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This week, we sit down with Conrad Everhard, founding partner of Flatiron LLP, a pioneering law firm that has revolutionized M&A services with their innovative flat fee model. Conrad shares the fascinating origin story of Flatiron, its unique approach to legal services, and the challenges and successes they’ve encountered along the way.

Everhard recounts the inception of Flatiron LLP, co-founded with Mark Haddad and Lenny Nuara, former big law partners, who sought to modernize legal services post-financial crisis. Despite their elite backgrounds, reentering the private law firm space proved challenging due to their detachment from Big Law for a few years. Driven by their frustrations with Big Law’s resistance to change and the convergence of factors such as acceptance of virtual models and access to senior labor, they took the bold step of founding Flatiron. This new model law firm leverages technology and client-focused solutions to disrupt traditional legal services.

When it comes to Flatiron’s groundbreaking flat fee M&A services, Conrad explains that the motivation behind this disruptive approach was to bring more transparency, predictability, and cost-efficiency to the fee structure. Over several years, Flatiron has honed a model that relies on low overhead, innovative labor deployment, and technological advancements. They operate on a general contractor model, utilizing a network of expert contractors on a project basis, which allows them to offer high-quality services at a lower and more predictable cost compared to Big Law.

Conrad highlights Flatiron’s development of “Deal Driver,” a workstream efficiency platform that streamlines the M&A process. Initially created as an internal tool, Deal Driver organizes and manages data through each phase of a deal, incorporating AI and human intelligence to enhance efficiency. This platform has not only improved their internal processes but has also gained popularity among clients, leading to its spin-off as a proprietary platform. The success of Deal Driver underscores Flatiron’s commitment to innovation and client satisfaction.

Flatiron’s unique labor pool taps into senior associates and counsel with elite firm backgrounds who, for various reasons, seek alternative work environments. Flatiron offers better pay and a more flexible, engaging work culture, attracting highly skilled professionals. Conrad emphasizes the importance of their “coolness factor” in recruitment and client acquisition, noting their collaborations with Stanford Codex and the positive reception from private equity clients who appreciate their efficiency and data management capabilities.

In the crystal ball segment, Conrad speculates on the future of the legal industry. He predicts that traditional Big Law firms may eventually adopt more innovative models, possibly through spin-offs or off-brand ventures, to stay competitive. Additionally, he foresees alternative legal service providers and sandbox experiments in places like Utah and Arizona challenging the traditional legal market. Despite the potential for disruption, Conrad remains confident in Flatiron’s model, emphasizing the green field of opportunities ahead and their readiness to adapt and innovate continuously.

Listen on mobile platforms:  ⁠⁠⁠⁠⁠⁠⁠⁠⁠

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Contact Us: 

X: ⁠⁠⁠⁠⁠@gebauerm⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠@glambert⁠⁠⁠⁠⁠
Email: geekinreviewpodcast@gmail.com
Music: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠⁠⁠⁠⁠⁠

Flatiron LLP: ⁠flatiron.legal
Conrad Everhard on LinkedIn: ⁠Conrad Everhard⁠
Email: ⁠ceverhard@flatiron.legal⁠
Flatiron’s Deal Model
Negotiation Simulator
Demo at Codex
Article on Fixed M&A Deals

TRANSCRIPT

Continue Reading Inside Flatiron’s Flat-Rate M&A Model with Conrad Everhard

In this episode of The Geek in Review Podcast, hosts Greg Lambert and Marlene Gebauer interview⁠ Richard Tromans⁠, founder of Tromans Consulting and ⁠artificiallawyer.com⁠. Tromans shares his insights on the future of legal innovation and the upcoming ⁠Legal Innovators California conference⁠, scheduled to take place on June 7-8 in San Francisco.

Tromans begins the conversation by highlighting the role of artificial intelligence (AI) in the legal industry. He emphasizes the importance of not only adopting AI but also using it to its full potential to deliver better legal services. He also discusses the potential impact of AI on law firm business models.

Moving on to the topic of alternative legal service providers (ALSPs), Tromans examines their role in the legal industry and how it has evolved over time. He believes that the future of ALSPs depends on their ability to embrace technology and shift their focus from being mere “bodyshops” to incorporating more sophisticated technology and consulting services.

The discussion then moves on to the Legal Innovators California conference. Tromans shares his views on what attendees can expect, including insights into the latest legal innovation trends, opportunities for cross-fertilization between private practice and in-house legal teams, and exposure to a variety of ALSPs.

Tromans also shares information on his own platform, artificiallawyer.com, which provides news, features, and educational videos related to legal innovation, and the upcoming conference. He invites listeners to check out the conference website, legalinnovatorscalifornia.com, for more information.

