JordanFurlong + newlaw   65

Eversheds Sutherland Launches Its Own ALSP With $127M Revenue Target | Legaltech News
Eversheds Sutherland is creating its own global alternative legal service provider, joining a trend among large firms with an international presence.

The firm announced Wednesday that it plans to launch a new entity to house its advisory, interim resourcing and managed service offerings, called Konexo, using existing teams in Europe and Asia. ES Agile, the firm’s flexible lawyering entity, has also been folded into the new business.
According to Eversheds Sutherland, the advisory, interim resourcing and managed service segment already accounts for £40 million, or about $50.77 million, of annual revenue. It encompasses three teams, known as ES Consulting, Corporate Secretarial and Volume Insolvency, which together saw business grow by 38% last year, according to the firm.

The goal is to continue growing that number, the firm said, to at least £100 million, or nearly $127 million, in annual revenue. Eversheds Sutherland’s global revenue for 2018, reported in February, was $1.175 billion (£900m).
“This is in response to what we’re seeing as a clear client demand,” Eversheds Sutherland co-CEO Lee Ranson said in an interview Wednesday. There was “a constant theme” in conversations with clients around using technology and moving away from the traditional legal model for “repeatable-type” legal work, he said.
newlaw  subsidiaries  managedlegal  firms  innovation 
5 weeks ago by JordanFurlong
Forum Magazine: A Safe Space for Innovation — Law Firms Creating “Captive ALSPs” | Legal Executive Institute
oday’s market for alternative legal service providers (ALSPs) has become larger, quickly growing and more broadly adopted by clients looking for more nimble or lower cost options to law firms alone.

In response to clients’ needs, ALSPs are leveraging different business models, emerging in all shapes and sizes from the Big Four accounting firms to small, tech-savvy disruptors, according to a new report on the sector from Thomson Reuters Legal Executive Institute, in partnership with Georgetown University Law School’s Center on Ethics and the Legal Profession, the University of Oxford Saïd Business School, and legal research firm Acritas.

One of these new formations — captive ALSPs — has seen law firms seek to regain their competitive edge in the market by essentially creating in-house ALSPs that can allow the firm to pitch a wider range of services to clients and offer oversight of the work while keeping costs low. Indeed, this was the first year the report measured the impact of captive ALSPs, and it found that the new model was making “headway among law firms of all sizes in both the US and the UK.” Further, when captives are included in ALSP market totals, “the scope of the alternative legal services model and market expands significantly,” the report notes.

Lisa Hart Shepherd, CEO of Acritas, said captive ALSPs were included in the report totals this year because they’ve grown very quickly and are becoming quite commonplace within the market. “Among the large law firms, if they don’t already have an in-house ALSP, then they are looking at having one,” Hart Shepherd says. As part of the report, Acritas conducted telephone interviews with representatives of 35 ALSPs located in the US, UK, and other countries. While law firms were not willing to release the revenue or growth figures for their captive units, some noted that the units had staff that numbered in the hundreds of employees.
newlaw  subsidiaries  r&d  innovation  firms 
5 weeks ago by JordanFurlong
Law Company Elevate Raises $25M, Aiming for 2021 Public Listing
Elevate Services has received $25 million in funding from a private equity firm as the Los Angeles-based legal services business aims internally for a public stock market listing in 2021.

Elevate has also predicted its revenue will climb to $76 million in 2019—and to more than twice that amount by 2023, according to a presentation obtained by Bloomberg Law.

Elevate’s growth and drive toward a public listing shows how fast-growing the market for nontraditional legal service models has become. Elevate, which bills itself as a “law company,” provides consulting, technology and other services to law firms and law departments.
newlaw  outsourcing  process 
7 weeks ago by JordanFurlong
Exclusive: Unregulated virtual firm granted SRA waiver - Legal Futures
One of AGL’s selling points to lawyers is that it says they keep a greater share of the fees they generate – up to 90% – than any of the equivalent firms, of which there is a growing number, such as listed law firm Keystone Law, gunnercooke and Carbon Law Partners.

At the moment, solicitors working for unregulated businesses have to call themselves non-practising, but the AGL waiver means that any solicitor working at the firm can operate under their title without having to seek an individual waiver.

Founder Lindsay Healy is a former Norton Rose solicitor and latterly a general counsel at technology company Xchanging.

He set up AGL last year to offer a wide range of commercial law services. It started with him and two clients and now has 15 lawyers and 80 clients.

Mr Healy outlined major ambitions for the firm, which he said would have 19 lawyers by the end of June and could reach 75-100 by the end of the year.

Every lawyer at AGL can work flexibly and everyone – including Mr Healy – is paid in the same way and receives an equal share in the profits. “Nobody takes profit from anyone else’s work,” he said.

Lawyers retain an initial 85% of what they bill; the remaining 15% goes towards AGL’s overheads, but whatever is left after that is distributed back to the lawyers as profit – in proportion to the hours they have billed – less 5% donated to charity, which is currently Great Ormond Street Hospital.
clementi  newlaw 
7 weeks ago by JordanFurlong
How and Why a Cynic of “DIY” Law Built a DIY Divorce Platform
With that information in hand, I next had to map out the user experience, which may seem elementary to developers and UX people but it was all new to me. I had to think about every aspect of what happens in the divorce process — not just the forms and procedural steps but the whole process from start to finish. When someone says they want a divorce, it requires not only thinking about living situations, custody of children, and finances but also managing the fear, anger, pain, and sadness that go along with those big life changes. It was crucial to account for the emotional aspects of the process in the user experience.
newlaw  family  access  innovation  startup 
may 2019 by JordanFurlong
UnitedLex Luthor | Above the Law
UnitedLex doesn’t have that same incentive. The client relationship lies with the company itself, not its staff attorneys, and it treats skill sets as ultimately fungible. A young attorney growing their skill set just means that attorney has to be staffed onto different matters, and the company needs to find someone else to handle the simpler tasks. Barring an altruistic motive to do the right thing, the company gains nothing from staff development except some administrative headache.

There’s also the problem that nobody gets rich driving a rideshare. In fact, once less apparent costs like depreciation and repairs are accounted for, many drivers are making less than minimum wage. Some outright lose money. The biggest winners of the Lyft and Uber revolution are Uber and Lyft themselves, and the public that now has access to cheap, fungible, convenient ridesharing. The drivers who generate all that benefit get just a sliver of the pie. I worry about that same dynamic transferring over to the legal market. Everyone in the UnitedLex model seems poised to win big, except the lawyers actually making it all possible.

Whose Story Is It?

It’s easy for me to air these kinds of concerns because if UnitedLex is Lyft, law firms are the traditional cab industry that Uber and Lyft have attacked. UnitedLex is a competitive threat to me, and thousands of Biglaw attorneys across the world.

Yet I don’t think my reaction is entirely based on self-interest. I wouldn’t be where I am today without the mentorship and growth opportunities that the law firm model provided me. Done right, the law firm model becomes about more than making money. It’s about passing down knowledge, skills, and an ethic to a new generation, helping people bootstrap themselves into a successful career. I struggle to see UnitedLex or any of its many competitors doing the same. While it may make its clients or shareholders wealthier, it may make our profession poorer.
newlaw  flex  admission  training 
may 2019 by JordanFurlong
In-House Innovation: Managed Service Providers Targeting Corporate Law | Legaltech News
“We know the quality [of a law firm] is excellent,” Stockton noted. “The law firms are trusted; we’ve worked with them for a long time, but are we paying the appropriate amount.”

