Source: Financial Times
“It has never been possible to collect the data before now, about what legal matters ‘should’ cost,” says Jim Delkousis, founder and chief executive of Persuit, a legal technology business. Persuit assists companies in sourcing and comparing proposals for the work they want done by external legal services — and its clients include the US retailer Walmart and the Swiss drugmaker Novartis.
Comparison websites have long been helpful in finding, say, a reliable plumber or a good cup of coffee. But the equivalent for identifying the lawyer best suited to a piece of work at the most competitive price has proved elusive, with legal fees varying hugely.
Many in-house legal teams still fall back on the lawyers or law firms they already know, rather than making use of data to assess which would be best, whether on price or on other considerations. However, new services are attempting to achieve a more objective assessment — by using, and searching, data.
Read the full article: https://www.ft.com/content/fb036ea5-36fb-4411-b23c-ba0cdca0a531
