As reported in the Fin. Times, Oct. 17, 2008 by Rod Newing, the UK firm, Allen & Overy, has created Diligence, an online database of legal memoranda prepared by its local offices or commissioned from local counsel. Law departments may subscribe to this service for a fixed annual fee of $3,000-$4,000 per jurisdiction.
According to the newspaper article, Diligence had attracted 11 subscribers in the year since its launch in August 2007. “It needs about 15 subscribers to breakeven and has a target of 48 within five years.” This is an impressive example of an alternative model for delivery of value to law departments (See my post of Oct. 17, 2005: online offerings by law firms.