The subscription-based model of LegalVision has helped it become the fastest-growing law firm in the Asia-Pacific region; it has been described as the “Netflix of legal advice” because of the way it is disrupting the industry.
“We operate very differently from the traditional law firm,” according to head of marketing, Anthony Lieu.
“A lot of law firms now are trying to add technology to their stack, but this is a short-term view for a partnership model in investing technology,” he told a recent Adobe virtual event.
LegalVision comes at the industry from the opposite direction, having begun life as an online legal documents business, using technology to understand and service clients in an efficient and cost-effective manner.
Its subsequent move into the full legal arena was a departure from the practice of most law firms in that it operates primarily online: “We put the client at the centre of everything we do and address pain-points that the client experiences with the traditional model,” Lieu explained.
Clients can obtain legal advice quickly by talking to LegalVision’s lawyers online or by phone. An in-house development team works on documentation automation and machine learning to improve efficiencies.
“We see ourselves as a tech company disrupting legal services,” Lieu said. (For more details, read WARC’s report: How an Australian law firm is raising the bar for online-offline client experiences.)
The most recent example of that disruption came last November, when it launched a legal advice membership service, offering a monthly subscription to unlimited lawyer consultations, legal templates and fixed-fee discounts for businesses – a reversal of sorts to the legal industry’s standard practice of time-based billing that makes for hefty bills at the end.
“It’s the first of its kind in the industry, and we’ve seen rapid take-up from our clients,” said Lieu. Most of LegalVision’s clients, he added, have come onboard as members.
“A lot of B2B and SME business owners, startup founders and in-house counsel teams want peace of mind. Any time they have a legal question, they want to be able to pick up the phone and get an answer to that question very quickly,” he said.
“We definitely think it is the future of our company.”
Sourced from WARC