LEGAL PROS changes it’s strategic plans to better meet criteria of platform economies, by making registering and participation in LEGAL PROS’s platform easier, creating additional value for it’s users and an exchange platform for legal professionals, which will disrupt the legal industry.
“Reading ‘Platform Revolution’ by Geoffrey P.Parker, Marschall W. von Alstyne and Sangeet Paul Choudary, has lead to a strategic enlightenment” says Konstantin von Reden-Lütcken, MBA (Steinbeis), CEO of LEGAL PROS.
Platform Revolutions, a must read for anyone active in the business of networks or platforms states that platform economies will disrupt existing industry structures, which are at the present characterized as being information-intensive, consist of non-scalable gatekeepers, are highly fragmented and comprise an information asymmetry.
This is the case in the legal consulting industry, which definitely is information-intensive. Established law firms and networks of law firms are the gatekeepers of the industry, which have created high barriers for young legal professionals to enter their playground and which keep on rising the financial barrier (fees) for companies to receive qualified advice. The legal service industry is highly fragmented as there are experts for every kind of law in any jurisdiction and the whole industry is quite in-transparent. Many professionals offer the same advice for different fees. Whereas particularly large law firms claim to offer professional advice at highest quality, it should be expected from any legal professional, who claims to be an expert in a certain field, to being able to work on the highest level of quality.
LEGAL PROS strategic vision is to “create a platform, which enables professional communication and exchange between legal professionals, law firms and companies, which creates transparency, direct expert contact, information advantages and financial benefits for all users.”
Through LEGAL PROS companies will be able to directly contact legal experts to seek qualified solutions. Companies and staffing agencies may be able to seek contact with legal professionals to easily staff legal projects such as document reviews or due diligences. Law firms may outsource a network of associates, who may be accessed on a case by case basis without creating overhead costs within the law firm’s own infrastructure. Legal professionals may enjoy professional freedom by using LEGAL PROS as their source to organize their professional lives from acquisition of clients and tasks to utilizing tools for time/taks- tracking, accounting and billing offered by LEGAL PROS.
To achieve this, LEGAL PROS invites all legal professionals, law firms, companies, recruitment agencies, students of law, law clerks and it-professionals to join LEGAL PROS and to become active to create a scalable network environment for the benefit of everyone involved. This will not only comprise information sources such as an industry blog and wiki but also a contract- and guideline – library established by LEGAL PROS’s users as well as tools to track bilateral projects and legal services rendered from one user to the other as a source of transparency and administrative support. By getting involved, users will be able to earn LEGAL PROS participation credits, which will earn LEGAL PROS certifications (badges).
Please visit https://www.legal-pros.eu for registration and further information while LEGAL PROS works on establishing all the features described above.
Konstantin v. Reden-Lütcken, MBA (Steinbeis),
CEO LEGAL PROS