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Technology boutique iLaw Legal Services is aiming to attract associates by offering to pay them more than half of their billings.
The IP/IT boutique, was launched in September by three partners from Osborne Clarke and DMH Stallard and is now looking to bulk up with associates.
iLaw partner Justin Ellis commented on the unique billing concept: “It seems like the best way of attracting the most experienced lawyers from City firms or even from in-house, who are frustrated at only receiving a third or a quarter of what they bill.”
iLaw, which targets both blue-chip and smaller technology clients, was set up as a limited company rather than as a traditional law firm and is based on the premise that it will undercut the hourly rates of City firms.