Flatiron Law Group

Check out the eleventh monthly Legal Tech for Transactional Lawyers Newsletter! 🚀🤘 Included in this one: 🚀🚀 A deep dive into why change is so hard in transactional practices and why it is worth it to put in the work now... 💰 Flat Rate M&A Legal Fees This is a very interesting interview with Conrad Everhard from Flatiron Law Group.  Flatiron offers a fixed fee model for M&A transactions and is challenging the traditional law firm economic model.  Some great takeaways and things to think about.  He notes that he is "not losing any sleep over big law evolving - that is an ocean liner."  Totally agree that there is a big opportunity for firms to implement alternative fee structures to find a way to pass along time savings from technology on billable work to the client.  It will be interesting to see how this space develops.  🌎The Future of Legal Work This comprehensive report from Deloitte examines the impact of AI on the future of legal work.  Although it concludes that Generative AI will have a transformative, far-reaching effect on legal departments, it points out that right now most legal teams have not started to widely incorporate tools into their workflows.  Definitely think that the external legal market will be disrupted by those embracing Generative AI to gain a competitive advantage. 🏨 AI and Commercial Real Estate Transactions Good to see this article from Sheppard Mullin considering the use cases for AI in commercial real estate transactions.  It will be interesting to see how quickly legal teams adapt AI tools into their workflows.  I think the best applications of AI are going to be the ones that augment the review of due diligence items and that aid in drafting / negotiation. Peter David Ballance Jared Wachtler James Gatto  🚀 DealTechno Acquisition Congrats to Rob Johnson 🚀 and DealTechno team on the acquisition by BriefBox!  If you are looking for top notch legal tech or other legal talent definitely reach out to Rob and team. 👴 ABA Guidance on Generative AI Tools The ABA recently issued Formal Opinion 512 to offer guidance for attorneys on the proper use of AI tools.   Of note, it points out that Gen AI tools may allow lawyers to render services more efficiently, lawyers who bill clients at hourly rate can only “bill for their actual time.” Even in flat fee or contingent arrangements, it may be “unreasonable” to charge the same fee when using the Gen AI tool than when not using it if the Gen AI tool allows the lawyer to complete the task must more quickly. This creates a major economic disincentive for adoption by lawyers on the billable model and maybe presents an opportunity to shift long term to alternative fee models. #LegalTech #Innovation #AI #TransactionalLawyers #DocumentAutomation #TransactionManagement #ALSP #ClosingProcess #KnowledgeManagement #MBA

It's almost time for our annual entrepreneur conference, 3686!⁠ ⁠ We're proud to bring back a fan-favorite, Partner Popups, which are workshops and happy hours hosted throughout the city during 3686. This year, they are all happening on Wednesday.⁠ ⁠ Don't miss the opportunity to continue learning and growing your network during our 3-day entrepreneur conference! ⁠ ⁠ This year's popups are:⁠ — Build In SE x 3686 Morning Run, hosted by Build In SE⁠ ⁠ — Idea to Exit: The Journey Ahead, hosted by Flatiron Law Group and Phase Capital ⁠ — Idea to Investible: Testing and Telling Your Startup’s Success Story, hosted by Luum Studio ⁠ ⁠ — Creative Solutions for Internal Marketing Teams, hosted by Circa Brand Agency ⁠ — Project FinTech First Look, hosted by Project Fintech⁠ ⁠ — Black Founder Meetup, hosted by Black Business Boom, Corner to Corner, Grow with Google, The Nashville Black Market, The Freeman Center and Twendé. ⁠ ⁠ — Invest in Community, hosted by the Community Foundation of Middle Tennessee ⁠ Buy your 3686 ticket before it's too late at https://attend3686.com/ ⁠ #3686Fest #LaunchTN #entrepreneur #conference #partnerpopup #nashville

We are thrilled to announce that the alpha version of the Gen AI driven M&A negotiation simulator that was developed by CodeX, The Stanford Center for Legal Informatics (with our help, among others) is now available as an open-source release on Hugging Face! Read all about it below! Congratulations to Dr. Megan Ma, the associate director of CodeX, for leading this trailblazing effort!

Flatiron is delighted to collaborate with our friends at World Financial Symposiums on this online symposium addressing the coming wave of M&A in the AI sector. World Financial Symposiums always puts on the best show in M&A! This event will be a blast. It features an all-star cast including leaders from Accenture, Akamai Technologies, Audere Capital, Fractal, Nauta Capital, Riverside Company, TEDCO, and more. If you follow Flatiron, you know we have a keen interest in the application of AI in M&A. We are collaborating with CodeX, Stanford University's legal innovation laboratory, to develop a Gen AI driven M&A negotiation simulator.   So we are particularly excited to be part of this event! Please join us Thursday, July 18, 10AM – 2PM PST / 1-5PM EST Online via GoTo Webinar Register at no cost as Flatiron’s guest https://bit.ly/3VI85LM To see the agenda: Growth & Exit Strategies: The AI Shockwave | Jul 18, 2024 https://bit.ly/45O7nRQ