Legal startup LawPath partners with global law firm Norton Rose Fulbright
Australian legal startup LawPath, which gives customers access to hundreds of standardised legal documents and free legal quotes, has partnered with global law firm Norton Rose Partners to offer startups and small businesses fixed-price packages through its online platform.
The partnership has seen the creation of standardised document packages covering areas such as investment, including capital raisings and shareholder agreements, convertible notes, and employment packages, providing permanent and contract employment agreements.
The purchase of a package also includes prep-paid hours with a senior lawyer – that is, a lawyer with at least five years’ experience – from Norton Rose Fulbright to review and tailor the documents. An investment package costs $2,099, while an employment package will set customers back $1,000, giving them access to the documents and two hours with a senior lawyer.
Wayne Spanner, managing partner of Norton Rose Fulbright in Australia, said combining the firm’s legal skills with LawPath’s technology will give “innovators” easy access to top quality legal advice at an affordable price.
“The alliance also demonstrates Norton Rose Fulbright’s desire to both collaborate with the startup sector and also to continually look at better, more efficient ways of doing business,” he said.
“By forging ties with LawPath’s rapidly growing client base, and having greater opportunity to work with innovative clients, we also expect our lawyers to benefit from being more involved in the innovation economy.”
Damien Andreasen, cofounder and CEO of LawPath, said the collaboration represents a “big shift” for Australia’s legal industry, with LawPath’s platform becoming an online distribution channel for the larger firm.
“There is no longer any doubt that technology will change the way legal services are provided. The big question is how new and established players in the industry will respond, including who can best collaborate to provide customer-centric legal solutions,” he said.
Norton Rose Fulbright is just the latest traditional law firm to catch onto this idea. Australian firm Allens launched Accelerate, a service providing documentation to startups, last year, while Gilbert + Tobin last November made a strategic investment into LegalVision, one of LawPath’s main competitors.
While the LawPath partnership aims to help Norton Rose Fulbright better access the startup and SME market, Lachlan McKnight, CEO of LegalVision, said that through its own partnership with Gilbert + Tobin it would look to dip its toe into the corporate space.
The partnership follows a capital raise of $1.3 million by LawPath last October, which the startup stated at the time would go towards building out its platform and pursuing partnerships.
LawPath states it has helped over 20,000 customers since its 2013 launch, counting startups including Qwilr and Mon Purse and coworking community Tank Stream Labs among its client base. Its revenue is up 800 percent and user base up 400 percent compared to 12 months ago.
Image: Damien Andreasen of LawPath.