Five senior City lawyers have launched an outsourcing and technology boutique today, which pledges to axe the billable hour.
Clerkenwell-based radiant.law has been formed by a team that includes Andrew Giverin, who last month became the latest in a string of partners to resign from BLG (1 December 2010).
Giverin, and the other shareholders in the business, argue that theirs is the first outfit to take legal commentator Richard Susskind’s views on the future of the legal profession seriously by combining process-driven work and use of new technologies with oversight from senior lawyers and getting rid of the billable hour in favour of fixed fees.
Radiant.law shareholder Alex Hamilton, who has joined from Giverin’s former firm Latham & Watkins, told The Lawyer: “Clients need good value and pricing certainty and fixed fees and variants of that offer better certainty than the billable hour.
“We’re trying to provide the expertise of senior lawyers who can cut to the chase with the more factory-like approach to doing the more mundane aspects,” he added.
The firm will send less complex work offshore to LPO provider Pangea3 and does not intend to hire any junior lawyers.
The other shareholders to join the business are Morrison & Foerster partner David Skinner, senior Deutsche Bank lawyer Mark Millward and BLG senior associate Jason McQuillen.