Technically Legal - A Legal Technology and Innovation Podcast Beyond Billable Hours: Flatiron's Conrad Everhard on a Fixed-Fee and Tech Based Approach to M&A
Nov 20, 2024
Conrad Everhart, founder of Flatiron Law Group, shares his journey from Georgetown grad to partner at major law firms like Jones Day. He left BigLaw to offer a cost-effective, tech-driven model for M&A services. The firm utilizes flat fees, low overhead, and custom software like Deal Driver to enhance client insights. Conrad also discusses his work with Stanford’s Codex project, where he's developing an AI negotiation simulator to train future lawyers, emphasizing the crucial blend of AI and human judgment in legal negotiations.
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Big Law's Revenue Focus
- Big Law values lawyers primarily as revenue generators, especially senior ones.
- This focus creates an opportunity for alternative models like Flatiron.
Frustration with Big Law
- Conrad's frustration with Big Law stemmed from its demanding nature and perceived inequities.
- He felt the model was inefficient and ripe for disruption through technology.
Flatiron's Name
- Flatiron Law Group chose its name to evoke the startup and tech community of New York's Flatiron district.
- This branding reflects their modern and innovative approach.