However, a larger disruption in the market is afoot with corporate legal departments actively looking for ways to measure a law firm’s quality compared to vendors, Stockton said. One area that is easy to gauge is e-discovery.

“If you think about e-discovery, we can measure the accuracy of what is being done,” Stockton said, adding if the service provider has provided identical results to a law firm, “there’s no incentive to use a law firm.”

Ultimately what in-house legal departments are often looking for is a single one-stop shop for legal services.

“I want to see the legal management service providers rebundle so we can go to one provider,” Stockton said.”
newlaw  clients 
may 2019 by JordanFurlong
Axiom To Go Public in USA – But What Difference Will It Make? – Artificial Lawyer
But….to the bigger question: what does it mean?

Axiom has raised a total of $28M in funding according to Crunchbase, back in 2013. The group has been going since 2000 and grew from a lawyers on demand business to something far greater and more complex.

So, the shareholders are going to get rich. But, what of the strategy? Ah…well……To complicate matters they have also made the company into three companies:

Axiom, on-demand corporate legal talent;
Knowable, enterprise contracts intelligence;
and Axiom Managed Solutions, next-generation solutions for complex legal work at scale – i.e. a managed legal services arm or MLS.
So….this seems to suggest that the lawyers on demand bit – i.e. Axiom is what will get the massive injection of $$$…which, if that’s the case won’t really make a big impact on things, as it’s not systemic enough to change how law firms/clients work. It just builds scale.

However, if Knowable and the MLS bits were also involved in the IPO, that’s another story…and would be an interesting foil to the growth of Elevate.

…right, just heard back from their spokesperson: it’s just the Axiom – lawyers on demand bit that will do the IPO.

OK, so now we have a more clear picture. And much as it would be great to say this will change the world, it probably won’t. Having a far larger service to provide lawyers as and when needed to corporates and also law firms may create competition for the other on demand services out there, including that of Elevate, and those of some law firms in the market. But, on demand lawyers alone won’t change the means of legal production.
newlaw  project  flex  process 
march 2019 by JordanFurlong
Explaining Elevate’s Recent Acquisitions (088) | Legal Evolution
We thought long and hard about where our gaps were. We didn’t want to poach from our competitors, so we decided that the best way forward was to invite seasoned leaders to join Elevate, by persuading them to tie their rafts to ours. We then asked customers (even including those that had decided not to work with Elevate) to tell us which entrepreneurs, managers, and companies they thought were our best competitors!

How would we finance all these organic investments and acquisitions in a way that ensured that management didn’t give up control? The law department of one of our customers, Morgan Stanley, introduced us to their private credit and equity group, Expansion Capital. The Expansion Capital team’s advice was helpful in designing our growth financing strategy. By the end of 2017, we closed a $25 million credit facility with them to finance organic investments and the strategic acquisitions.

The acquisitions we made were based on the following three pillars that have been at the heart of Elevate for many years: Strategy, Culture, and Customers.
process  competition  strategy  newlaw  management 
march 2019 by JordanFurlong
Axiom to Go Public, Applying for IPO and Spinning Off Two Businesses | Legaltech News
Axiom spun off its data analytics arm Knowable and legal solutions platform Axiom Managed Solutions last week (February 12) in preparation for the move.

The company currently employs over 2000 people globally, and in 2017 reported revenue of $300 million, according to CEO Elena Donio.

Ashurst recruited Axiom‘s services in 2016 as part of a drive to offer further regulatory advice to the law firm’s banking clients, in what was the legal services provider’s first official law firm partnership.

In 2016, Mishcon de Reya hired Axiom’s London general manager Nick West as its chief strategy officer at the firm.

The application comes amid a raft of alternative legal service business movement in the market and an increasing interest in law firms floating.

Earlier this month Big 4 accountant EY signed a deal to begin using Slaughter and May-backed artificial intelligence company Luminance across its global legal network.

And DWF has joined several law firms moving to offer an alternative business proposition by cementing its aim to float on the London Stock Exchange.
newlaw  competition  flex  contracts 
february 2019 by JordanFurlong
The State of Alternative Legal Service Providers - Prism Legal
The report Alternative Legal Service Providers 2019 was released last week. Perhaps influenced by the subtitle, “Fast Growth, Expanding Use and Increasing Opportunity”, the many articles covering it suggested the findings portends trouble for law firms.

I read the report differently. Below, I focus on a few findings and statements that stuck out for me. This is not a summary so I recommend reading the entire report to learn more about alternative legal service providers.

The report is by “Thomson Reuters Legal Executive Institute, in partnership with Georgetown University Law’s Center on Ethics and the Legal Profession, University of Oxford Saïd Business School, and U.K.-based legal research firm Acritas.” I first saw it publicized at the TR Legal Executive Institute blog on 28 January 2019 at Alternative Legal Service Providers Report 2019: ALSP Market Experiencing Rapid Growth & Expanded Use.

High growth – 12.9% CAGR reported. And a Ron caveat. “In just two years, revenues for alternative legal services providers have grown from $8.4 billion in 2015 to about $10.7 billion in 2017. This represents a compound annual growth rate of 12.9% over that period.” That is 27% over two years, a number I will reference below.
newlaw  data 
february 2019 by JordanFurlong
Behind Elevate’s Buying Binge: Liam Brown’s Meticulous Strategy | The American Lawyer
One answer can be found on a single piece of paper that Brown uses to detail the company’s strategy. It includes three broad “value propositions,” roughly 20 “initiatives” and, for each of those, some five or six more specific tasks are detailed. In short, there is a lot more building to do at the 1,200-employee company that Brown said expects to bring in about $80 to $90 million in revenue this year.

Brown doesn’t expect his recent acquisitions to drastically alter the company’s trajectory. He said it may take 10 to 20 years to reach his long-term financial goal to hit $1 billion in revenue. But each piece is required to offer what Brown sees as a full suite of legal services ranging from traditional law firm partner advice to advanced offerings that require artificial intelligence expertise, which the company bolstered through its November purchase of Dan Katz’s LexPredict business.

“We think building a multidisciplinary company is going to be how you solve business problems in the future that have a legal element,” Brown said.

Elevate’s strategy starts with three main “value propositions” Brown says the company offers. Those are: ”Innovate” how legal work is done by law departments to manage risk. “Improve” visibility, predictability, control and costs of law department operations. And to “elevate” services for law firms to improve the value and efficiency they deliver to clients.

Elevate has won the work to back up this strategy. Partnering with its ElevateNext law firm platform, Elevate has changed the way Univar Inc.’s legal department handles portions of its work and how it pays outside counsel. On the law firm side, Hogan Lovells has said it is partnering with Elevate to offer flexible lawyer staffing to clients.
offshoring  newlaw  innovation 
february 2019 by JordanFurlong
DWF unveils plan for blockbuster stock market listing - Legal Futures
The blockbuster listing – likely to value the firm at around £600m – would make at least 25% of the firm’s shares available to investors. Though no figures have been released yet, DWF is thought to be looking to raise £50-100m.

The selling partner shareholders would hold a majority of the shares after admission.

DWF has 27 offices in 14 jurisdictions and employs 3,100 people focusing on insurance, financial services and real estate. It has a connected services division made up of 12 businesses offering other services around the legal advice.

