Archive for November, 2013

Is Legal Industry Ready for Big Data? (II)

Wednesday, November 20th, 2013

Think more. And maybe we (software guys) should think in lawyer’s ways. Here is my speculation from solo or small law practice firm perspective.

What keep me from forming my own law practice firm?

First of all, the cost associated with opening one’s own firm. Such as, administration stuff, email, fax, phone, .. office administration. Very up to date log of ongoing cases. So far, we are talking about both hardwares and human investment.

Second. It is hard for solos to get clients. How to such lawyers marketing themselves? After all, it could be expensive to get the message out, especially, lawyers are particularly good at marketing, well, not blame them though. I’d rather my lawyer a terrific lawyer not just a so so lawyer with great marketing talent.

Third. Law practice depends on quite heavily on experience and knowledge. How to provide better service is a question and as well as  a challenge? Because after all, for a client, it is about one thing–winning. If we know there is only one person who could help winning a case, every calculation would be different. A bigger firm presumably has lots of talent pool to help on cases. Why should a client choose a smaller firm or solo practicer if the perception is insupprior?

Last but not least. What’s the pricing position for small firm or solo? In general, it should be lower than the big firms, but if the case is small, how much lower can you go? Presumably, the cases they get are very likely small. The margin of profit at the end of day might be very small.

This is my small survey type of conversation with different people and so far it pose a daunting task for software. But it is not impossible to crank the legal industry from other perspective/targeted users though. Even just focus on those concerns, one could make some software products to contribute. Anyway, it’s worth taking those concerns into consideration in advance.