on an array of different topics. Choose from the categories above or just view the most recent articles here.
Changing the Legal Business Model
Posted: December 23rd, 2008
By: Frank Furbacher
Category: Technology Corner, The News Beat
Axiom Legal has gone against the grain of the traditional legal business model by creating a sort of virtual law firm. Axiom provides the same high quality service as a large firm, except the lawyers are doing business from home offices or client offices rather than a physical main office.
The overhead most law firms deal with (assistants, maintenance, phone and internet services) is not part of the Axiom model which allows for them to bill by the day rather than by the hour. The company's founders, Mark Harris and Alec Guttel, are not partners in the firm, but rather turned the firm into a corporation.
By cutting the cost of high priced, downtown real estate and substituting the partner structure with a corporate one, Axiom can cut costs to be 50% lower than the country's top firms.
The Axiom model not only makes clients happier with their lower costs, but also allows for their attorneys to work with freedoms they would not typically receive in a large firm. The hours Axiom employees work are much more convenient and they get to enjoy a greater variety of work.
While the traditional legal business model will likely never become extinct, more attorneys will be seeking the freedoms a company like Axiom Legal can provide. Most of the legal industry laughed at the fact that a "virtual firm" could be successful, but in these hard economic times we are seeing more and more firms transition to the "work at home" style.
Post a Comment |
(0) Comments |
Permanent Link | Go Back
Comments
There are no comments for this post.

