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Bodhala CEO Raj Goyle Speaks with Rhys Dipshan of LegalTech News


Raj Goyle recently spoke with LegalTech News about data and AI in the shifting legal sphere. Attorneys have turned to artificial intelligence to reduce costs in tasks like e-discovery, contracts and due diligence. But more recently, AI has been getting to the heart of the matter, fueling legal spend analytics platforms that help law firms and legal departments better understand and change their spend habits. [...]

Bodhala CEO Raj Goyle Sits Down With Above The Law


Joe Borstein recently interviewed Raj Goyle at Above the Law about Bodhala and the evolving legal space.  Here is an excerpt: A complete lack of data hurts the legal profession and the market. Bodhala has used data in innovative ways –saving a client $1.2M per year by allocating its spend more efficiently, helping a major [...]

“It’s The Firms’ Fault”: GCs, You Can No Longer Rely on This Excuse For The Lack of Diversity In Your Outside Counsel


Law firms remain painfully not diverse at the most senior levels, as we have discussed in a prior post. Despite decades of bar association statements, this pitiful state of affairs remains.  No one - whether in-house or outside counsel - has taken ownership to drive change, and consequently law has remained the the least diverse [...]

Want to Succeed As General Counsel? Boards and CEOs Are Looking For Business Leaders Who Happen To Have Legal Experience


As corporate clients continue to work to reduce legal costs, general counsels are expected to take on a new role in addition to that of top lawyer: business leader. Indeed, many general counsels are now being hired for their “business judgment as well as legal skills.”  When recruiting Julie Sweet from Cravath Swaine, the then-Accenture [...]

Wanna Be A GC Some Day? Read This. The Qualifications Are Changing.


Historically, JD-MBA grads have gone into Corporate America, finance, or consulting, using their legal background as a support in their business careers. But we predict that the next generation of GCs at major corporations will be JD-MBAs. We are starting to see this happen. For example, the new GC of State Farm, Steve McManus, has [...]

Dear GCs: The Business Thinks You Are Throwing Away The Company’s Money


Admit it.  GCs have few friends when the company budget is being discussed.   Everyone thinks the GC is giving money away to his or her former law firm. When the legal department is seen as a cost center, even GCs who are lawyer’s lawyers spend too much of their time playing defense on costs. This [...]

A Lesson From GE: You Can Get Fired for Sticking With That White Shoe Law Firm


The legal profession historically had some of the most inelastic economics of any business in the world. People liked to stick with what they knew, even though what’s on the other side of the fence might have actually been greener, or just as green. Clinging to a false sense of security, when prices went up, people [...]

99% of Legal Departments Are Investing In Data Analytics. Are You?


As we have written, data is essential to managing a legal department, raising the stakes for legal departments that have fallen behind.   In 2017, the stakes have never been higher. According to a recent survey, 99% of legal practitioners noted that data analytics will be “indispensable” for legal departments over the next ten years.  [...]

Rate Card Theater: What Law Firms have Learned from Macy’s


While sophisticated consumers of legal services would not equate purchasing legal services from top law firms with shopping at Macy’s and Marshall's, law firms are increasingly relying on a prized tactic of retailers: “retail theatre.” As most savvy shoppers know, retailers often give an item a very high “list price,” and then provide steep discounts [...]

Law Firm Discounts: If Everyone Gets One, Do they Really Exist?


As we previously discussed, the changing business model of law has focused attention on certain key metrics that capture the economic pressures that legal providers face.  Now, we turn our attention to a metric -- discounts on law firm rates -- that is misleading as a signal of legal department efficiency.   Prior to the rise [...]