Bloomberg Law’s Post

Speaking with Danny Gilbert about his experience co-founding law firm Gilbert + Tobin more than 30 years ago, how the market has since changed and how challenging that would be to do again today, I was struck by all the questions he constantly has in mind. "The house is never built" was a theme we returned to a couple of times in our interview for Capital Brief: "You can't build a brand of distinction unless you've got the best lawyers, and you've constantly got to be asking yourself that question. You've got to determine, where do we want to practise? What is the focus of the practice? Who are our clients, what's the sort of work we're doing? And then you have to ask yourself the question, do we have the best people? Are we developing the best people to take ownership of this space in the market? The house here is never built. You've got to be constantly re-examining and thinking about that question."

Great project by John Scrudato at Latham & Watkins - check it out. Great to see folks at law firms building products for the market. Also see for example the AL story before this one about CompetitionAI, built by a lawyer who is still at Clifford Chance. LINK: https://lnkd.in/efWymXzn #legaltech #buildingbuildingbuilding

The legal tech space is moving fast on generative AI. OpenContracts is a great example of how we might move beyond the chatbot interface to integrate human and AI document analysis. I am a particular fan of the Don't Repeat Yourself philosophy underlying the project. #legalinnovation #genai

Big news in the legal industry! Lawfront has officially acquired Slater Heelis, marking a milestone for both firms in their remarkable journey. This acquisition isn’t just about expanding Lawfront's footprint; it’s a strategic move to deepen expertise in AI, marketing, finance, and compliance. What does this mean for clients and the market? For starters, the synergy between Lawfront's technological prowess and Slater Heelis' comprehensive legal services promises an elevated service experience. Clients can look forward to a blend of top-notch legal advice bolstered by cutting-edge technology. But it's not just about the immediate benefits. This acquisition points to the larger trend of legal firms embracing technology to meet evolving client needs. As the legal industry continues to transform, partnerships like this one are paving the way for a new era where legal expertise meets tech innovation. For both Lawfront and Slater Heelis, the journey doesn’t end here. The fusion of their strengths is set to redefine service delivery within the legal sector, expanding reach while maintaining their commitment to excellence. Let’s watch this space as they navigate this exciting new chapter together. This move isn’t just a win for both firms; it’s a win for the entire legal industry, showcasing the power of collaboration and innovation in driving success and client satisfaction. #LegalInnovation #Acquisition #TechInLaw

BREAKING NEWS! Wendell R Jisa, a Lifetime of Innovation and Disruption! This great article highlights some of the reasons why I love working with my inspirational leader. 🏆 Celebrating Wendell Jisa: Lifetime Achievement Winner at the 2023 Legalweek Leaders in Tech Law Awards! 🏆 The journey: Starting from delivering boxes to law firms in Chicago, Wendell Jisa has revolutionized the legal tech industry. As the Founder & CEO of Reveal, he has transformed the company into a global powerhouse valued at over $1 billion through strategic innovations and acquisitions, such as Mindseye, NexLP, and most recently, Logikcull and IPRO. Driving Legal Innovation Under Wendell’s leadership, Reveal has not only expanded its technological base but has also intensely focused on AI, making legal processes more efficient and inclusive. Reveal's AI-powered platform is a testament to Wendell’s vision, featuring advanced tools like adaptive AI and behavioral analysis to enhance eDiscovery and legal investigations globally. Impressive Growth His approach to mergers and acquisitions, particularly the dual acquisitions strategy, has significantly fortified Reveal’s market position, offering a suite of synchronized legal tech solutions that deliver comprehensive eDiscovery capabilities. 📖 Learn More About Wendell’s Journey: https://lnkd.in/dbkCnEKk 👏 Join me in applauding Wendell Jisa for his enduring impact on legal technology, making the legal industry more efficient, inclusive, and forward-thinking. #lifetimeachievement #legaltech #allinonai #futurelaw

Couldn't make #Legalweek2024? We've got you covered! Our team put together a list of five key takeaways for midsize law firms from the event. ⭐ It's time for mid-market law to shine ⭐ A strategic plan is key ⭐ AI is all the rage, but it needs to be taught and practically used ⭐ Importance of change management and tech adoption ⭐ Law firm leadership is changing Read more about our roundup of insights here: https://okt.to/CQUo5p #Legalweek #LegalweekInsights #MidsizeLawTrends #MidsizeLawInsights #MidMarketLaw #LegalTech #LegalTrends

Luminance, a leading legal technology firm revolutionizing contract processes, has secured $40 million in its latest funding round, with March Capital from Santa Monica spearheading the investment. Joining the funding consortium are National Grid Partners and prestigious London-based law firm Slaughter and May, marking a significant milestone in Luminance's growth trajectory. Specializing in simplifying contract creation, negotiation, and analysis, Luminance leverages cutting-edge technology, including AI, to streamline legal workflows. The Series B funding round underscores the increasing investor confidence in the transformative potential of AI-driven solutions in the legal sector. In addition to Luminance, other AI-centric contract companies like DraftWise, Spellbook, and RobinAI have also attracted substantial investment in 2024, reflecting the burgeoning demand for innovative legal tech solutions. Eleanor Lightbody, CEO of Luminance, highlights the company's distinct competitive edge, rooted in its proprietary language model trained on millions of legal documents. Originally targeting law firms, such as Clyde & Co., Luminance expanded its market reach to include corporate clients, catalyzing its recent growth surge. Among its diverse clientele are industry giants like Koch Industries, Hitachi, Liberty Mutual, and LG Chem, underscoring Luminance's appeal across various sectors. Since its inception in 2015, Luminance has experienced exponential growth, previously raising $10 million in 2019, valuing the company at $100 million. While the current valuation remains undisclosed, the company's expansion plans in the United States, fueled by the latest funding infusion, signal a new chapter of innovation and expansion. With a workforce of approximately 150 employees, Luminance is poised to further solidify its position as a trailblazer in the legal tech landscape. #luminance #ai #techinnovation #legal #funding #fundingalert #fundraiseralert #allboutcorps

In today's evolving legal landscape, technology, including generative AI, is often seen as the key to future success. However, as I discovered during a recent conference with elite trial lawyers, the real challenges many law firms face go beyond tech. In my latest blog post, Law Firm Management: It's Not All (Only) About Tech, I share insights from my conversations with industry thought leader John C. Trimble. We explored two significant issues impacting small and mid-size law firms: 1️⃣ Succession Planning: How do we address the delicate balance of transitioning leadership while honoring the contributions of senior partners? 2️⃣ Business Acumen: Are we equipping our lawyers with the business skills necessary to run successful firms in today's competitive market? What do you think are the most pressing issues in law firm management today? 💬 #LawFirmManagement #LegalIndustry #SuccessionPlanning #BusinessAcumen 

A legal tech news round up from Legaltech News. Enjoy. https://lnkd.in/e3V9ThJS #legaltechnology #legaltech

Out Now: Episode 225 of #GrowYourLawFirmPodcast with Jon Cumberworth -- Don't miss this one! Here's a glimpse of what you'll learn: ⭐ the vital role of a fractional COO in law firms ⭐ importance of clarity in vision and communication for team alignment ⭐ how to leverage AI to optimize efficiency and profitability ⭐ the stages of strategic law firm growth ⭐ how to ask critical questions that help identify your unique business needs ...and more! Listen now: https://buff.ly/3Oo93uh #GrowYourLawFirm #GrowYourLawFirmPodcast #KenHardison #pilmma #personalinjurylaw #lawfirmowner #attorney #lawyer