This week was back to reality week for me. Back from the fun, sizzle and excitement of CES (fka the Consumer Electronics Show). Back from sunny Las Vegas with all its glitz and glamour. I always come back from this event charged up and optimistic about what is possible in tech and the legal profession.
But January in Louisville is gloomy and damp. And after reading several recent posts and articles, my optimism about the status of change and innovation in the legal market has also darkened. I wonder, again, whether the legal profession will ever really change and what it will take for change to occur.
First, earlier this week came the announcement that Atrium was ending the legal practice part of its business to focus on software advice. Atrium was created as two businesses. One was a law firm that would offer services on a transparent, fixed-fee, subscription basis. A separate business handled all the business processes for the firm and built software to streamline the firm’s operations.
The practice side was to be everything traditional law practice was not. A focus on alternative fees. Use of technology, automation, and innovation to supply a better product to clients. A better and more wholesome lifestyle for its lawyers.
While the precise reasons are a little murky, one can’t help but wonder that it’s because the innovative practice simply wasn’t as profitable as it was hoped.
But after receiving some $65 million in investment funding in 2018, Atrium announced it was terminating its law practice arm and laying off its lawyers. Atrium now plans to focus on serving the business needs of startups. While the precise reasons are a little murky, one can’t help but wonder that it’s because the innovative practice simply wasn’t as profitable as