In a ‘potential intention to float’ notice published today, the firm said it saw “a large consolidation opportunity… in a highly fragmented global market for legal and connected services”.

It said the acquisition growth strategy would focus on international expansion and accelerated development of the connected services division.

On the latter, it said: “Acquisition priorities are to: (i) acquire new product, software and technology capabilities, (ii) improve the geographical coverage of existing service lines, (iii) gain additional complementary services and solutions for DWF’s practice areas and specialisms and (iv) build out DWF’s current consulting capabilities within the connected services market to take advantage of the sizeable market opportunity.”
clementi  innovation  newlaw 
january 2019 by JordanFurlong
Law Firm Sales Push Growth of Alternative Services Providers, Report Says | Legaltech News
The market for so-called ALSPs was estimated at $10.7 billion in 2017, the report says. The percentage of law firms that use ALSPs for at least one service, including e-discovery, document review, legal research or litigation support, rose to 87 percent in 2018, up from 56 percent in 2016. At legal departments, that figure rose to 74 percent from 60 percent.

While those growth rates exceeded the expectations of a comparable report two years ago, the latest report predicts the market has even more significant growth ahead. It says ALSP owners expect to increase at a 25 percent annualized growth rate “over the next few years.” At that pace, the market would reach $20 billion in sales in three years.
For comparison, the $10.7 billion market in 2017 is slightly smaller than the combined revenue of the four largest firms in the Am Law 100. A $20 billion market would be about the size of the 10 largest Am Law 100 firms.

Large law firms said they were increasingly turning to ALSPs for strategic business reasons, even if their concerns about the quality of ALSP services remain. For instance, 53 percent of firms said using ALSPs could help them expand and retain client relationships, up from 44 percent two years ago. Similarly, 55 percent of firms said their traditional business model was being challenged by ALSPs, while 44 percent said so two years ago. And 39 percent of firms said they are facing increased pressure from clients to use ALSPs, up from 18 percent two years ago.
newlaw  competition  offshoring 
january 2019 by JordanFurlong
There’s A New World Coming | Above the Law
Use of all these methods are increasing, according to the 2018 Blickstein Group Law Department Operations Survey, published in collaboration with Consilio, which is out today.

“The legal services delivery model is now perceived as an ecosystem of providers,” said Robin Snasdell, managing director and group lead for law department management consulting at Consilio. “Now, who does the work is optimally the right resource at the right cost with the right credentials. It’s no longer necessarily about which law firm partner went to law school with in-house counsel. It’s a revolution of sorts.”

Most corporations’ legal work is still handled by law firms, and that is a sacred relationship that will continue. Yet, as the survey illustrates, LDO professionals are exploring, and often embracing, new developments and opportunities. In fact, almost 78 percent say they use ALSPs, most frequently for document review, contract review, due diligence, and contract drafting. This is probably the single best piece of evidence that the duopoly is breaking down.
clients  competition  newlaw 
january 2019 by JordanFurlong
Legal’s 2019 Tech Challenge: Getting Everyone on the Same Page | Corporate Counsel
For many legal departments, the demands of 2019 will not be much different from recent years: Do more work with less resources.

“The scope of work in many legal functions has increased, and the amount of work various legal teams are tasked with [has increased], with not significant increases in their ­budgets or headcount,” says Sowmyan “Sam” Ranganathan, senior director of information governance and legal ops at pharmaceutical company AbbVie and chair of the ­Association of Corporate Counsel (ACC) legal operations group.

Facing such belt-tightening, legal departments are striving to elicit efficiencies by learning skills like project management and, equally as important, leveraging legal technology.

Ranganathan says that for many this year, such technology will likely include contract management and workflow automation products. But there are other platforms corporate legal teams are eyeing to streamline their operations as well.
clients  it  process  newlaw  innovation 
january 2019 by JordanFurlong
Is UnitedLex the Future? Dan Reed Thinks So. | The American Lawyer
So I found myself on a conference room floor at Latham & Watkins’ Midtown offices, trying to work an espresso machine with the help of a receptionist—the lone Latham employee who appeared to know I was there.
Reed was there with at least one other UnitedLex executive—Nancy Jessen, a longtime Huron Consulting executive who now runs the part of UnitedLex’s business that is seeking to transform corporate legal departments through a blend of outsourcing, technology and process improvement. She was a leader on a deal with DXC Technology that, prior to the mystery of Reed’s presence at Latham that morning, I had been most eager to discuss.

The DXC deal was novel in an industry hungry for clues about its own transformation. No other legal department had “rebadged” 150 lawyers to a third party in the way DXC did with UnitedLex. No other legal department had told the public it cut its legal spending by 30 percent. No other legal department was planning, with the help of UnitedLex, to roll out a kind of TaskRabbit model (think: gig economy) whereby lawyers, as independent contractors, would negotiate the company’s contracts on an ad hoc basis—from their homes, or the nearest coffee shop.

Today, 14 percent of America’s law school graduates get hired by law firms with more than 100 lawyers. They are the lone cohort of graduates that, over the last eight years, has reliably earned six-figure median salaries, according to the National Association of Law Placement—testimony to the grip the nation’s largest firms have had on corporate America’s legal dollars. If UnitedLex’s model takes off, what happens to that percentage—and to the law schools, lawyers, law firms and corporate legal departments designed around current expectations? When corporate legal work gets handled in bits by a larger swathe of the legal workforce, who wins and who loses?
offshoring  newlaw  innovation  competition 
january 2019 by JordanFurlong
New year brings major New Law deal as Elevate acquires Halebury
US-based New Law darling Elevate has continued its acquisitive form with the purchase of UK-based flexible lawyer firm Halebury, creating a combined business of over 1,000 members of staff and $70m in annual revenue.
newlaw  flex  innovation  merger 
january 2019 by JordanFurlong
Bryan Cave Leighton Paisner Launches Cantilever | Business Wire
Bryan Cave Leighton Paisner (BCLP) today launched a combined legal operations consultancy division that brings together multi-award-winning teams on both sides of the Atlantic. The new division will operate globally under the new name of Cantilever. It brings together the BCXponent and Streamline brands, as well as other teams that support our clients’ in-house teams in improving their legal operations and service delivery to their businesses.

The division consists of 20 highly qualified process engineers, data scientists and technologists who are experienced at working with in-house teams, lawyers and attorneys to help law departments improve legal service delivery to the business. The team has also developed its own proprietary software platform, called CrossLite, which is a sophisticated data management and analytics tool that has been specially designed to meet the needs of the modern legal function.

Cantilever will be led by co-founders Katie DeBord and Chris Emerson. DeBord is Bryan Cave Leighton Paisner’s Chief Innovation Officer, while Emerson is the firm’s Chief of Legal Operations Solutions. The team also includes highly regarded legal technologist Bruce Braude, Director of Legal Operations Solutions for EMEA.

