PROBLEM THAT WE SOLVE

Legal price setting is obscure

Price setting in the premium segment of the global legal market is obscure. Law firms are reluctant to say goodbye to hourly rates, legal tenders involving market-leading firms are mostly exercises of who names the lowest figure with the most restrictive set of assumptions (allowing to overbill).

Same lawyer's quote may vary several-fold

One and the same lawyer’s hourly rate and price quote may differ several-fold depending on whether the lawyer still works at his big-name law firm or have left to found his own boutique. Or, for example, he or she can still be with the old firm but it decides to undercut the market by halving its prices for strategic purposes.

Clients overpay as a result

The result is that a client may pay the price which differs exponentially for one and the same service rendered by one and the same lawyer.

HOW WE SOLVE IT

Focus on lawyer's background

We strongly believe that people and their knowledge are the most valuable assets in the legal market. And we focus on the background and specialization of lawyers (and not only on the brand they represent to pitch the services) in matching them with a client’s request.

Criteria that we use

  • Fixed-fee quotes only
  • Should be on the lower end of the market or below market.
  • Professional background of the quoting lawyer.
  • Specific industry expertise (for example, aviation finance background would be preferred over general corporate for an aviation finance request).
  • Assumptions (the looser for the price the better).

We work with mainstream firms and boutiques and use industry rankings. We do not position ourselves as a freelance platform.

Our network comprises the top international and regional law firms, boutiques and individual practitioners. For our rating purposes we use Chambers and Legal 500 and our own proprietary techniques.

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More on Lexircle

We are the Singapore-based legal technology platform founded by the ex BigLaw lawyers.

Basically, we believe that 80% of business clients globally can afford elite level legal services.  The main problem is the inefficiency of the price discovery in the legal market.  Practically this means that one and the same lawyer can quote the fee which differs several-fold for the same services depending on the client, the business circumstances and the brand he or she represents.

We are building a solution which uses the modern edge technologies to make a painstaking process of requesting for proposals a pleasant walk in the park for our clients.