Virtual Law Firms
"The Times They Are a Changin"
Bob Dylan, Nobel Laureate
Traditional law firms still operate under business models that are over a century old. They have gotten away with this because until now, there weren't viable alternatives to BigLaw.
Enter the Virtual Law Firms.
The first firms innovated simply by offering a virtual platform and paying 70 or even 80% on work that was originated and billed by their partners. While that is sufficient for many attorneys, we do not consider such firms to be the kind of viable alternative to BigLaw that Mr. Shelton writes about in this Attorney at Law Magazine Article.
There are currently over 50 law firms that are either completely virtual or a hybrid of brick & mortar offices with the option to work virtually, part of full time.
To date, we have accepted only four such firms as clients. This is because we carefully vet these firms to ensure that the all of the following attributes are present:
High-End Market Position & Practices (e.g. M&A, Commercial Litigation, Patent etc.)
Top Tier Law Schools and / or AmLaw Attorney Bio's
Real Marketing Support
Complete Back Office Support
Solid Professional Staff Support (Paralegals, Docketing etc.)
Cross-Selling and Collaboration
Control Over Rates & Structure (including Alternative Fee Arrangements)
Control Over Lifestyle
Compensation of 70 - 80% on Book of Business
We only accept the firms who have every attribute listed above as a client. Each of our clients have their strengths and weaknesses but the fact that they are on our client roster, makes clear they are the best of their kind. To view their websites and get a comprehensive fact sheet on any or all of our clients, feel free to contact us.
To schedule a call with one of our consultants, click HERE.