W I L L C O N S U M E R S L E A D T H E N E X T W AV E O F L E G A L I N N O VAT I O N ?

Abe GeigerCEO Shake

@AGEIGERSHAKELAW.COM

# B I G L A W # T I N Y L A W

$270 bnIn Legal Services

$97 bnConsumer & SMB Legal Services

HIGH MARGINS

INEFFICIENT

NO TRANSPARENCY

Agreements Per Year

32MM P2P COMMERCE

468MM5MM SMBS

587MM43MM FREELANCERS

2.6B3.6B

AGREEMENTS/YEAR * SMB - excludes non-employer firms

* P2P Commerce - Craigslist ‘For Sale’ posts

L E G A L I N N O VAT I O N : H I S T O R I C A L

Top Down:Follow the money

W H AT W I L L L A W Y E R S / F I R M S PAY F O R ?

E-discovery, document management, knowledge management, data rooms, etc.

B A R R I E R S T O C H A N G E

Inertia, switching costs, process, risk aversion,

incentive structure

T H E I N N O V A T O R S D I L E M M A

Why change something that’s working so well?

I N N O V A T I N G F R O M T H E B O T T O M U P

People first, Organization second

Faster, Cheaper, Easier, Better

W H Y T H I S I S P O S S I B L E T O D AY

Lower costs to build and provide solutions to the average consumer

• Proliferation of connected devices• Increased access to high speed internet

W I D E S P R E A D A D O P T I O N O F T E C H N O L O G Y

M O B I L E U N I C O R N S( $ 1 B + C O M PA N I E S )

TWITTERWHATSAPPUBERSNAPCHATSPOTIFYDROPBOX

PANDORAINSTAGRAMEVERNOTESQUARESLACK

L E A P F R O G P O T E N T I A L

Leapfrog old infrastructure where old infrastructure never existed.

M A T T E R N E T

No roads necessary. Massive infrastructure leapfrog opportunity.

Cheaper. Faster. Safer

M P E S A

No cash necessary. Massive financial

leapfrog opportunity.

Safer. More Accessible

25%

of GDP

M P E S A

92%

Adoption

M P E S A

Aren’t we here totalk about thelegal industry?

S P E E D , S E C U R I T Y

I N T E L L I G E N T , A C T I O N A B L E

PAYMENT TERMS

DUE DATES

DISPUTE RESOLUTION

STRUCTURED DATA

ACTIONABLE TRIGGERS

• Invoices • Payments• Reminders• Renewals• Taxes• Market data

A C C E S S I B L E , E F F I C I E N T

1. Start creating a document yourself

2. Confused? Call or message your attorney!

3. Automatically share in-process document with the attorney

Your law firm is ready and waiting to answer any questions you may have about the agreement you’re drafting. The information you’ve input already will be passed along to our attorneys so you can get fast answers to your questions without having to start from scratch.

Need some legal advice?

T H E T R A D I T I O N A L S U P P LY & D E M A N D Dollarper matter 1. Unmet Demand & 2. Over Supply

Number of matters addressed

SUPPLY

DEMAND

T H E S O L U T I O N T O T H E M O D E L Dollar

per matter 1. Lower Cost & 2. Increase Accessibility

Number of matters addressed

ARCHAIC SUPPLY

DEMANDTHE TRADITIONAL MODEL• $300/hr for 1 client for 1 hour

THE NEW SUPPLY

THE EFFICIENT MODEL• $100/hr for 3 clients for 20min each

How to get to $300

“Necessity is the mother of invention”

O T H E R O P P O R T U N I T I E S I N L E G A L

• Easier and cheaper access to lawyers (virtual): online marketplaces, video conferencing

• Better options for DIY solutions: templates, e-signatures

• Better analytics: billing predictability and fixed rate services

• Smarter integration of legal and business practices: contracts to invoice to payment processing to taxes

• Better access to data: market rates and terms

Innovation will help lawyers scale to serve #TinyLaw in a way that makes sense

T H A N K Y O U !

shakelaw.com@shakelaw