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More progressive still would be funding startups that disintermediate lawyers and the billable hour system.
by thinkcomp 13y ago
More progressive still would be funding startups that disintermediate lawyers and the billable hour system.
- pg 13y agohttp://techcrunch.com/2013/03/11/yc-backed-clerky-helps-startups-save-time-and-money-on-legal-incorporation-stock-issuance-forms-and-more/ http://techcrunch.com/2013/03/11/yc-backed-clerky-helps-star...
- thinkcomp 13y agoIn my humble opinion this barely scratches the surface. But it is better than not investing, so I hope you and they do well with it. I'm personally interested in projects that flip the incentive structure for people to use lawyers for tasks of all kinds, not just startup-related ones.
- pg 13y agoAll startups start by scratching the surface. Clerky doesn't plan to limit itself to startup deal docs forever.
- nwenzel 13y agoAlternative Fee Arrangements (AFA) are becoming more popular in the insurance world. An insurer will hand over substantially all of their plain vanilla cases in a certain line of business (usually workers comp) in a specified geography to an outside counsel firm. That firm is paid a fixed fee per case, not per hour. To protect the firm, the firm is allowed to "opt-out" of some number of claims each year and bill those claims hourly. Insurers are reporting significant savings. Law firms that get the work are happy. The rest... not so much.