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Company | The Lawyer Market | ||
|---|---|---|---|---|
| http://www.thelawyermarket.com | ||||
| Founded: | 03/19/2010 | |||
| City: | Chicago, Illinois | |||
| Country: | United States | |||
| CEO: | Richard Komaiko | |||
| Founders: | Jian Yang, Richard Komaiko, Beibei Que, Stephen Kloder | |||
| Category: | Other | Funding: | Self-Funded | |
| Tags: | law, marketing, marketplace | Employees: | 2-5 | |
What does The Lawyer Market do?
The Lawyer Market is the first competitive market place for legal services. Our website utilizes the internet to make the process of finding lawyers faster, easier, and cheaper. Our service is designed to allow clients and lawyers to quickly establish a common ground by teasing out the basic facts of a legal need with a patent-pending questionnaire tailored to various legal areas. Once someone has filled out this questionnaire, lawyers are notified of a potential case and free to submit price quotes and ask follow-up questions. People are then welcome to negotiate further with any lawyers and ultimately chose the one that fits their needs – be it experience, cost, prior feedback or some combination thereof. Best of all, our service is completely free to users who are seeking lawyers. Yet, the lawyers also have something to gain, because we limit the time they must search for clients while minimizing the costs.
How are they different?
Currently, no marketplace exists for legal services. While sites do exist that allow everyday people to find lawyers online, they do not provide price quotes, limit their lawyer membership, and charge lawyers membership and sign-up fees that unnecessarily increase and therefore distort prices. Using our process, information (for both lawyers and clients) is provided faster, easier, and cheaper, revolutionizing the entire process of finding an attorney.
Why could The Lawyer Market be BIG?
The American legal industry is one of the biggest sectors of the economy and still increasing, with over $20 billion in revenues and upwards of 1.2 million lawyers. Yet, as the economy continues to slump, new trends are taking hold in the legal industry, as more lawyers and law students are forced away from corporate law into solo and small practice firms. These lawyers constitute 67% of the American legal industry, but there’s no marketplace for their services. Once one is established, imagine the possibilities and access it would provide to Americans needing legal help but don’t know where to look, how much to pay, or who to hire. We envision impacting the lawyer market the same way ebay and amazon changed the way we purchase online.
How they plan to make money:
While we are in beta mode, we charge lawyers a small fee of 29.99 when a client wishes to follow up with their price quote. This is a relatively insignificant fee compared to the myriad (and high) prices of other services that exist, without any of the risks. Hence, we expect to monetize through volume once our marketplace is well recognized.
Our thoughts:
No thoughts at the moment. Very interesting!
Please visit their website to learn more: http://www.thelawyermarket.com
