Asking Axiom: The new LinkedIn for Lawyers?
February 18, 2020
1 min read
What's going on here?
Flexible lawyer service Axiom has created a LinkedIn-style legal talent platform, following a significant cash injection from private equity firm Permira.
What does this mean?
Axiom currently houses a database of approximately 2,000 lawyers. This initiative will allow the company to improve the management of its growing legal base and aid international expansion.
The platform, called “Axiom for Talent”, allows the business to effectively manage lawyers who are part of its roster and further improve its matchmaking process. Similar to LinkedIn, the platform provides an in-depth insight into factors such as experience, working preferences and availability. By factoring in a wide range of criteria, the company hopes to better analyse which lawyer is best suited for particular client engagements.
What's the big picture effect?
The market for alternative legal providers is continually expanding. Axiom and its competitors have been quick to respond to modern demands of efficiency and cost-effectiveness in legal services.
On these platforms, lawyers can provide their services at a lower cost, due to lower overheads, resulting in reduced fees. For many clients, this provides an alternative to working with the same law firm on retainer for all matters. Similarly, lawyers on platforms like Axiom are able to work on their own terms and provide their expertise to a wider range of clients on different matters. The impact on law firms is that senior lawyers now have an alternative to pursuing partnership and can instead offer their services through an on-demand provider. In response, firms are developing initiatives to stay ahead in the changing legal market, such as Lawyers on Demand, created by Berwin Leighton Paisner LLP.
Report written by Laila Khan
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