InCloudCounsel, a U.S. company that provides corporations and law firms with freelance attorneys to handle routine legal work, is today announcing its expansion into Europe with the opening of an office in London to serve the UK and European legal markets.
Leading the office and the company’s expansion there is Bridget K. Deiters, a London-based managing director at InCloudCounsel. Deiters formerly practiced corporate/capital markets law at the law firms Kirkland & Ellis in London and Chicago and Cravath in New York.
InCloudCounsel’s business model is to provide its customers with highly experienced freelance attorneys using a flat-fee, per-document pricing structure. Its proprietary technology allows customers to track the status of their work in real time and obtain data about trends in terms, contract volume, and contractual counterparties.
The UK was the world’s second-largest legal market in 2016, accounting for about $45 billion or 7 percent of the global market, followed by Germany as the third-largest market, accounting for about $25 billion or 4 percent of the global market.
“We’re excited to be opening in London,” Deiters told me during a phone interview last week. “This is a major step forward towards reaching our ultimate goal of being a global player.”
The London office will serve as a launchpad for InCloudCounsel to expand into the European market more broadly, Deiters said. The goal is to have a pool of attorneys who can service agreements in all the major capitals and languages of Europe.
The company’s opening in London was also driven by demand from its existing U.S. clients, many of which have offices in the UK, Deiters said. In fact, before even adding a new UK client, existing clients will provide enough work to make the London office a viable operation, she said.
With today’s announcement, InCloudCounsel will begin major campaigns to
