Nicole Auerbach has disrupted the legal industry not just once, but twice! She is the co-founder of two of the US’ most forward-thinking firms: Valorem Law Group and ElevateNext Law. Both firms have a clear mission – Valorem, to bring alternative fees to the market and ElevateNext to sit alongside the global law company, Elevate Services, so that customers can find everything they need in one place.
Once again – so much to talk about! We cover what it was like back in 2008 when Nicole and Patrick Lamb leapt into the unknown that was Valorem Law, alternative fee arrangements then and now, and exactly what is ElevateNext?
Nicole enjoys trying to predict the future of law and then getting there first. She and Patrick get serious kudos for not only recognising that law companies are taking a huge portion of work from law firms (predicted to be a $25 billion industry) but then also working out how to take a piece of that pie.
Here’s a summary of the things we talk about:
0:32 About Nicole
2:52 Leaping into the void that was Valorem Law Group
5:26 Drawing inspiration from no-win, no-fee to drive efficiencies
6:31 Fixed fee: an art more than a science
9:36 Alternative fees as a response to the changing market
10:32 ElevateNext – the first of its kind
11:53 The idea – how to add value to law companies
13:34 Handling the practice of law
14:50 Aligning with ElevateServices
16:14 Unbundling anything that isn’t the traditional practice of law
19:21 The moonshot
21:41 Most lawyers are oblivious to the amount or type of work being done by law companies, but clients aren’t!
24:30 Why are traditional lawyers missing this huge change
25:27 That fantastic copy on ElevateNext Law
27:49 Is there one more!?
- Check out the wonderful copy on ElevateNext Law and Valorem Law
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