New e-marketplace for legal eagles

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Andersen Consulting is to team with LawCommerce.com to develop an electronic marketplace of products, services, and online technology solutions for the legal industry. More than 30 US law firms from Silicon Valley, Wall Street and across the country have already announced their charter membership in the LawCommerce.com e-marketplace.

Andersen assist in strategic business planning and creating the core infrastructure for the company’s e-marketplace. Andersen’s San Francisco centre will develop a LawCommerce.com e-marketplace to provide law firms and other members of the legal profession with goods and services tailored to their needs. Andersen Consulting will acquire a minority interest in LawCommerce.com.

The LawCommerce.com e-marketplace will include:
* a selection of products and services for legal professionals worldwide;
* purchasing power for the legal profession;
* automated procurement for determining best prices, tracking costs, and controlling expenditures;
* an open membership of professionals, service providers and product vendors
* a solutions center tailored to meet law practice needs.

“LawCommerce.com is building a world class e-marketplace for the legal profession, and Andersen Consulting has significant technology, exchange and procurement expertise to help us do this,” said Richard Harroch, LawCommerce.com founder and chairman. “The firm brings unparalleled eCommerce know-how and experience to this project. We look forward to working with Andersen Consulting to help us revolutionize the legal profession into the internet age.”

“The legal industry spends an estimated $50 billion plus annually for products and services. Industry pioneers such as LawCommerce.com are well positioned to help reduce these costs significantly,” said Frank Crocitto, partner, Andersen Consulting. “Our skills matched with LawCommerce.com’s experience in the legal industry should enable great simplification of today’s paper and process intensive purchasing mechanisms. This technology has the potential to measurably improve the business and practice of law.”

Andersen Consulting’s 24 Dot-Com Launch Centres provide initially-funded eCommerce start-ups with the resources to become viable businesses. Unlike an incubator, which works with businesses in their first 60 to 120 days, the launch centres work with businesses that already have a nucleus of management and financial support.

Andersen Consulting has approximately 65,000 people in 48 countries.

LawCommerce.com is using the internet to aggregate legal commerce, automate procurement processes, and improve the day-to-day interactions of law practice. LawCommerce.com has a world class advisory board of leading law firm chairmen, corporate law department lawyers, and well known private practitioners. A number of prominent law firms are investors in LawCommerce.com.

Charter Members include: Akin, Gump, Strauss, Hauer & Feld, L.L.P.; Bartlit, Beck, Herman, Palenchar & Scott; Bingham Dana LLP; Brobeck, Phleger & Harrison LLP; Brown Raysman Millstein Felder & Steiner LLP; Bryan Cave LLP; Cadwalader, Wickersham & Taft; Cooley Godward LLP; Crosby, Heafey, Roach & May, P.C.; Foley & Lardner; Gibson, Dunn & Crutcher LLP; Gray Cary Ware & Freidenrich, LLP; Hale and Dorr LLP; Hunton & William; Jones, Day, Reavis & Pogue; Kilpatrick Stockton LLP; King & Spalding; Kirkland & Ellis; Littler Mendelson P.C.; Mayer, Brown & Platt; Milbank, Tweed, Hadley & McCloy LLP; Morgan, Lewis & Bockius LLP; Orrick, Herrington & Sutcliffe LLP; Preston, Gates & Ellis LLP; Shaw Pittman; Skadden, Arps, Slate, Meagher & Flom LLP; Swidler Berlin Shereff Friedman, LLP; Thelen Reid & Priest LLP; Venture Law Group P.C.; Wachtell, Lipton, Rosen & Katz; White & Case LLP; Wilmer, Cutler & Pickering; Wilson, Sonsini, Goodrich & Rosati.

LawCommerce

Anderson Consulting

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