Digitalisation and standardisation of legal services: Schalast acquires majority stake in the LegalTech and LegalOutsourcing pioneer Clarius.Legal
The Frankfurt-based commercial law firm Schalast is reacting to the constantly changing needs of its clients with respect to legal advice and the continued development of the various formats in which such advice is provided: Schalast is acquiring a majority stake in the Hamburg-based law firm Clarius.Legal on 1 July 2017.
Schalast is convinced that high-qualified lawyers with excellent expert knowledge will still be in demand in future in order to advise and support companies and entrepreneurs individually with respect to the complex challenges they face. Parallel to this, a broad range of legal tasks can already today be completed in standardised form. Individual parts or aspects of such routines are also assumed by software programs, often referred to as LegalTech solutions. By acquiring a majority stake in Clarius.Legal, Schalast is taking the diverse requirements placed on the provision of legal advice in to account. And with this investment and its expertise Schalast is strengthening a law firm which has established itself on the market: Clarius.Legal is a pioneer in the provision of LegalTech and LegalOutsourcing advice.
Founding partner Professor Dr Christoph Schalast will assume chairmanship of the supervisory board of Clarius.Legal. As he explains: "Our clients expect us to provide them with highly specialised, tailor-made legal advice. At the same time, to go easy on their budgets as well, they want access to standardised legal advice and LegalTech solutions. With our majority stake in Clarius.Legal, we can develop this at the highest level."
Clarius.Legal is a regulated, established law firm, which has specialised as a LegalOutsourcing partner. Schalast is now acquiring a majority stake in Clarius.Legal so that it can offer additional LegalTech solutions, standardised advice formats and ready-to-use outsourcing services at fixed prices. Clarius.Legal for example provides its clients with external data protection or money laundering officers and assumes legal housekeeping. Software-based due diligence services, document analysis and corporate housekeeping data rooms are also provided. The portfolio is rounded off by the assumption of tasks relating to all aspects of compliance. Clarius.Legal itself is not a software developer, which gives the law firm the flexibility to take advantage of the best offers in each case for its clients. The ready-to-use services offered by Clarius.Legal for SMEs and large companies complement the tailor-made advice provided by Schalast in areas in which individual advice is not (or no longer) required. They can in future source standardised legal services and in particular LegalTech solutions from Clarius.Legal. The services offered by the two law firms are perfectly matched.
The former Schalast partner Dr Ernst Georg Berger founded Clarius Legal. He will remain as managing director of Clarius.Legal and will become a partner at Schalast again, where he will head the practice Group Telecommunications & Energy. He welcomes the involvement of Schalast: "With Schalast, an investor is coming on board who will enable us to expand the pioneering role of Clarius.Legal in LegalOutsourcing and LegalTech. With our new, broad portfolio of ready-to-use advice services we will gain new clients and strengthen the relationships with current clients."
Why the investment in LegalOutsourcing and LegalTech?
Driving innovations in the provision of legal advice and supporting clients with their innovations is Schalast's objective and an area in which Schalast excels. The law firm has been advising FinTech and InsurTech companies for years (for example Weltsparen/Raisin, Creditshelf, Innolend, Bergfürst, Exporo or Clark) on the realisation of digital business models. Cooperation between start-ups and established companies in the relevant industry has proven to be a key success factor here for turning new ideas into sustainable business. Schalast also reorganised its own processes in 2016 and digitalised its law firm management and matter processing systems. A leading software provider nominated Schalast as a result for the STP Legal Innovation Award 2017, the first LegalTech award in Germany. "Due to our own digitalisation and the advice we have provided to FinTech and InsurTech companies, we have been able to build up comprehensive "tech" expertise, which I can contribute via my involvement in the supervisory board at Clarius.Legal," says Professor Dr Christoph Schalast.
Schalast is one of the leading commercial law firms in the German financial centre Frankfurt am Main. The law firm also has offices in Berlin and Hamburg. Schalast predominantly advises small and medium-sized enterprises from Germany and around the world. Schalast's currently approximately 40 lawyers are organised in the practice groups Employment Law, Banking & Finance, Corporate, Dispute Resolution, IP, Media & Technology, Telecommunication & Energy, as well as Inheritance and Family Law. The notary's office is an additional focus. The law firm is a member of the international network Multilaw and can as a result advice and assist clients worldwide. Schalast distinguishes itself with first-class legal advice and an appropriate hands-on mentality. Schalast's priority is finding and implementing the best individual, pragmatic, tailor-made and sustainable solutions for its clients. Numerous awards confirm the law firm's high level of expertise. www.schalast.com
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Prof. Dr. Christoph Schalast
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