Innovation Nation
Innovation Nation
  Emel Hussein
Founder, iSolicitor
http://www.isolicitor.co.uk/
    Background
      Interview in 1998
      People on the phones
      Started training contract
      Case Workers on the phone to Legal Services Commission
      Said she was not going to do Legal Aid
    Unbundled
      Simple pricing
      Can do Skype calls if need be
      Risks are :-
        Professional negligence
          Full risk policy in place
          Never provide unbundled legal service if there is "incapacity" of the
person to understand as they are "litigants in person"
        Avoid a full retainer
          Don't go on court record as the "solicitor"
          All docs are returned to the client
          Do not instruct others on behalf of the client
    Rewards
      Profitable
      Reaching clients not reached by other firms
      Cash paid straight in to the office account
  Robert Postlethwaite
Postlethwaite
(Employee Owned Law Firm)
    Background
      Founded in 2003
      Advise on employee share schemes
      Clients are companies, accountancy firms, law firms
      Chambers & Legal 500 ranked
      Four lawyers + 1 support staff
      Serviced offices in Covent Garden
    Status
      Until April 2013 was sole practitioner
      Long overdue for a change
      All team are "responsible" for BD & quality
      Everyone is a "value creator"
    Things to consider
      They have a stable workforce
      People happy with flexible remuneration
      Didn't want staff to forfeit "employed" status
    Process
      Wanted to turn the SP into a Ltd Co.
      SRA approval took forever!
      Individual share ownership
      Two shareholders now
        Robert = 85%
        David Reuben = 15%
      By Jan 2014 want all staff to have shares + share option plan (tax efficient)
    What does it mean for staff
      Profit share via dividents
      Modest capital growth
      A stronger team
    Future issues
      Will want new employees to become owners
      12 month probation
      Leavers will have to sell their shares
      Involve the non-lawyers
  Jonathan Whittaker
Senior Partner
SAS Daniels LLP
    Background
      140 staff now
      £6.5m turnover
      4 offices
    Stories
      Value & speed e.g. train ticket prices
      Let everyone else have fixed fees, I'll make more money
    Training
      Had a trainer come in
      45 people were trained over 4 days
      External sales trainer
      People are now "better"
    Pricing
      Uses Richard Burcher @Validatum
      Did not want to mention it
      Every two weeks they do "training" on pricing where
they discuss jobs that Solicitors are not happy about pricing
  Alex Mills
Dynamo Legal
    Background
      Ex-reality TV
      Entrepreneur
      Subtopic 3
    Fees
      3, 6 or 12 month packages
      Something to make it simple for firms to get in
      400 law firms @ £2,000/month = minimal budget each
      He thinks they spend £1,000 each and collectively £400,000 centrally
    Words
      Not the early bird that catches the worm, but
      "The second mouse gets the cheese from the mousetrap"
    Looking for 500 firms for start of 2014
    Insurance part of Dynamo group is doing better than legal