You may have heard about alternative finance, but what about alternative lawyers? Well not, alternative lawyers per se, but thanks to a legal tech start-up there is now a new way for SMEs and entrepreneurs to find a suitable lawyer.
When I first heard about this I was intrigued as I know many of my clients get frustrated and find it incredibly difficult to find the right lawyer at the right price. Que, Lexoo, a company transforming the way SMEs and entrepreneurs find a lawyer. Since launching in 2014 the company has experienced a 25% month on month growth, showing the need for such a service is evidently there.
So, what is this all about?
In short, Lexoo matches SMEs and entrepreneurs with hand-picked lawyers. This is achieved by the SME or entrepreneur posting the job they need a lawyer for on Lexoo, they are then guaranteed to receive three to four, usually fixed fee, quotes from screened lawyers with expertise in the relevant legal area they require. What I found so impressive about this, is the time it is going to save SMEs and entrepreneurs. Instead of trawling the internet and calling countless lawyers they can now see up-front costs for several screened lawyers, which are relevant to their business. It will now be interesting to see what effect this service will have on the legal sector and whether many law firms will begin to offer more competitive prices. Already, Lexoo claim that the average saving for businesses using their service is 46%.