A hundred and fifteen years ago, Paul Cravath set up a radically new law firm model (widely imitated) by hiring (and paying) bright young associates in a "tournament of lawyers" model relying on face to face mentoring to serve growing corporate clients. Today, the first and largest "cloud based" law firm FisherBroyles continues to expand, having no offices, but using technology to connect attorneys, who can offer much lower rates to the start up and nascent companies who simply can't pay "big law" prices. Whether this new virtual model will succede depends on whether the collaborative decision making necessary for high quality legal services can be done via technology. If so, the FisherBroyles model may well be as influential as Paul Cravath's once was.
Its 150 attorneys, across 20 U.S. markets, leverage technology to operate independently from the traditional law firm model in an effort to provide more cost-effective rates to clients.