Tromans emphasized the need for the legal industry to shift its focus from traditional metrics like profits and risk reduction to a more holistic approach that considers broader outcomes. He believes that this shift will take time, but he is hopeful that the Legal Innovators California conference and similar events will pave the way for the industry to move forward in this direction.

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Contact Us:

Twitter: ⁠⁠⁠@gebauerm⁠⁠⁠, or ⁠⁠⁠@glambert⁠⁠⁠
Voicemail: 713-487-7821
Email: geekinreviewpodcast@gmail.com
Music: ⁠⁠⁠Jerry David DeCicca⁠⁠

⁠Transcript⁠

Continue Reading Richard Tromans on the Future of Legal Innovation and The Legal Innovators California Conference (TGIR Ep. 201)

This week, we have a jam-packed episode featuring five of our colleagues from a 2022 American Association of Law Libraries panel on APIs.
  • Emily Rushing, Director of Competitive Intelligence, Haynes and Boone, LLP
  • Pam Noyd, Information Resources Manager at Foley & Lardner LLP
  • Erik Adams, Manager of Library Digital Initiatives Manager of Library Digital Initiatives at Sidley Austin LLP, and Chief of Technology at Golden Arrow Publishing LLC
  • Keli Whitnell, Director of Firm Intelligence at Troutman Pepper
  • Christopher O’Connor, Senior Director, Product Management at LexisNexis
APIs, or Application Programming Interfaces, have become an increasingly important tool in the legal industry. The panel included members with diverse backgrounds and perspectives, including both librarians and non-librarians. This diversity provided a holistic view of the topic, covering everything from the technical aspects of using APIs to the importance of data quality and vetting vendors.
APIs are like building blocks for legal solutions (think: LEGO Blocks), allowing for the flexible sharing of data between different computer environments. This enables more creative solutions than vendors could create on their own and has led to a range of innovative legal solutions.
Overall, the panel provided valuable insights into the use of APIs in the legal industry and highlighted their potential for facilitating more efficient and effective legal work. As the use of API’s continues to grow, it will be important for legal professionals to stay up to date on the latest developments and best practices in this area.

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Links Mentioned:
Crystal Ball Question:
Brad Blickstein discusses the potential for a recession and its effects on the legal industry. He speculates that Alternative Legal Service Providers (ALSPs) will benefit from the downturn, as law departments will be unable to increase headcount. He also discusses the question of where the work done by ALSPs will go once the recession ends and whether law firms will be able to regain the work.
Contact Us:
Twitter: @gebauerm, or @glambert Voicemail: 713-487-7821 Email: geekinreviewpodcast@gmail.com Music: Jerry David DeCicca
Transcript

Continue Reading APIs are the LEGO Building Blocks of Data – API Panel Discussion with Emily Rushing, Pam Noyd, Chris O’Connor, Keli Whitnell, and Erik Adams (TGIR Ep. 183)

This week we talk with Factor’s Ed Sohn and Michael Callier on the consulting for in-house legal teams through what they describe as New Law companies. New Law is who corporate legal counsel reach out to in order to streamline their operations and find ways of integrating themselves into the overall mission of the corporation, rather than just the department which mitigates legal and business risks. Sohn and Callier stress that New Law companies are not a threat to established law firms, but rather a partner who can help firms differentiate themselves from their peers by allowing for the consultation to clients for alternative legal strategies.
Ed Sohn on Barriers to Adoption in Law
Process adoption, or its failure oftentimes rests with people. It actually rests with social learning. it actually rests with how do you celebrate and story tell and create a culture that’s conducive to the adoption of technology and innovation. 
Michael Callier on Change Management in the Legal Industry
To be honest, it’s not that people fear change, it’s that people fear the loss associated with change. We change every day. We change clothes. We eat different things. We go to different places that we’ve never been before. So it’s not it’s not fear of change, it’s fear of the loss associated with change. And so in particular, with the legal industry.

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Information Inspirations
Jean O’Grady helps bring Thomson Reuters’ abandonment of 24/7 Research Attorney Help Desk from her Dewey B. Strategic Blog, as well as her discussion on Bob Ambrogi’s Legal Journalists Roundtable.
Mergers are hot!
Contact Us
Twitter: @gebauerm or @glambert.
Voicemail: 713-487-7270
Email: geekinreviewpodcast@gmail.com.
Music: As always, the great music you hear on the podcast is from Jerry David DeCicca.
Transcript 

Continue Reading The Geek in Review Ep. 143 – Factor’s Ed Sohn and Michael Callier on Leading through New Law

“It’s tough to make predictions, especially about the future.”
― Yogi Berra
Yet that never stops us from asking our “crystal ball” questions to our guests like Axiom’s Chief Commercial Officer, David Pierce. Some of the traits that David believes will make for successful businesses and people include:
  • Emphasis on creativity and great imaginations
  • Make it clear that everyone’s health and safety are top priorities through clear communication and transparent efforts
  • Be flexible on work environments with clear policies
  • Lay out clear business missions and objectives and make it clear what role each person plays in helping accomplish that mission
We also dive into Axiom’s mission and the role that David has played over the past few years. As well as David dropping some knowledge about Yellow Loading Zones he learned in law school.

