This week, Priori welcomed legal technology providers, law companies and other “New Law” solutions to our global legal marketplace for the first time. The press release on the launch is available here, and we've also got more details on our website.
But I also wanted to share why I’m so excited about this development, for Priori, our partners and for the greater legal ecosystem.
When Priori first launched in 2013, legal departments and law firms alike were incredulous that in-house teams (and particularly in-house teams at some of the largest companies) would make outside counsel hiring decisions using an online marketplace. What a sea change there’s been since.
We’re now excited for the next stage in the industry’s evolution. At Priori, we’ve seen firsthand that our clients aren’t wedded to one legal services model. In-house counsel don’t go in search of a law firm or legal technology provider—they simply go in search of solutions to their legal challenges. Sometimes a law firm is the right choice, sometimes a group of individual attorneys, sometimes a technology company, sometimes an alternative services provider, and sometimes it is a combination of all the above.
That’s why Priori has expanded our marketplace to include some of the industry’s most innovative legal technology providers and legal services companies. Priori clients can now access a range of new law options on our platform, from legal managed services to legal operations to AI-powered contract review and negotiation.
Priori’s mission is to use data and technology to create the world’s first transparent market for legal services. Adding new types of service providers to our platform is an important step in creating transparency for our clients and driving the legal industry toward a true “right-solution” model. With the addition of innovative legal tech and law companies, Priori’s platform will now serve as an even more important connector among the legal ecosystem’s key players.
How will it work?
Clients will use our same structured RFP process to submit requests and will have a unique opportunity to compare traditional versus new legal solutions.
What are the benefits to clients?
We anticipate Priori’s clients will benefit from this development in a number of ways.
In-house legal departments who already use Priori will be able to seamlessly access our innovative partner companies’ services. We also anticipate our clients may be introduced to legal service models they hadn’t yet explored and will discover new efficiencies by accessing our platform partners.
This change will also allow our clients the rare opportunity to evaluate tech and new legal services alongside traditional providers. While the legal industry has rapidly diversified, there has not been a cohesive marketplace for comparison among myriad legal services options. Priori is pioneering this transparent marketplace for modern legal services.
What are the benefits for law/tech companies?
For law companies and legal service providers, onboarding to our platform also offers numerous benefits.
Priori’s clients are Fortune 500 and high-growth enterprises. Companies onboarding to our platform will have access to incredible potential clients, some of whom have worked with Priori’s network law firms but who may be less familiar with new legal service types.
Our structured proposal process collects key information about client projects, enabling law/tech companies to showcase problem-solution fit and highlight value versus traditional legal providers.
In addition, legal tech and new law companies can join existing Priori clients' rosters seamlessly by reaching clients through our platform, without a need for clients to onboard an entirely new vendor.
What does the future look like?
Priori will continue to vet and onboard the best of legal technology and legal services providers to our platform. Interested companies can apply to join our network here.
More broadly, all indications suggest growing demand for innovation and transparency in the legal industry. Clients will continue to respond to cost pressures by seeking new types of legal services. Priori has long been a platform for in-house legal departments to find high quality legal work. We will continue to drive the legal industry forward by offering our clients access to the most innovative providers in the market.