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In-House Gives Mixed Reaction to UnitedLex, LeClairRyan Legal Services Venture | Legaltech News
“Large corporations look for the ability to holistically address their challenges,” explained UnitedLex CEO Daniel Reed, adding that ULX Partners will allow law firms to provide corporate clients with non-transactional solutions.

Denniston said, “It might help some companies with small legal departments. But outsourcing is not new. This is just a broader expansion of it.”

He said law firms and companies have already been outsourcing to UnitedLex, including his old company GE and his law firm, Goodwin. “UnitedLex is not a secret. It’s not hard to find them. And you don’t have to go to LeClairRyan to locate them.”

Denniston said the venture “may develop into something [of value to GCs]. But based on the announcement, you can’t conclude that.”

Deckelman disagreed. “The value proposition is: the firm lawyers are freed of [many] of the administrative headaches and can focus on higher-value work for clients,” he said. “At the same time, UnitedLex can significantly enhance the law firm’s client service capabilities through leverage of UnitedLex’s technology, process design and project management discipline. “

Deckelman said the UnitedLex technology also could help manage a client’s litigation portfolio, including cases being handled by other law firms.
innovation  sharedservices  it  ethics  clients 
june 2018 by JordanFurlong
UnitedLex and LeClairRyan Announce Innovative New Law Venture | The American Lawyer
Daniel Reed
“Large corporations look for the ability to holistically address their challenges,” said Reed, adding that ULX Partners will allow law firms to provide corporate clients with nontransactional solutions.

Both Reed and Gustafson said that law firms will have more certitude about their operational costs, which could therefore offer clients’ set costs with less risk. But perhaps the biggest attraction for law firms is a pathway to funding from outside investors.

“Law firms are partnerships. They are less well structured to invest in the range of needs their clients have,” said Reed about an issue that has bedeviled some, but not all, firms in Big Law.

Joining a venture like ULX Partners, Reed said, will give firms access to investors’ cash for technology purchases that fulfill client needs, even when those buys are not immediately repaid with clients’ legal fees.

“[ULX Partners is a] bridge that enables firms to be successful in this rapidly evolving business world, where CEOs, CFOs, boards of directors and procurement departments are saying, ‘Why is it that legal is the only area where spend has not yet been put under the crucible of both effective and efficiency measures?’” Reed explained.
innovation  sharedservices  it  ethics 
june 2018 by JordanFurlong

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