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Axiom is a “new model firm"[1] with 200 attorneys in offices in New York, San Francisco and London according to the company’s website.
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History
Axiom was founded in 2000 by Mark Harris, previously an associate with Davis Polk & Wardwell. In a 2007 article in San Francisco Magazine, Harris compared Axiom to “placing the traditional law firm in a wind tunnel and stripping away all that is unnecessary.”[2] Axiom is among a group of new legal service providers referred to as virtual law firms or Law Firm 2.0.
According to the company’s website and news articles, Axiom’s business model differs significantly from traditional law firms. The firm does not utilize a partnership pyramid structure and Axiom attorneys choose their engagements based on their level of interest in the work and client involved. Compensation levels vary based on the attorney and, if an attorney chooses not to take an engagement, they go “on the beach” in a manner similar to other consultants.
Also like consultants, Axiom attorneys are closely integrated with their clients, often working side-by-side. As a result, Axiom does not require the physical overhead of a typical law firm and its billing rates are typically one-half of those of its competitors, according to a Financial Times article.[3] The firm is also backed by venture capitalist Bob Kagle who gained notoriety for his $6.7 million investment in eBay.[citation needed]
Axiom helps its attorneys attain greater self-determination in the way they work and a better work-life balance which, according to the Wall Street Journal’s Law Blog, has recently emerged as a pressing issue within the legal community.[4] Axiom’s role in this movement was recognized in a San Francisco Magazine story entitled “Being a Lawyer Doesn’t Have to Suck.”[2] This issue was also signaled recently by the launch of Building a Better Legal Profession, the grassroots organization started by students at Stanford Law School
Clients
Axiom’s clients represent a cross-section of Fortune 500 companies including Cisco, Google, Honeywell, Dow Jones, NBC and Yahoo.[citation needed]
References
- ^ "The Rise of the New Model Firm", The National Law Journal 21 May, 2007
- ^ a b "Who Says Being a Lawyer Has to Suck?", San Francisco Magazine January 2007
- ^ "Business Life: Take the Law Into Your Own Hands," Financial Times 27 November, 2007
- ^ "Axiom: A Different Kind of Legal Practice?", Wall Street Journal Law Blog 27 November, 2007
External links
This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)
