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Roundup of Company and Product News from ILTACON, Part 1

PartnerVine

PartnerVine is essentially a marketplace for law firms to sell their legal documents. The focus is on larger firms selling sophisticated legal documents to corporate counsel and smaller firms. It currently operates in beta only in Switzerland, where its biggest suppliers of documents are PricewaterhouseCoopers AG and Meyerlustenberger Lachenal Ltd., but it is seeking supplier deals with U.S. and UK firms that will allow it to expand to those countries.

Users can search or browse for documents. Each document page identifies the source of the document and the price of the document. An author's note describes the document in detail. Some documents are sold individually, others as packages with all the documents needed for a particular transaction (for example, a bulk transfer of assets). Law firms set their own prices for documents and PartnerVine takes a percentage of each sale. Forms can be completed by following questionnaires on the platform, and for multiple-form packages, information need be entered only once.

For corporate counsel, the selling point is that they get quality legal documents created by reputable law firms without having to retain outside counsel. If, after reviewing documents purchased through PartnerVine, the customer wants further legal advice, PartnerVine connects the customer to the firm that created the document for a quote.

For the supplier firms, they essentially generate passive income from forms they’ve already created, and they have the potential to establish new client relationships with customers who buy their forms and seek further legal advice.

[For the complete article, click here.]

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