strategies and drafting techniques along with U.S. legal instruments and databases.
5. Flexibility. No strict policy or procedure to be complied with is required when entering or working with Ferretti Firm. The staff is flexible in arranging working hours as deemed fit to the extent that each schedule is compatible with the deadlines to meet.
6. Remote Working. In 2017, when the firm was founded, Ferretti Firm started to implement remote working, which is now becoming more popular particularly during the COVID-19 pandemic. At that time, renovation works of the building did not consent to access the new office. New hires started to work remotely in early 2018 pending completion of the renovation works.
7. Selected Reports. Unlike many international law firms, the staff is not required to fill-out time records on a daily basis or for a minimum amount of time per day. Time records are filled-out only when a billable activity is performed.
8. Billable Hours. To maintain a harmonious relationship with its clients, Ferretti Firm carefully selects its billable hours, writing off tasks actually performed but not strategic or pivotal for the execution of the engagement.
9. No Economic Impact of Trainees and Newly Qualified Attorneys. Ferretti Firm does not include billable hours of its trainees and newly qualified attorneys (0-2 Years of Post Qualification Experience) in the monthly statements of legal services.
10. Alternative Fee Arrangements. Ferretti Firm is very flexible when asked to agree on a structure other than hourly billing. Such structures can take the form of ﬁxed fees, value or success based fees or other alternatives to hourly fees, provided that are appropriate under the circumstances of a speciﬁc matter. Special fee arrangements can be hybrids as well.
11. Outbound Work Prevails. Given the high number of engagements relating to cross-border transactions, the outbound work of Ferretti Firm substantially outweighs inbound work.
12. 100% U.S. Attorneys. When Ferretti Firm was established in 2017, the law firm was made of two attorneys of Italian nationality admitted to the New York Bar. Now that the number of attorneys has increased, such percentage is lowered but it is still unique (20%) compared to other Italian well-known law firms.
13. Unique Expertise on U.S. Law in Italy. Given the day-by-day practice and the background of its professionals, the law firm has gathered a unique expertise on U.S. law and can properly advise clients on the differences between the Italian and the U.S. legal system.
14. Innovative Name in the Italian Legal Landscape. While the name of the founder is commonly included in many law firms’ names, the peculiar feature and innovation sought by Ferretti Firm is to break free from the traditional idea (and name) of “law firm”, and simply use the word “firm” to represent that legal services are a part of a more comprehensive idea underlying the firm’s identity and philosophy.
15. Beyond a Law Firm. Ferretti Firm was founded not only to be a legal advisor for businesses, but also to help fill gaps in their structures in terms of insights, strategy, assessment and vision, thanks to the countless solutions that knowledge of international law offers.
16. Prior Business Relationship. When a lawyer establishes his/her own law firm, previous professional relationships are often terminated. Daniele Ferretti continues to collaborate in a productive and constructive manner with his prior colleagues.
17. The Whole Project, from A to Z, was Devised and Financed before ROI could actually be Predicted. All-in. There is no better word to describe what Mr. Ferretti decided to do with Ferretti Firm. Not only every detail of the project was planned and overseen before its execution, but the project was financed in full before the economic outlook of the return of the investment could actually be predicted.
18. All Brand New. Upon completion of the renovation works, which lasted 10 months, the initial team and the new hires started to work in an office space and a building completely renovated, both inside and outside, including floors and pavements, restrooms and parking space. All office furniture, including lights, furnishings, pc desktops, copy machines, IT infrastructures etc. were all brand new too.
19. Living Garden. The firm has a garden where the staff can have lunch or enjoy moments of relax, particularly in spring/summer time.
20. Customized the Building and the Office with the Firm’s Brand. The exterior and the interior of the building and the offices of Ferretti Firm are elegantly customized with ornaments, frames and decorations to reflect the firm’s brand.
21. More than Numbers. As a boutique law firm mainly dealing with cross-border transactions, Ferretti Firm’s professional staff is made up of a selected number of attorneys who have been carefully trained to get the job done. This choice is consistent with the philosophy of the firm, where the quality of the work and the approach of professionals with clients count more than numbers.
22. Selected Legal Specialists and Oversight. The firm works with a number of carefully selected general counsel, of counsel, risk management counsel, professional support lawyers, business intelligence specialists and consultants with proven experience in their area of practice, who can support the firm accurately and efficiently.
23. Suitable Solutions for All Pockets and Needs. Ferretti Firm is member of the largest international associations of lawyers, such as the International Bar Association and IR Global, and other 4 different networks tailored to meet different needs. Thus, the firm can offer the best and more efficient solutions for all needs and sizes of the businesses.
24. Training In-Firm of In-House Counsel. Pursuing the goal of making businesses more competitive, Ferretti Firm trains outside counsel, making them available the firm’s unique and advanced insights, strategies and legal techniques.
25. Awards & Accolades. From its establishment (May, 2017) to date, Ferretti Firm and Daniele Ferretti have received 14 awards, including, among others, law firm of the year and gamechanger of the year in Italy twice.