transforming
the practice
of law
The concept of a legal support organization may be new to most firms practicing across the United States and Canada, but the support network model has been proven successful in many other industries and countries.
What is a legal support organization?
A concept whose time has come
For years now, support organizations have provided well-established benefits to a range of professional industries. In fields like veterinary care, orthopedics, dentistry, and more, practitioners have found that by sharing services and business practices across a network of partners, they can dramatically simplify their daily operations, provide greater care to those they serve, generate immediate returns for the businesses they've built, and grow considerable, long-term value for their continued participation.
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Not so for the legal industry. Until now.
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Support, service, and success
Litco LSO is a first-of-its-kind legal support organization, uniquely developed to allow equity participation by lawyers, team members, investors, and finance sources across North America. We unite our partners in a cohesive network that's supported by a centralized service platform. From this platform, each practice receives proven, best-in-class support to streamline and enhance a full suite of essential business functions: operations, people and culture, accounting and finance, technology, marketing, administration and more. The results are designed to be truly transformative.
CHANGE IS COMING TO THE LEGAL
.iNDUSTRY. WILL YOU BE READY?
Good things come to those who act
Deregulation of legal services has arrived in North America, and it’s an accelerating trend. With the approval of Alternative Business Structures (ABS) in Arizona that allow for ownership in law firms and fee splitting with non-lawyers, the legal industry has been set on a new path. But what will it bring?
Lessons from overseas
At Litco LSO, we’ve been preparing for deregulation for over a decade. We carefully studied and learned from what happened in the United Kingdom and Australia and designed ourselves carefully to thrive in the new reality. The good news is that many of lawyers’ worst fears were not realized in those countries under deregulation – lawyers are still an essential part of the legal system, and they enjoy practice independence and financial success.
The reality of deregulation is that consumer-facing practices are likely to be first to consolidate, that is, to buy or be bought. Firms that don’t consolidate run the risk of being crushed by competitors with deeper pockets. We’ve already seen vast sums of money flooding the Arizona market from marketers, litigation financiers, venture capital firms, and private equity firms. Many will make the same mistakes made by those in the UK and Australia, buying too much too quickly, and focusing too much on marketing and not enough on service.
Why join? All the reasons in the world
Start with lawyers
At Litco LSO, we believe the right people to lead the transformation of the legal industry aren’t marketers or financiers, but lawyers. We know what it means to be a lawyer, the effort you put in to learn your craft, and the responsibility to society and the system that we all bear. It’s in the best interests of clients, the public, and those in the industry that the legal system maintains its essential integrity during this period of change. That’s why we're built to support lawyers and enable them to do their best legal work, free from interference.
Keep your edge
In a deregulated legal industry, many well-funded new players will try to enter your market and take your share. To remain competitive, law firms will have to run more like businesses than ever, paying close attention to costs and using data to drive decisions. We can help you run your firm that way, giving you the tools, technology, and team to stay on top. At Litco LSO, you can be part of something bigger and tap into the power of our network without giving up the soul of your practice.
Why join Litco LSO?
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Surround yourself with like-minded, entrepreneurial lawyers
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Significantly enhance your financial opportunity
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Access a deep bench of professionals to support your local growth and help your existing team
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Have the freedom to focus on what you’re passionate about