Services will include: providing legal operations and technology consultancy; designing effective and efficient processes and systems for contract, matter and litigation management; and delivering document and decision-making automation solutions.
innovation  consulting  ops  newlaw  competition 
november 2018 by JordanFurlong
Elevate Acquires LexPredict, Expanding Capabilities in Artificial Intelligence and Data Science - Elevate
LOS ANGELES – November 14, 2018 – Global law company Elevate today announced the acquisition of enterprise legal AI technology and consulting firm LexPredict. The move combines the comprehensive legal services offering of Elevate with the data science team and AI engine of LexPredict, creating more sophisticated technology-enabled solutions for law departments and law firms.
mergers  robo  competition  newlaw  r&d 
november 2018 by JordanFurlong
ALSPs: Already Here & Looking Upmarket | Law.com
Traditionally, ALSPs have been regarded as opportunities for labor arbitrage, typically in margin-compressed practice areas of limited complexity. Reduced quality is (wrongly) considered the tradeoff for low-cost labor. “The idea that ALSPs can only support ‘simple’ workstreams is just not true… we continue to test the boundaries on what our ALSPs are capable of… we are well beyond using them just for the routine work,” says Chris Chaffin, Vice President (Legal), Corporate Securities and M&A; Head of Legal Operations McAfee, a leading computer security software company. McAfee uses ALSPs to support contract management, M&A diligence, revenue related contract abstraction work, an ongoing, large-scale, legacy migration project and compliance reviews of marketing and product releases.
competition  newlaw 
october 2018 by JordanFurlong
Comment: Law firm IPOs still don’t make much sense (but soon could)
‘Who would possibly invest in a law firm?’ asks one leader this month, reflecting a common view. Yet the current vogue for floating law firms suggests momentum is indeed building, more than a decade after the introduction of the Legal Services Act.

In recent weeks, DWF has turned heads with talk of a £1bn float this year. While the price – not officially attributed to the firm – looks fanciful, even a standard £400m-£600m valuation would be by some way the largest legal float yet seen. The last 12 months have seen a series of offerings, with Knights in June raising £50m and others recently braving the market, including Rosenblatt, Gordon Dadds and Keystone Law. And while larger commercial law firms publicly play down the prospects of raising outside capital, there is no doubt it is now getting more active consideration.
Yet for institutional lawyers, the basic tension in attracting outside shareholders remains. Large law firms generate plenty of capital and have the advantage of an owner/manager structure that closely aligns to the business’ needs and interests. It has never been that clear how the very different incentives of outside investors can be aligned with partners, beyond giving a payout to older partners, a poor outcome for the business as a going concern. Law firms are built on ‘elevator assets’, partners bred to expect huge autonomy make a lousy bet for outside shareholders.
clementi  newlaw 
august 2018 by JordanFurlong
The Big Four’s Recent Acquisition in the Legal Market is a Big Deal | Law.com
EY’s acquisition of Riverview Law has the potential of shaking up the ALSP market in two important ways. First, it may help facilitate increased acquisitions within the space. Many of the most prominent ALSPs are a decade or more old. Some of their founders, like Elevate’s Liam Brown, have publicly stated that they want to remain independent. For the others, their founders and early investors are likely looking for exit strategies. It has been rumored that several prominent ALSPs have been “for sale” for some time, with the word on the street indicating that differences with valuations are holding up sales. If this is true, the Riverview acquisition may help establish a baseline benchmark multiplier in the ALSP market. Once the firm’s sale price is known – and it will be known – it will help reinforce the revenue and profit multiples which are used to inform valuations. This should help make the market more efficient and, potentially, usher in more sales.
There is a second, potentially more important, reason why the Riverview acquisition is important in this space. Managers of existing ALSPs now face the daunting task of competing with a Big Four player. EY will be a fierce competitor for several reasons. Its size – at $31bn in revenue and 250,000 employees worldwide – is certainly important. Its client base and strong capabilities in process management will also be key. But most important is their brand. Trust is incredibly important in the legal services market – even in the lower value areas in which ALPS compete. Law departments, as the leading purchasers of legal services, are fundamentally in the business of risk mitigation. While the cost of service is important, so is the credibility of the vendor, and this is particularly true for ALSPs. By hiring an “alternative” provider law departments are taking two risks – first, that this new “alternative” approach can work and second, that the ALSP in question is the right vendor in the space. EY’s strong brand equity and familiarity, coupled with existing relationships with clients make them much better placed to make this argument to corporate leaders than Axiom, Elevate, UnitedLex or any of the other leading ALSPs. The Big Four have the unique benefit of being seen as a “safe pair of hands”. This will be a key competitive advantage.
accountants  newlaw  competition 
august 2018 by JordanFurlong
A Big Four-Branded New Law Competitor Could Be a ‘Safe Disruptor’ | The American Lawyer
Grossmann said EY’s next step would be to scale up Riverview’s managed services capabilities to sell them to legal departments across the globe. That offering would be backed up by the 2,200 lawyers that EY has in more than 80 jurisdictions. Those lawyers, however, will mostly continue to provide traditional legal advisory services and not managed services.

Cornelius Grossmann
“What we want to do with Riverview is enter this as a new business line. We’re not changing what our 2,200 lawyers are doing, and we’re going to invest in more legal advisory capacity. We have more deals coming on in the next 12 months that will do legal advisory. We also will focus on alternative legal service providers where it makes sense,” Grossmann said. “We will hire into Riverview more people to scale up that business and scale up more support in our global delivery centers to support Riverview on the delivery of legal managed services.”
accountants  competition  newlaw 
august 2018 by JordanFurlong
GCs Are Flirting With the Big Four— But They Remain Wary | Corporate Counsel
What prompted the switch? According to Lisa Konie, senior director of legal operations for Adobe, it was primarily a predictable alternative fee arrangement.

The San Jose, California-based software company pays the firm, which Konie declined to name, an annual fixed fee that depends on the country where the work is being done and the services being provided.
“What I don’t think a lot of law firms appreciate is that we are held accountable to our CFO,” Konie said. “When I come in and tell my CFO that we have 75 percent accountability with billing I come off looking like a rock star.”

While some companies, like Adobe, are on board with the Big Four, others are hanging back, despite the apparent advantages that these accounting behemoths have over traditional law firms, including more predictable and flexible pricing and Scrooge McDuck-sized bank vaults.

Those who remain hesitant say they’re still waiting for the Big Four to prove that they offer a better alternative to the traditional firm model.
clients  newlaw  accountants 
august 2018 by JordanFurlong
Kim Technologies Signs 10 Year Contract with Riverview Law – Kim Technologies
Bob Farina, CEO of Kim Technologies commented:

“We have worked with Riverview Law for the last three years and we are delighted for its team that it is achieving its ambitions and accelerating its growth by joining EY. We really enjoyed supporting the Riverview Law team as it has demonstrated the power and scalability of Kim with its global clients and, more recently, during the due diligence process. We look forward to our software helping Riverview Law achieve its global ambitions and are delighted we will be able to add ‘EY Riverview Law’ to our growing list of global customers across a range of sectors.”

Karl Chapman, CEO of Riverview Law, says:

“A fundamental part of the Riverview Law operating model is our Legal Operations Platform which is ‘powered by Kim’. The ability for us to configure Kim using subject matter experts who have no IT development or coding expertise has helped us grow Riverview Law and deliver high quality cost-effective solutions to customers. We would like to thank Bob and the CTO and founder of Kim, Richard Yawn, for their support over the last three years and as we went through the due diligence process. We look forward to working with Kim in the years to come.”

*Both transactions are subject to the satisfaction of closing conditions and completion is expected to be no later than 31st August 2018.

