More About "Law Clerk Connection, LLC"
Law Clerk Connection is the first freelance marketplace dedicated exclusively to the legal community. While there are other freelance marketplaces in existence, there are currently no companies serving this niche exclusively. Our target market is composed of current law students, recent graduates and lawyers, who are able to connect in the marketplace in order to complete legal projects at a fraction of the cost of having the work done by associates and partners in-house.
Why should you invest in Law Clerk Connection? Three Reasons:
Profits: Law Clerk Connection is a new and unique part of a billion dollar legal process outsourcing industry, which is expected to grow to $480 billion by 2015.
Pressure: Clients are increasingly pressuring law firms and legal services providers to reduce costs. Law Clerk Connection providers reduce costs with fees that are a fraction of the cost compared to having the work done in-house.
Position: Law Clerk Connection is the first and only freelance marketplace for lawyers and legal service providers bound by the legal and ethical standards set down by the American Bar Association.
Mark Chandler, the General Counsel of Cisco Systems, describes the traditional law firm model as ‚Äúthe last vestige of the medieval guild system.‚ÄĚ People like Mr. Chandler are looking for a more efficient legal industry to combat the growing costs of legal services.
In response, many firms are turning to offshore providers of legal process outsourcing for a range of activities, from litigation support to legal research. In a recent study published by Evaluserve, the revenue generated by the LPO industry is likely to grow from $270 billion in 2005 to $360 billion by 2010 and to $480 billion by 2015.
However, there are several complicating factors that arise with legal process offshoring:
1.Training differences between foreign and American law schools and styles of English can present complications and at times an expensive learning curve.
2. Offshoring can be a highly sensitive and risky political issue that many law firms and corporations are concerned may led to negative publicity. In fact, of the many Fortune 500 companies such as Bayer, General Electric, Oracle, Cisco and Microsoft who do utilize offshoring, few are willing to speak candidly about the fact.
3. Finally, the overwhelming reasons cited for resistance to offshoring are ethical considerations and liability concerns.
Law Clerk Connection offers an attractive alternative to offshoring, by providing lawyers with a quality nationwide network of law students, trained in American law, and bound by the ethical standards set down by the American Bar Association, as well as legal tools and resources for all members. Additionally, all members are screened to ensure that they are either lawyers licensed to practice in a particular jurisdiction or are current law students or graduates. Since all providers are U.S. law students or graduates, the political implications of using Law Clerk Connection are more favorable to companies and law firms than using offshore providers. All data remains confidential, housed on secure servers within the United States, accessible only to the lawyers and providers working on a particular project.
Revenues include membership fees, project fees of 15-20% and select advertising accounts. The website and marketplace is up and running as of March 9, 2009. We are in the process of recruiting student ambassadors to drive students to the site, and are marketing to law firms across the country. We are seeking $400,000 in funding to get to the point where the company is self-sustaining, in exchange for 25% of annual net profits, capped at a 25% rate of return on investment.
Our management team includes myself, a juris doctor with years of experience in the legal field, and Sherry Kinnison, who brings a successful entrepreneurial background including over a decade of staffing agency management and business consulting experience. Coupled with the marketing and business analytical skills she possesses, we have a powerful leadership team in place. We strongly believe in to whom much is given, much is expected and have programs in place to pay it forward.