Lawyers On Demand Comes of Age
Spin-out begins a new chapter in the evolution of LOD and reflects continuing change in the legal services market
Berwin Leighton Paisner (BLP) and Lawyers On Demand (LOD) announced today that the LOD business will be transferred into a separate company on 1 June 2012, while maintaining close ties with BLP.
BLP partners agreed to LOD’s new structure yesterday after incubating the business since its launch in 2008. BLP will remain an integral part of the LOD offering to general counsel and their in-house legal teams and will retain an 80 percent stake in the new company, with co-founders Jonathan Brenner and Simon Harper together leading LOD and sharing 20 percent.
In the four years since its launch LOD has gone from strength to strength, growing its turnover to over £7m and its team of freelance lawyers from a pilot of 8 to a team of over 100, attracting well-known companies such as Orange, BSkyB, Cisco, and The Financial Times as well as a number of major banks. Increasingly, the business has also been receiving enquiries from Top 100 private practice law firms, keen to explore how LOD could help them find new ways of resourcing their own internal teams.
The rationale for the spin-out is to give the LOD business a more independent and accountable platform to pursue its future development. LOD is now a known and respected entity in the marketplace with an impressive track record, and will have greater opportunity to pursue future growth plans in the new structure.
LOD co-founder Simon Harper said: “BLP’s support has played a huge part in LOD’s success to date and will continue to do so going forward. It’s a fascinating time of disruptive changes in the way legal services are delivered and, by offering lawyers and clients a different way to work, we’re enjoying being right at the heart of those changes.”
Harper’s co-founder at LOD, Jonathan Brenner said: “It’s incredible to think that a spark of an idea four years ago, based on the changing requirements of clients and a new way of working for lawyers, has developed into a profitable business with a team of over 100 talented lawyers.”
BLP Managing Partner Neville Eisenberg said:“BLP is well-known for innovative thinking in our client services. We encouraged Simon and Jonathan when they first came up with the idea because it so directly addressed a need on the part of our clients. LOD is a good example of how a new business model can flourish in the right environment and represents part of our response to the changing requirements of our clients in sourcing legal services. Through the team of high-quality LOD lawyers, the firm has also benefited from being able to better manage our own resourcing requirements. The next phase of LOD’s development is a natural step and the business will continue to enjoy our support.”
A refresher on the LOD offering
Originally incubated by international law firm Berwin Leighton Paisner, Lawyers On Demand (LOD) is both an alternative legal resourcing solution and a new way of working for talented lawyers. Seeing that both clients and lawyers were looking at ways to work differently in the 21st century, LOD was launched in 2008 to shake up traditional models. It now has a team of over 100 freelance lawyers of the highest quality working with some of the world’s top companies and has caught the imagination of the changing legal marketplace.
LOD is in the centre of a major shift in the legal services market which has resulted from the disruption caused by the interaction of regulatory change, economic climate and new technologies. In this context, its appeal is obvious:
• for LOD’s clients it’s the ability to flex their legal resource with talented lawyers as and when they need them, at a low cost base
• for lawyers, it’s the opportunity to take some control over their way of working without compromising the level at which they are used to operating.
By expanding its client base to other law firms, LOD will take a further step towards its vision of being the go-to hub for talented lawyers across the whole commercial legal sector who are looking to work on a freelance basis.
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