Virtual law firm closes down
US-based online law firm Clearspire has closed down just over a year after making ambitious projections to grow by 100 lawyers annually.
The plan had been to keep fees down by introducing former BigLaw lawyers to each other by the net, allowing them to help each other through their client and office networks. But, instead of growing, the practice had a team of just 25 lawyers working for it when it closed. The technology structure of Clearspire, valued at US$5m, will be used by investors led by Eyal Iffergan, the developer of the technology.
The Clearspire site now has the message: ‘We’re taking Clearspire to the next level with a mission to empower not a law firm but all law firms. We are actively working to ready our class-leading Legal Services Delivery Platform for you! Stay tuned to these pages in the coming weeks and months for updates on our global deployment of The Next Revolution!’ Source: ABA