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There's probably a billion+ dollar market for this, especially if you can GUI-fy it enough. My guess is a good test group would be paralegals. If they can "clic
by kriro 10y ago
There's probably a billion+ dollar market for this, especially if you can GUI-fy it enough. My guess is a good test group would be paralegals. If they can "click together" contracts with up to date modules you're probably on the right track.
Super long term it could also be interesting if you could provide a fill in the blanks mask for clients that generates your contracts (a simple workflow where they fill in some details like names, corp, state etc. and a "what do you want")
- nihonde 10y agoThis exists and has existed in various forms for a long while. It's not a billion dollar idea. Business people prefer to pay lawyers hourly for peace of mind, despite lawyers having almost no accountability. Lawyers prefer to cobble documents together in Word because if they bill 8 hours a day at market rates, they're clearing at least $750K p.a. If lawyers want more money, they employ a standard labor pyramid, delegate workload, and raise their rates. I'm not saying it's right, or good, but that's the reality.
- rosegold 10y agoAgree with much of the above with some exceptions: secretaries create documents for partners and senior level associates. There is usually a bank of standard provisions that the secretary pulls from. Partner A says pull the standard template plus x and Y provisions. Secretary prepares and Partner reviews. On the billing, you may see preparation charged at the secretary's hourly rate with review at the partner's rate. Lawyer's have plenty of accountability from their clients. Corporate clients hire outside firms to review billings. Each year corporations review their outside counsel and decide if they want to find new counsel. Big Corp invites big law firm X, Y and Z in for a "dog and pony show". Competition between law firms is fierce.