Large law firms are increasingly setting up new business units and subsidiaries—from consulting services to technology businesses—in the U.S. in hopes of competing with a growing number of alternative legal services providers.
London-based Norton Rose Fulbright recently announced the launch of LX Studio, an innovation-focused U.S. subsidiary dedicated to advancing the firm’s digitally-driven service strategies in order to benefit clients beyond just traditional legal advice.
LX Studio will work with legal services and legal tech providers to create and offer products and services for clients and lawyers at the firm, according to partner Daniel Farris. The business will also offer legal operations solutions for corporate legal departments. In order to extend the firm’s existing platform, it may additionally partner with or invest in novel technologies and alternative legal services offerings, should the opportunity arise.
LX Studio will offer a broader range of services than NRF Transform, another firm unit that mainly provides legal operations services and to this point has primarily operated in Europe. It will also be the new home for some of the firm’s pre-existing technology products, like the award-winning privacy compliance tool suite NT Analyzer.
“LX Studio’s focus is to provide innovative solutions that enable our clients to achieve their legal and business objectives in the most efficient way possible,” said Jeff Cody, Norton Rose Fulbright’s U.S. Managing Partner. “We want to identify, develop, and invest in the very best technology and help our clients put it to use quickly, effectively, and comprehensively.”
Gina Shishima, the firm’s Chief Strategy and Operations Partner, echoed Cody’s sentiments: “With the unending evolution of the business and practice of law, LX Studio allows us to capitalize on our tremendous resources and innovative focus. This initiative will bring new opportunities so that we can offer new and different services to support our clients.”
The launch of LX Studio comes on the heels of the firm’s recent opening of an office in the startup-centric Fulton Market District of Chicago by Farris, along with a team of tech-focused professionals and leading lawyers across a range of practices.
Reed Smith, Wilson Sonsini Goodrich & Rosati, Baker McKenzie, and Dentons have all created similar internal or affiliated ventures, and Cleary Gottlieb Steen & Hamilton is also developing a new tech outfit of its own called ClearyX.