 

For further information, please contact:

Andy Daws, Kim Technologies, andy.daws@ask.kim

About Kim Technologies

Kim is an AI-enabled Automation Platform that integrates sophisticated case, document and workflow management capabilities across all industries and functions. Its no-code configuration model enables knowledge workers, with no software development expertise, to take control of their critical business processes to improve decision making, speed and effectiveness. Visit www.ask.kim

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robo  it  accountants  newlaw 
august 2018 by JordanFurlong
Turf war: Law firm bosses see Big Four as ‘threat’ as they aggressively expand into legal sector | City A.M.
Managing partner of City law firm Fieldfisher Michael Chissick said: “They have very ambitious plans, that isn’t in doubt, audit is in decline and it is low margin, legal has been growing for the last 30 years and is high margin. They got it wrong several years ago and they have come back with better, clearer strategies. They are a threat to firms in my strata, I wouldn’t underestimate them in any way.”

Co-chief executive of $1bn law firm Eversheds Sutherland Lee Ranson has also noticed the audit firms' moves to muscle in on the legal turf, telling City A.M.: “The reality is they are already of a significant size, if you look outside the UK in some jurisdictions they are in the top five or 10 firms by size and in the UK now there is much more of an overt intent to expand into legal services.”

Read more: EY snaps up law business in bid to disrupt the legal sector

Nick Davis managing partner of City law firm Memery Crystal said the Big Four “will be very, very serious players in the market”.

“The Big Four will have a very large impact on the mid market. They have got such a strong client base and they are so good at integrating business services into their offering,” he said.
accountants  newlaw  competition 
august 2018 by JordanFurlong
What the EY/Riverview Deal Means - The Bigger Picture | Artificial Lawyer
The legal market can, roughly, be divided into three areas of labour:

Primary legal labour (PLL) – lower value process work, such as document review, simple form filling, and ‘bureaucratic’ activity. (The work of paralegals and junior associates).

Secondary legal labour – more value-added work, such as putting together relatively standard contracts, overseeing some of the primary work, assembling materials for more experienced legal staff to make judgments upon. (The work of mid-level to senior associates).

Tertiary legal labour – this is the most high value work, it requires expert and experienced insight, high grade project management skills, it relies on judgment, and it is often about very close working relationships with the client, i.e. it’s very much about human skills too. (Classically the work of equity partners, though how many partners also slip into doing too much secondary labour varies from business to business. And inside a corporate this would be the work of GCs and senior inhouse counsel.)

The global economy and society as a whole needs all of this, just as we need primary, secondary and tertiary industries, from mining and agriculture, to sales, to management consulting. The bigger issue is: how should we divide up these levels of production to be the most effective and beneficial for society?

The EY/Riverview Law deal is clearly part of the primary legal labour section of this system. Traditionally, law firms have been offering a combination of all three levels of legal labour – which is one reason they are so pyramidal in structure.

If you strip out the bottom two levels you end up with what looks like a high-powered English barristers chambers, where everyone is expected to carry their own weight and you’re expected to be able to handle significant client matters very early on.

Looking at this the other way, what happens if we just cut off the bottom level and separate out the process, or primary legal labour (PLL) section? Well….then you have an LPO, an ALSP, a managed legal services arm and so on.
competition  accountants  newlaw  markets 
august 2018 by JordanFurlong
EY Acquires Riverview Law: A Different Perspective
The ‘legal profession’ is becoming subsumed by the legal industry. Legal expertise is a part—but by no means the whole—of that industry. Consider that the EY-Riverview deal makes no mention of ‘legal expertise’ or ‘legal practice.’ It’s a big ‘legal’ story not focused on lawyers or law firms. That’s the real story of the EY-Riverview deal. The EY-Riverview headlines are a footnote to a tectonic industry change forged by corporate legal consumers. They are separating practice—an increasingly narrow band of regulated activities restricted to licensed attorneys—and delivery of legal services (everything else).
competition  accountants  newlaw 
august 2018 by JordanFurlong
Riverview Law Sees the World through EY – Slaw
Then new legal business:

is run by business people, not lawyers;
has a mix of investors who are not all lawyers, and who do not expect an immediate return on investment;
retains earnings and invests them for the long term;
creates unique customer experience that’s difficult for incumbent legal service providers to copy;
attracts customers based on a unique customer experience that does not walk out the doors of the business every evening;
does not attract customers based on personal relationships with individual lawyers who could leave at any time;
experiences massive growth over first five years of existence; and
is bought by Big Four firm because of the unique and successful mix of people, process and technology which creates a tangible, stable investment.
accountants  newlaw  competition 
august 2018 by JordanFurlong
Riverview Law Legal Re-Train Programme Launches! - Riverview Law
The Riverview Law Legal Re-Train Programme launched on Friday 1st June 2018. The programme continues to build on the company strategy of contributing to the development of the legal market. With a growing number of lawyers seeking to enhance their careers by moving into commercial contracts, Riverview Law sees its first 10 lawyers embarking on a 2 year training programme. The programme will take them from a wide variety of specialisms including family law, PI, litigation, industrial disease and employment, and re-train them as commercial contracts lawyers.

Riverview Law has a proud history of growing its own people with a well-established training contracts programme incorporating an SRA approved Technology seat. The development of the Riverview Law Legal Re-Train Programme continues this theme with those undertaking the programme being exposed to:

Commercial contracts legal training;
‘On the job’ commercial experience in at least 2 areas of Riverview Law’s Managed Service and/or Projects business areas; and
The utilisation of Kim and other technologies for the legal industry.
“The Legal Re-Train Programme is an exciting opportunity for us as a business and lawyers in the industry. Having seen the high calibre candidates from other disciplines who are seeking a career in commercial contracts, we knew this was another excellent opportunity to grow our business and support the evolution of the legal market. Our kick off session was full of laughter and enthusiasm with everyone eager to get the programme up and running. We look forward to welcoming our next cohort in the very near future too!”  Sonia Williamson, Head of Managed Services & Projects, Riverview Law.
training  newlaw  skills  admission  schools 
june 2018 by JordanFurlong
New Law pioneer LOD primed for growth as BCLP sells to buyout house
Buyout house Bowmark Capital is acquiring BCLP’s entire stake of 62% in LOD for an undisclosed sum. The sale is expected to carry a multi-million pound price tag and represent a significant windfall for BCLP, which was formed by the merger earlier this year of Berwin Leighton Paisner (BLP) and US law firm Bryan Cave.  James Lever at Livingstone Partners advised BCLP and LOD’s shareholders, while Stephenson Harwood advised Bowmark on the deal with a team lead by Jonathan Pittal. Jessica Adams at Macfarlanes advised for LOD and Alex Lewis at Baker McKenzie represented the management.
The contract lawyer business, which launched back in 2007 as part of BLP, two years ago merged with Australia’s AdventBalance, and last year posted global turnover of £35m, up 15% annually. The firm, which has operated as a separate business to BLP for six years, has expanded dramatically over the last decade to become one of the most high profile New Law brands in the UK.

Further weakening its links with BCLP will not only prime the business for further growth but make it easier for LOD to build on the 2015 deal with DLA Piper to widen its services to other major law firms. The business had initially focused largely on providing locum lawyers and services to in-house legal teams. After the sale, LOD will maintain a contractual relationship with BCLP to provide services.

