As Weil Faces the End, A New Mod Is Born

While one of Big Law’s most respected brand names – Weil Gotshal – collapses, a new model firm is born – Dexterity Law, led by Thomas Romer, a deal lawyer with more than 25 years’ experience at Greenberg Traurig, BakerHostetler and other firms. He’s also vice chair of the ABA M&A Technology Subcommittee. The universe clearly has a sense of timing….!

Like other new model law firms it’s ‘AI-empowered’ and offers flat fees. However, this freshly minted M&A firm is not focused on mega-deals, but rather will focus on the ‘$2 million to $20 million enterprise value bracket’

The new firm said: ‘Dexterity Law capitalizes on the scale and promise of AI while avoiding the hype and keeping legal judgment where it belongs: with the lawyers. Accomplished M&A lawyers will deliver sophisticated, affordable representation to small and middle market businesses growing through acquisitions or selling to private equity and other large buyers.’

They added that they have a ‘business model that passes AI and tech-enabled cost efficiencies directly to clients and offers an alternative to Big Law hourly billing rates’.

And they stressed that their ‘tech stack is intentionally designed to optimize efficiency in every stage of an M&A transaction, from the initial LOI and NDA, to due diligence, to negotiation and close’

Romer commented: ‘Our mission is to deliver high-quality, high-velocity M&A work at outcomes-based pricing that is better aligned with client goals and budgets.

‘This levels the playing field for sellers in the $2 million to $20 million enterprise value bracket, who previously were often priced out of top-caliber representation under a more traditional model. Buyers benefit too, reducing the costs associated with acquisitions without sacrificing the quality they have come to expect.’

Is this a big deal?

Well, as said in the previous story, AI didn’t cause the end of Weil – the desire of top partners to move to firms that made even more money was the real cause. But, there is perhaps something poetic here….!

More here.

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Plus ! Legal Innovators UK is in 1 week on Nov 4 and 5 at the Minster Building near the Tower of London, and then Legal Innovators New York is on Nov 17 and 18 in Midtown at a great new venue – Quorum by Convene. Looking forward to chairing both. Going to be lots to explore together, that’s for sure!

Here are the express ticket registrations so you can get your complimentary passes super-fast.

To pick up your UK tickets, please follow the link below. Complimentary passes are for those working inside law firms and within corporate legal teams.