LOS ANGELES and CHICAGO, April 23, 2018 /PRNewswire/ -- The founders of Valorem Law Group, Patrick Lamb and Nicole Auerbach, have created a new law firm called ElevateNext that will work alongside law company Elevate to help customers significantly reduce legal spend. ElevateNext will perform all "attorney-required" work for clients using the Valorem model, while all "attorney-not-required" work will be provided by Elevate.
The ElevateNext venture is a direct response to a growing trend in the legal market. Many law departments, especially Fortune 500 companies, now turn to law companies like Elevate for all aspects of legal work – except those few restricted activities that must be practiced by licensed lawyers. Now, customers will have seamless access to all of Elevate's technology, consulting and services, as well as sophisticated lawyers to handle the restricted legal work of transactions and litigation, provided by ElevateNext. Clients now have an innovative and cost‑effective one‑stop shop for all their legal service needs.
Both Elevate and Valorem have a history of positive disruption in an industry notoriously resistant to change. Elevate was founded by Liam Brown in 2011 to extend and enable the capabilities and resources of law department and law firm customers. According to the 2017 State of the Industry Survey published by the Corporate Legal Operations Consortium (CLOC), Elevate is the most-used law company and has been ranked as a top global legal services provider by Chambers & Partners for the past four years in a row. Valorem Law Group was formed by Patrick Lamb and Nicole Auerbach in 2008 and is nationally known for pioneering the use of alternative fee arrangements for sophisticated legal work, as well as its devotion to client service. In 2016, Valorem was named one of the "22 Law Firms Best at Delivering Alternative Fee Arrangements" by BTI Consulting.
"The current ethical rules that prohibit non-lawyers from investing in or owning a law firm have created a void in the marketplace when it comes to providing clients with sophisticated legal representation backed by cutting edge technology and legal process management," says Lamb. "Traditional law firms have not filled that growing void, leaving clients to inefficiently use multiple service providers to meet their needs. ElevateNext provides the first real alternative."
"Customers regularly ask Elevate to provide integrated practice of law and business of law capabilities," says Brown. "We are excited to partner with Nicole, Pat and the Valorem team to now be able to offer that through ElevateNext."
Auerbach adds, "We created Valorem Law Group more than a decade ago because clients told us they needed an alternative to the billable hour model. Now we have created ElevateNext so clients can leverage the strengths of the well-established law company, Elevate, along with its technology, process engineers, technical experts, subject matter experts and consultants, combined with the type of legal representation that is the foundation of the Valorem model. Giving clients access to all this through ElevateNext will provide them savings and efficiencies," she adds.
About Elevate: Elevate is a global law company, providing consulting, technology and services to law departments and law firms. The company's team of lawyers, engineers, consultants and business experts extend and enable the resources and capabilities of customers worldwide. Elevate is the most-used law company according to the 2017 State of the Industry Survey published by the Corporate Legal Operations Consortium (CLOC) and has been ranked as a top global legal services provider by Chambers & Partners for the past four years in a row. It has also been ranked on the Inc. 5000 Fastest Growing Private Companies list for the past two years in a row, including No. 53 in 2016. Learn more at elevateservices.com
About ElevateNext: ElevateNext is an innovative law firm formed by the founders of Valorem Law Group, Patrick Lamb and Nicole Auerbach. Lamb, Auerbach and Valorem are nationally known for having pioneered the move to "alternative fee arrangements" for commercial legal work, their commitment to unwavering client service and their focus on outcomes. In keeping with their practice of regularly re-imagining the delivery of legal services, Lamb and Auerbach partner with the law company, Elevate, to bring their collective vision of the future of law to reality. ElevateNext provides a one-stop shop for clients interested in sophisticated commercial representation using the Valorem model, backed by the cutting-edge technology, consulting and operational support of Elevate. Learn more at elevatenextlaw.com