‘We absolutely will be working with other law firms, but it wasn’t the primary driver for [the sale],’ LOD co-founder Simon Harper (pictured) told Legal Business. ‘It’s about a faster growth model with new service lines in new territories. It does feel like an important next step. The level of interest and excitement in the sector made the process very easy.’
newlaw  temp 
june 2018 by JordanFurlong
Law Firms Are Investing in Tech Before It Overtakes Them | The American Lawyer
But partnering with LegalSifter was also a recognition by the firm that it could offer its clients more than just legal advice.

“We do find that clients come to us principally for our legal advice, but they are also asking us to help with their legal operations,” Touzel says.

And Touzel believes law firms are in a better position than legal outsource providers to help with legal operations because clients usually want to work with one provider for all their needs—the ever-desirable one-stop shop.

Of course, TLT isn’t the only U.K. firm investing in AI contract technology. In 2016, Slaughter and May invested an undisclosed amount in Luminance, an AI contract review platform used by Cravath, Swaine & Moore, Corrs Chambers Westgarth and a host of other firms around the globe. Rob Sumroy, a partner at Slaughter and May and head of its technology and outsourcing practices, says the firm is “at the forefront of teaching the AI software.”

“We’re not software developers, but the market intelligence and machine learning has been driven by us,” he boasts.

For Slaughter and May, however, it’s not just a one-way street. While the law firm provides subject-matter expertise for Luminance’s development, it can also tap into the Luminance team’s knowledge and experience to further drive innovation in its own offices.

“There is a lot to be said about learning from experts in other industries, both in terms of what they do and how we can harness their expertise to improve our business,” Sumroy says. The firm is looking to improve not only through technology but also through “process improvements, agile resourcing models or, more generally, finding new creative solutions to our clients’ business problems,” Sumroy adds. But it is still keeping a watchful eye on technologies that will provide real benefits for its attorneys.

“AI, along with blockchain and data analytics, is one of the key areas of focus now and definitely provides lots of opportunities,” Sumroy says.
it  robo  firms  competition  newlaw  clients 
april 2018 by JordanFurlong
A Look at What's in Store for GE's In-House Counsel After UnitedLex Deal | Corporate Counsel
On Thursday, Corporate Counsel asked William Deckelman, executive vice president and general counsel of DXC Technology Co., which made a larger scale but similar deal with UnitedLex last December, whether that partnership has met his expectations.

“We’ve actually exceeded them,” Deckelman said. “I am a believer.” UnitedLex delivered on its promise of a 30 percent savings, and more, he said.

DXC expects to save $1 billion overall, with additional savings over the next five years. The company was able to implement a new digital contracting solution that can process more than 65 million contracts per year, as well as a central hub for all department communications, such as project management initiatives, training materials, and team calendars. New technology also helps with global monitoring, reporting and management of outside counsel spend.

Deckelman acknowledged the change was a culture shock that required a lot of communication, both with his superiors and his legal team.

Before the contract, DXC had around 525 lawyers, he said. Now it has 125. Another 225 lawyers “rebadged” and joined UnitedLex, but still work with DXC.

“We are doing the same amount of high-quality work with 40 percent fewer resources,” he said. “The productivity is much greater than I even expected.” The lawyers did not take salary cuts at UnitedLex, he added.

A few in-house attorneys quit, rather than join UnitedLex, he said, but there was no major attrition. “This is not for everyone,” Deckelman explained. “People have different aspirations in their careers, but by and large I think the team is happy and engaged and energetic.”

He said he has not received one phone call from a disgruntled employee.

The reason the Tysons Corner, Virginia, company can now do more and do it for less is because UnitedLex has “the technology platforms, the process discipline and the project management discipline to run that kind of operation,” Deckelman said. “They are very focused.”

The change has worked well for most in-house attorneys, he said, because it’s opened up a new world of opportunities for them. “They are seeing best practices not just here but in the entire market, and they see a career trajectory with long-term alternatives,” he said.
competition  process  innovation  clients  newlaw 
march 2018 by JordanFurlong
“NewLaw and BigLaw are stronger together”: Stephen Allen on Hogan Lovells’ flexible lawyering partnership with Elevate – Legal IT Insider
And what do you mean by ‘understanding of client service?’

They understand timeliness and it was important to us to have a global reach. Initially this service is for the UK market, but the intention is that we’d like to expand it globally, and having somebody who operates globally is important.

Tell us how your Elevated Lawyers pool will be used?

They’ve got an initial pre-approved pool. We have, through our own guidelines, a set of criteria that we require and Elevate will only initially connect us with people who meet our criteria. The intention is, over time we’d like to use this as an opportunity to work with our alumni. We spend a lot of money and time training people and maintaining that relationship is important. We know the chemistry is there and we will give an option to our alumni to join and Elevate will help us look after that alumni, which involves a lot of work in keeping them connected, organised and looked after.

Clients are always looking for access to help on secondments. There are times when we can fulfil that and times when it’s a challenge – we might have someone, but clients might want a nine year GDPR lawyer and we have a six year privacy lawyer. This partnership gives us an opportunity to offer something additional to our clients. But also, there are times when we’re busy on a project such as GDPR or Brexit, when for a condensed period of time there will be a lot of demand for the same sort of resources and the ability to call on this pool will be very important and will give us a pool with a defined criteria.

The key thing for me is that this demonstrates that both NewLaw and BigLaw are stronger when they work together – and Elevate would agree with that.
firms  competition  newlaw  innovation  process  offshoring 
february 2018 by JordanFurlong
The Law Firm Disrupted: A Big Change for 2018? | Law.com
Most law firm market observers by now understand the role alternative legal service providers can play. They offer a combination of labor-price arbitrage with a consultancy style view of implementing technology and processes to more smoothly solve client problems.

Pressure to keep profits high has traditionally constrained law firms from winning on price—something they usually are loathe to admit they try to do. And while some firms have found success with technology and process, it remains a relatively small portion of even those firms’ business.

Teaming up with a New Law entity would help law firms introduce both these services more smoothly to existing client relationships.

Meanwhile, New Law types often struggle against a perception that their services can be low-quality (think outsourcers) and only make economic sense for repetitive problems. So, what’s in it for them?

“Credentials,” MacEwen said. “And people who do have things like client relationships.”

MacEwen added that the alternative service providers he has spoken with often say they have stopped marketing to law firms and have instead been going straight to clients themselves. An introduction from a trusted law firm lawyer would go a long way toward winning that sales pitch, he said.

