JordanFurlong + consolidation   2

Legal tech firms “will go bust as app stores take over” - Legal Futures
Professor Katz said the total number of legal tech start-ups providing what were “purported to be” AI products was “pushing 2,000”.

He said that “what began as a US-UK phenomenon is now an ‘everywhere phenomenon’”, including European countries like Finland, Russia, Germany, Denmark and Switzerland, along with Israel, Brazil, Mexico, Africa and Asia.

Professor Katz said many of these companies claimed to be offering a “platform”, but were really offering a “point solution” – a specific solution that would not work once it was taken out of the “sweet spot” for which it was designed.

“We’ve had these two thousand point solutions bloom, which is one of the hallmarks of this period.”

However, he said the real challenge was to develop a “product services bundle”, to provide a more complete solution.

Meanwhile law firms, led by Dentons more than four years ago, had created “engagement frameworks” through tech accelerators.

“Some of these are just a glossy brochure – I’m not going to say which ones – but some have substance.”

Last year, an international consortium of law firms launched Reynen Court, which looks like the type of platform the academic has in mind.
robo  it  consolidation 
june 2019 by JordanFurlong
Debunking the Consolidation Myth | The American Lawyer
Consolidation is not happening. The imperative for law firms to grow is groundless. Smaller firms that don’t expand internationally are not losing share; in fact, they’ve gained share through the Great Recession. The data could not be clearer. And yet we know that this simple truth will be ignored. Facts are an ineffective counterweight to long-held belief. It’s too bad. Running a U.S.-centered, organically growing law firm well is a strategy with enormous validity and tremendous potential for strong profit growth.
consolidation 
june 2018 by JordanFurlong

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