Many of us in the United States are hitting the road/airport this weekend to get in the last bit of Summer. For Texans like me, we’ll still have some hot weather for the next few weeks, but eventually it will cool down and remind us that Mid-September through Mid-May is really why we put up
Perhaps one of the things that we don’t think about when we are at conferences like ILTACon, is the amount of emails we get post-conference. Most of mine this week start with “sorry we didn’t connect at ILTACon, but here’s your opportunity to talk with me about the product you ignored and are probably regretting
Getting home last night (actually early this morning) from #ILTACON24, I had a chance to finally catch my breath. I flew into Nashville early on Monday to catch the keynote, Hannah Fry explain that the single most human word that differentiates us from the machines is “POOP.” This made the 13-year-old boy in me very
If you’re like me, your in-box (and SPAM filter) were packed with ILTA messages to come visit vendors at booth #XXX. It is amazing how many vendors and legal tech folks who are going to be there and vying for your attention next week. I have to say that my calendar is packed, and that’s
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:
Apple Podcasts | Spotify | YouTube
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
This was one of those weeks where I had to decide whether to scroll through a few hundred/thousand emails, or just declare email bankruptcy after spending the previous week in Chicago at the AALL Conference. I won’t say exactly what I did… but, I will say it was the faster of the two decisions. ILTACon
I just flew back from Chicago… and boy are my arms tired. 😉
Besides getting to wear my flashy new white suit for the American Association of Law Libraries (AALL) Gallagher Awards ceremony, I also caught up with lots of colleagues, old and new. AALL is one of those sneaky tech conferences that dresses up
It’s been a bit of a crazy week around here. Power is back on in (most of) Houston, and I’m headed to Chicago for the American Association of Law Libraries Annual Conference. Hopefully, the massive Internet outage that’s happening with CrowdStrike and Microsoft 365 won’t have me hanging out at the airport bar all day.
Starting in January of 2023, I started a project that compiles summaries for legal tech and innovation articles and creates a daily automated podcast. The AI Lawyer Talking Tech podcast has been a lot of fun, and gets a few hundred listens each week. That’s not too bad for something that I really created as
In the fourth round of interviews of “The Geek in Review” podcast’s mini-series “Love & Legal Tech,” hosts Greg Lambert and Marlene Gebauer chat with Chris Ford and Nikki Shaver, the dynamic couple behind the Legal Technology Hub. Their project, conceived out of necessity and frustration with the lack of a single source of truth for legal technology solutions, has grown into a thriving business that categorizes and reviews over 2000 legal tech products, aiding law firms and corporate legal departments in navigating the vast landscape of available technologies.
Their story begins in Australia, where Chris and Nikki first connected through a dating site, a testament to their adventurous spirits and willingness to embrace new technologies, even in their personal lives. This spirit of innovation and exploration carried over into their professional lives when they decided to tackle the challenge of creating a centralized platform for legal technology solutions during the pandemic. Their complementary skills in marketing, legal tech, and innovation have been crucial to their success, demonstrating the power of collaboration and mutual respect in both business and personal relationships.
Working together presents its challenges, notably in balancing professional demands with family life, as they navigate attending the same industry events while ensuring the wellbeing of their two children. Yet, it’s clear that their partnership strengthens both their business and their relationship, as they share a common goal and a deep understanding of each other’s strengths.
Chris and Nikki’s journey is a shining example for other couples in the legal tech industry, emphasizing the importance of shared vision, respect for each other’s expertise, and the willingness to support one another’s ideas, no matter how ambitious. Their advice for other couples looking to work together in the industry is to focus on their common goals and leverage their unique strengths, ensuring that their partnership is both professionally rewarding and personally fulfilling.
Their dedication to innovation, coupled with their strong relationship, showcases the potential for couples to make significant contributions to the legal tech industry while building a life together.
Listen on mobile platforms: Apple Podcasts | Spotify | YouTube
Contact Us:
Twitter: @gebauerm, or @glambert
Threads: @glambertpod or @gebauerm66
Email: geekinreviewpodcast@gmail.com
Music: Jerry David DeCicca and Eve Searls
Transcript
Continue Reading Love and Legal Tech: Nikki Shaver and Chris Ford of Legal Technology Hub