But perhaps in moments of change, the question should be framed differently. Rather than law firms thinking, “What’s in it for us?,” perhaps they should be asking, “What’s in it for our clients?”
newlaw  innovation  competition 
january 2018 by JordanFurlong
Exclusive: Radiant co-founders Giverin and McQuillen join PwC in major “new law” hire | Legal IT Insider
Radiant is focussing heavily on building and licensing out its proprietary tech products, with COO Serena Wallace-Turner, who co-founded Axiom’s Asia office in 2010, having joined in 2016 to help achieve that objective.
While all of the senior Radiant team see technology as central to the future of legal services, co-founder Alex Hamilton, who continues as CEO, told Legal IT Insider: “There were differences of opinion about the role of technology at the firm. I continue to believe that lawtech is a fundamental part of delivering managed legal services and we are already seeing opportunities to licence out products that we have built such as Remarkable and our new workflow platform as well as partnerships such as one with LexisNexis on contract analytics.  We have a fantastic team, greater clarity around direction and are very excited about where the market is going.”
Giverin said: “Joining PwC represented an opportunity that we couldn’t turn down. That’s not to say we’re not proud of what we achieved at Radiant but this is a natural next step.”
This is not the first time PwC has made a senior private practice managed legal service hire, having in 2012 brought in Berwin Leighton Paisner’s director of innovation and one of the architects of its Managed Legal Service, Stephen Allen, who left in 2014 to join DLA Piper as head of market strategies and is now global head of legal service deliveries at Hogan Lovells.
accountants  competition  innovation  newlaw 
april 2017 by JordanFurlong
The new spectrum of legal services | patrick dransfield | Pulse | LinkedIn
Our New Spectrum of Legal Services is intended to illustrate and provide examples of the various providers of legal solutions now available to the buyers of legal services. It is not intended to be encyclopaedic or exhaustive. We will continue to follow these developments and we look forward to hearing about more new start-ups and innovative solutions and services, which we will share with the In-House Community.

As veteran commentator on the legal industry, Richard Susskind, has put it:

“The competition that kills you does not look like you.”
competition  innovation  newlaw 
february 2017 by JordanFurlong
Stress testing Norton Rose Fullbright-LawPath's new online offer | Joel Barolsky | LinkedIn
$909.09 plus GST for a Norton Rose Fullbright (NRF)-drafted employee agreement plus two hours with a NRF lawyer to provide advice and additional drafting. This is one of the four online packages offered in a new venture between NRF and lawpath.com.au (LawPath).
newlaw  firms  innovation 
may 2016 by JordanFurlong
Now it's Norton Rose Fulbright and LawPath - Beaton Capital
“Using LawPath’s online platform, start-ups and SMEs can now access fixed-price packages, specially designed and built in a collaborative effort with Norton Rose Fulbright.
newlaw 
april 2016 by JordanFurlong
Legal Moneyball | Ultra Vires
When U of T Law’s Career Development Office announced an “Alternatives to Big Law” session, I expected a talk on public interest careers, maybe including some mid-size or rural firm practitioners. What I got, however, was a legal Moneyball session.
newlaw  innovation  schools  jobs 
april 2016 by JordanFurlong
Deloitte’s deal with Conduit Law continues its march into legal services | Financial Post - Linkis.com
If the other Big Four accounting firms follow suit — and there’s no reason to believe that they won’t — we could very well see a significant restructuring of Canada’s larger law firms to become boutique practices performing only legal work that requires the highest level of subject matter expertise, while outsourcing all other aspects of a particular matter to a member of the Big Four.
accountants  competition  laterals  firms  newlaw 
march 2016 by JordanFurlong
NewLaw escalates: Can law firms learn from their growth? | Ivan Rasic | LinkedIn
Ron Friedmann 1st
Consultant at Fireman & Company
Ivan - excellent analysis and comparison of data and graphs to draw conclusions. I agree that part of NewLaw's success stems from understanding sales management better than most of Big Law. (To you comment "Most of NewLaw have specialized teams for finding opportunities, and executing sales processes."). Law firms could replicate this but, so far, seem not to. Firms still do not distinguish clearly between marketing strategy, marcom, marketing execution, and sales. I believe that the biggest inhibitor to a more systematic approach to sales in Big Law is the tension between institutional and individual partner interests. Enterprise sales requires an enterprise mentality. With lateral partner mobility, that often lacks. I do see some signs of Big Law replicating NewLaw staffing models and unbundling, perhaps more so in the UK and Oz than in the US. Many UK firms now have some combination of flex-time, staff attorneys (for their own matters), staffing services (for clients). I see anecdotal evidence that flex staffing / staff attorneys are on the rise in the US as well. Getting getting data on it is very hard. In fact, When I pick-apart Am Law data 200 detailed data on numbers of attorney, I could not see it in the data. I don't know if that is a function of how Am Law collects data or if it means the anecdotes are just that. In any event, see Major, Lindsey & Africa Point 4 in their Jan 2016 "Big Law Look Ahead" at http://www.mlaglobal.com/community/thought-leadership/biglaw-2016-a-look-ahead forecasting more non-partner-track-lawyers in Big Law. Axiom was already starting its staffing business around 2000 or 2001. So it's had 15 years to grow a ~$175M business. I believe it was already in the projects and managed legal services business by 2011 so has had five years to grow a ~$65m business. I do not believe that past performance is an indicator of future growth so won't venture a forecast.
newlaw 
march 2016 by JordanFurlong
Making Foray Into Canada, Deloitte Acquires Conduit Law | Big Law Business
Now called Deloitte Conduit Law, the new entity will offer outsourced lawyers to support corporate legal teams and law firms, helping them meet business needs and deliver short-term projects, according to the press release.

Heather Evans, managing partner, tax, at Deloitte, said in the press release the company “is investing in new models … to address the evolving legal requirements of clients.”

Peter Carayiannis, founder and president of Conduit Law Professional Corp., said in the press release that the new business will provide a broader range of services within Canada.

“We’re not a start-up anymore, this is an exciting time,” said Carayiannis in the releas
accountants  newlaw  competition 
march 2016 by JordanFurlong
Less stressful divorce for the digital age | Gazette | University of Ottawa
Local legal data analytics company Miralaw has launched Thistoo, an application designed to streamline divorce in Ontario so separating couples can focus on the important emotional side of things. The idea behind Thistoo – “your personal divorce assistant” -- is to help people avoid the extra stress and high cost of taking their case to court.

Telfer MBA student John Lachapelle recently started an eight-month internship with the company. His role includes marketing the application to the public, and ensuring it is user-friendly. He writes blog posts that raise awareness of the app and help to simplify the technical aspects. He has also written the script for a promotional video.

“Obviously the world of law is very confusing,” he says, “but we can cut through that with data.”

The app draws on data from 58,000 publicly available court cases to help separating couples understand how their divorce is likely to resolve, and to navigate the legal labyrinth. Clients enter factors such as length of marriage; number and age of any children; and how any assets changed over the course of the relationship. The app then calculates the possible child support and alimony payments, and can help draft a separation agreement.
startups  newlaw  family 
february 2016 by JordanFurlong
Voice of Change
There are many non-traditional legal service providers, other professional organizations, and technology companies focused on succeeding within a defined scope of activity with lawyers engaged and ready to help them build a “better mouse trap.” Similarly, this may be the year even the most ardent skeptic will be compelled to acknowledge the presence and growth of the big consulting firms (a.k.a. the Big Four accounting firms) as major legal service providers in our own back yard. These employers, as well as others are very interested in the total package of skills a lawyer can bring to business growth. Because their structure and DNA differ from the traditional partnership model, they deliver services on a different economic model and recognize that legal service delivery is a three-legged stool that includes legal expertise, business process, and technology. It is also client centric, not partner centric.
newlaw  startups 
february 2016 by JordanFurlong
Alt.legal: The $21BN Contract Lawyer Marketplace is Up For Grabs, ‘Hire An Esquire’ Plans to Catch It | Above the Law
The founding team at legal startup Hire an Esquire began our interview with a number that blew me away: $21 billion dollars — the annual spend on legal contract labor in the US according to an IBIS World report. The Hire an Esquire team is determined to “rebuild this massive market with technology, and to provide an entrepreneurial path off the beaten partner track for lawyers.” Pretty alt.legal to me.
temp  flex  innovation  newlaw 
february 2016 by JordanFurlong
Cognition LLP Announces Corporate Reorganization, Acquisition by Axiom and Establishment of Caravel Law | Business Wire
TORONTO--(BUSINESS WIRE)--Cognition LLP announced today the reorganization of its business to align more specifically to its two primary customer lines: larger corporations with legal departments (General Counsel Clients) and small/medium enterprises without in-house legal counsel (SME Clients). Axiom Cognition will focus on Canadian General Counsel Clients and will be acquired by Axiom at the end of January, while Caravel Law, a newly established professional corporation, will concentrate on SME Clients. Both Axiom Cognition and Caravel share the mission of providing innovative, cost effective legal services and technology-enabled solutions to their respective client bases.
newlaw  laterals  competition  flex 
january 2016 by JordanFurlong
Axiom to Acquire the General Counsel Business of Cognition LLP | Business Wire
As part of the deal, Cognition LLP will separate into two distinct entities: Axiom Cognition, an Axiom corporation serving corporate clients with in-house legal departments; and Caravel Law, a law firm serving small and medium sized enterprises without internal legal departments.
newlaw  laterals  competition  flex 
january 2016 by JordanFurlong
National firm invests in online disruptor
National firm Gilbert + Tobin has invested in online legal services provider LegalVision, providing funding that will help drive its growth and an expansion of its services.