Listen on mobile platforms:  Apple Podcasts LogoApple Podcasts |  Spotify LogoSpotify
Contact Us
Twitter: @gebauerm or @glambert.
Voicemail: 713-487-7270
Email: geekinreviewpodcast@gmail.com.
Music: As always, the great music you hear on the podcast is from Jerry David DeCicca.
Transcript

Continue Reading The Geek in Review Ep. 142 – Axiom’s David Pierce on Talent Recruitment and Flexible Working-Models Amid Shifting Industry Expectations

After 25 years at Liberty Mutual, Bob Taylor began his new adventure in legal services when he joined Deloitte’s Legal Business Services (LBS) as the Managing Director a few weeks ago. His in-house experience and desire to help create innovative and creative ways of providing legal business services make him a perfect fit to join his new colleagues, Valerie Dickerson, Legal Business Services Partner at Deloitte Tax LLP in Washington, DC, and Mark Ross, Principal at Deloitte Legal Business Services in Los Angeles.
We discuss Bob’s move over to Deloitte, along with the holistic approach LBS is taking with understanding its client’s entire business, and providing multiple services where the overall service is greater than the individual sum of its parts. We also ask each of them to look into their crystal balls and project how they see the Big Four Professional Services, like Deloitte, changing the legal environment over the next decade.

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Information Inspirations
Our friend Kristin Hodgins asked a very interesting question on Twitter about how to start a start-up when you’re not wealthy or have a partner to rely upon.
You don’t have to be a young lawyer to enjoy the insights of young lawyers. The ABA Young Lawyer Division launched its new Young Lawyer Rising Podcast this week and the first two episodes cover Civility and being a young lawyer in the era of COVID.
We all know there’s some hype around big tech, AI, and ethics. Well, MIT Tech Review gives us “50-ish words you can use to show you care without incriminating yourself.”
Listen, Subscribe, Comment
Please take the time to rate and review us on Apple Podcast. Contact us anytime by tweeting us at @gebauerm or @glambert. Or, you can call The Geek in Review hotline at 713-487-7270 and leave us a message. You can email us at geekinreviewpodcast@gmail.com. As always, the great music you hear on the podcast is from Jerry David DeCicca.
Transcript

Continue Reading The Geek in Review Ep 113 – Bob Taylor, Valerie Dickerson, and Mark Ross on Deloitte Legal Business Services

For nearly the past twenty-five years, Jeroen Plink worked on the cutting edge of innovation in the legal market ranging from creating software to help with project management and process improvement, to being the CEO of Clifford Chance Applied Solutions. His passion for looking at issues from unique perspectives, as well as his dislike for inefficient processes and waste, has led to a number of successes in legal innovation during this time. As he moves on from the Alternative Legal Service Provider environment and begins his new journey, Jeroen sits down with us to talk about his efforts going forward in Access to Justice, commercial ideas, consulting with law firms, and in-house operations.

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Information Inspirations

The idea of law firms going with a “single provider” on legal information platforms like Westlaw or Lexis may sound good on paper, but Victoria Hudgens points out in a recent LegalTech News article that these ‘one-stop shops’ limit the ingenuity and capabilities of law firms.

It takes a brave person to get between an appellate lawyer and their citation formatting rules. US Supreme Court Justice Clarence Thomas apparently is one of those brave souls. With the use of “(cleaned up)” in the recent Brownback v. King decision, Thomas has created a stir in the legal citation world the likes that haven’t been seen since the Court’s first Internet citation changes in 1996. Blue Book Rule 5.2 and Brownback are at odds and according to a Law360 article from Carrie Garrison from Porter Wright Morris & Arthur, appellate lawyers may be taking sides.

Listen, Subscribe, Comment
Please take the time to rate and review us on Apple Podcast. Contact us anytime by tweeting us at @gebauerm or @glambert. Or, you can call The Geek in Review hotline at 713-487-7270 and leave us a message. You can email us at geekinreviewpodcast@gmail.com. As always, the great music you hear on the podcast is from Jerry David DeCicca.
Transcript

Continue Reading The Geek in Review Ep. 109 – What’s Next for Jeroen Plink?