Why Are We Unique? » Our Business Model
Our Business Model
The founders of Bespoke Law have spent considerable time and research in formulating its innovative and entrepreneurial business model. The aim was to create a legal business that “cherry picked” the most effective business techniques of our e-commerce era and translate them into a law firm perfectly aligned with its clients’ operations.
The Input? The Client
The core of our business model is the client and their needs. Bespoke Law:
- pivots around the client and the client’s business requirements.
- provides the client with quality legal services in a customised and cost-effective manner.
How? A Virtual World
The platform for the Bespoke Law model is a virtual law firm. The tools used to achieve this are business-savvy lawyers using clever technology and online tools.
- This means that the focus is more on the output and the quality of the legal service than on the overheads required to produce that service.
- As a virtual law firm Bespoke Law has no substantial overheads allowing it to produce a better value and more efficient final product for the client.
- With devices such as blackberries, iphones and laptops, our virtual lawyers no longer need the permanency, or cost, of a formal office environment. Rather, clever use of technology allows us to collaborate and communicate online with our clients, other lawyers and assistants, irrespective of their physical distance.
With the luxuries of technology and online applications, our virtual law firm takes the next step and fosters communication channels with clients that are superior to the traditional law firms.
What? Alternative Fee Arrangements
Alternative fee arrangements offer direct financial advantages to clients, and for Bespoke Law this is further facilitated by avoiding unnecessary overheads. We adopt a variety of value-based pricing models, such as:
Retainers- Capped fees
- Fixed prices
- Value pricing
- Staged costing
- Abort fees
All of these models proffer more budgetary certainty and control over client’s legal spend. These are not offered as a discounting exercise, but rather a value proposition.
The Output? The Client
The business model ensures that Bespoke Law becomes perfectly aligned with its clients.
- We immerse ourselves within our clients’ businesses as if we were their dedicated in-house legal representative. Together with our virtual platform, our services (such as an outsourced in-house counsel) and our alternative fee arrangements allow us to achieve this.
- Our focus is to provide a valuable proposition and solution to our clients. We consider them our partners.