The investment will create opportunities for Gilbert + Tobin and LegalVision to collaborate and serve the needs of larger commercial clients with efficiently delivered, quality legal solutions.

Gilbert + Tobin managing partner Danny Gilbert said: “For a while now we have been examining how the use of new technology and processes can provide efficiencies and improvements for current and future clients.”
r&d  competition  newlaw  australia 
november 2015 by JordanFurlong
Trade Promotions | Plexus
Trade promotions are amongst the most frustrating legal tasks that fall within the ‘red zone’ – lower risk/lower value, high volume activities that ‘clog the arteries’ of in-house teams. Ensuring compliance with the shifting sands of state-by-state regulations makes the process slow, and unnecessarily complex – delaying turn around times, increasing risk and driving up cost. Whether performed ‘in-house’ or by a law firm, the cost of trade promotion management is disproportional to the value. Marketing and sales teams are frustrated by how long the process takes and lawyers hate having to do them – which in turns drives down employee engagement.
newlaw 
november 2015 by JordanFurlong
Lessons from NewLaw: Three ways to flex your operating structure | Nick Jarrett-Kerr
Traditional law firms can flex part of their fixed cost base to provide a more variable on-demand provision. BLP’s Lawyers On Demand and Pinsent Masons’ Vario businesses were primarily developed to provide a fresh approach to legal resourcing for corporate clients. But, they are increasingly being used to cope with their own peaks and troughs in client demand as well as to meet the needs of high-value lawyers who want more flexible lifestyles.
newlaw  innovation  flex 
november 2015 by JordanFurlong
Legal outsourcing on the rise in Australia
While some Australian lawyers remain hesitant about sending work offshore, GCs and firms are beginning to embrace outsourcing services.

Kevin van Tonder, a director at legal process outsourcing (LPO) provider Exigent, believes third-party providers are becoming more popular among Australian lawyers.

“From my observations, there is an increase [in LPO use], but it's still early days,” he said.
outsourcing  process  australia  newlaw 
june 2015 by JordanFurlong
New legal resourcing company launched » Corrs Chambers Westgarth
Corrs Partner and Practice Group Leader of Employment, Workplace Relations and Safety at Corrs, John Tuck, said Orbit brings together a team of experienced lawyers who will fulfill the temporary in-house legal demands of our clients and other businesses.
newlaw  australia 
june 2015 by JordanFurlong
Small but mighty
Keypoint services the SME and private client market. By offering clients more direct contact with senior lawyers the firm eliminated the multi-layered management structures that push as much work as possible to the most junior members of the practice.

Because Keypoint has abandoned the partnership model, principals aren’t required to meet billable hours and revenue targets, or file budgets a year in advance and undergo annual performance reviews. That means greater flexibility.

No longer defined by the narrow constraints of reaching billable hour targets, and the holy grail of partnership, lawyers can focus on designing bespoke practice
newlaw  australia  competition  innovation 
march 2015 by JordanFurlong
This is the Boat: Stop Waiting for the Next Big Thing — By David Curle
* The overwhelming focus of the day was on process. Specifically, and for both traditional law firms and NewLaw providers alike, the road ahead will be dominated by the separation of the process-oriented parts of legal work from the advice and representation aspects of legal work. Those latter high-value, bespoke services aren’t going away—but we are likely to be surprised by how much of legal work is process-based and can be rationalized.
newlaw  innovation  process 
march 2015 by JordanFurlong
Fresh thinking on the evolving BigLaw–NewLaw taxonomy - Beaton Capital
Why I have made this change. Wikipedia refers to the ‘principles that underlie such classification varying notions of the “core” and “penumbra” of the meanings of a concept’. The purpose of classifying in this way is to enable ‘the progress of reasoning (to) proceed from the specific to the more general’. While there are aspects of the differences in the types of legal services provider that may be regarded as a continuum, e.g. the extent to which a traditional firm chooses to ‘remake’ itself (how many things it changes), there is very little to no gradation between a BigLaw firm and a LPO. Their ‘DNA’ is different, hence they fall in different taxa.
newlaw 
february 2015 by JordanFurlong
CBA National Magazine - Big law vs. new law
The Australian legal industry is in a state of flux as traditional full-service law firms jockey for position in a marketplace agitated by their upstart New Law competitors. 
global  newlaw  firms 
february 2015 by JordanFurlong
The Story Behind Clearspire's Demise | The American Lawyer
"Clients don't hire IT platforms," says Clearspire's ex-head of labor law, Wendy Fischman. "They hire lawyers. The concept of nonlawyers promoting a law firm and basing their pitch on technology doesn't work."
Cohen says he believes the bigger problem is that Clearspire failed to attain critical mass. Cohen says senior legal officers at the Fortune 500 would tell him: "We don't doubt that you have good smart lawyers. We like the fixed price and so many things about what you do. At the end of the day we don't think you have the breadth or the depth for a large company to consider for broad or significant matters."
newlaw  innovation  it 
august 2014 by JordanFurlong
A Brief Inventory of NewLaw in Australia
We used that definition in a post earlier this year at Jordan Furlong’s Law21 blog, “An incomplete inventory of NewLaw,” which listed more than 80 entities that qualified under this definition. But most of these examples hailed from the United States, Canada, and Great Britain. At the invitation of ALPMA, and drawing upon the knowledge base of Edge International’s Australian partner Sean Larkan, we’ve produced a similar inventory for the local legal market.  
jf  newlaw 
august 2014 by JordanFurlong
The Legal Whiteboard
Is it important to help law students understand the disruptions that are now occurring in the legal industry?  Well, let me ask a more fundamental question.  How can a law professor efficiently obtain better information on these complex and diffuse changes? None of us legal academics are experts in this area, and that's a problem in and of itself.

In the process of struggling with these questions, I decided to carve out 15% of the grade in my Corporations class for team-based profiles of NewLaw companies.  Here is how I described the conundrum in my syllabus:
newlaw  innovation  schools 
november 2013 by JordanFurlong

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