"Three representatives" of Internet legal Services

In the era of the Internet "subversion", another traditional field, the online legal Service, which is regarded as the blue sea, has also gathered many subversive people: the Green Dog Net, the green cloud NET, the legal system, the law fighter, the Everton, the commercial law pass, the fast French law. There was also a recent French-ocean network of Kindu law firms and music-viewing investments.

Although entrepreneurs, but everyone on the Internet legal Services content, how to promote, to whom fees and other basic issues far from reaching a consensus, is still in the "Eight, recount" exploration stage. Tiger Sniff visited three in Beijing--the green dog, the French warrior and the French sea, they just represent the three schools "the Market Frontier faction", "the vertical search faction" and "the Legal school".

Before discussing the Chinese Internet Legal Service mode, it is necessary to look at the American legal zoom. Investors who understand legal zoom tend to look down on the prospect of online legal services because of "uncontrollable risk".

A lesson from LegalZoom

The online law website, founded in 1999, covers company establishment, change, trademark registration, bankruptcy and personal divorce, house sale, and probate. After users answer a series of questions online, Legal zoom the format of the legal documents or give legal advice, the fee is only a fraction of the amount of advice to counsel. By 2011, Legal Zoom users to 2 million, the whole year 490,000 business transactions, revenue 156 million U.S. dollars. In California, 20% newly established limited liability companies have received legal zoom services. In the first half of 2012, Legal zoom revenue of $96.46 million. The company plans to sell 8 million shares in the NYSE in JULY to raise $80 million to 96 million dollars.

But at a critical juncture, LegalZoom was sued by the Law Society in more than 10 states. The lawsuit not only delayed the listing process, but also scared away investors. At the end of August, Legal Zoom was forced to withdraw its listing application. At the end of December, a European private equity base named Permira Advisers LLC purchased legal zoom holding rights at a cost of $200 million. Today, Legal Zoom's lawsuits in the states have largely subsided and the site is still operating normally.

Legal Zoom's most fundamental problem is the cheese of a vested interest. The United States is a country ruled by law, and countless Americans and businesses have to deal with the law constantly throughout their lives. However, as a federal common law country, the United States federal law and the state law of the system, duplication, and the 50 states, a large number of legal provisions vary enormously, in addition to a complex of municipal law in which the complexity of the legal system is difficult to grasp the ordinary people. This has bred a huge market for legal services. The research institute noted that the market value was as high as $266 billion in 2010 alone. American lawyers have an hourly service charge of about 320 dollars/hour, which is just the average! To a considerable extent, American lawyers make money by opaque information!

Although legal Zoom stated that he was not a law firm, the legal documents provided could not replace the opinions of practising lawyers. But in essence, Legal Zoom did not create a new cake, but from the lawyer's mouth Rob Cake, be discredit is inevitable.

Then we will look at the domestic Internet Legal service providers are how to choose the path.

Market extension: Green Dog

Ms. Zhang Xinxin, founder of Green Dog, is a successful continuous cross-border entrepreneur with experience in the field and excellent market sense. She chose to provide legal services for small micro-enterprises as a breakthrough to expand the boundaries of legal services. China's existing tens of millions of small micro-enterprises, and the new millions of annual growth rate. Business registration, trademark registration, taxation consulting, patent applications are small micro-enterprises just need. But because each single business "small Micro", the customer inconvenience, the law firm cannot provide the service. As a result, these businesses are a plethora of "street intermediary", the service is not standardized, the charges are opaque ... Green Dog for small micro-enterprises to design a series of products, and the use of basic services free (such as registered companies), value-added services fees (registered trademarks, agent accounting, etc.) "Internet thinking" to complete the user's "primitive accumulation."

If the registration service of the hundreds of thousands of millions enterprises is free to help the green dog, if they have any legal needs in the future, they will naturally seek service through the green Dog. The Green Dog does not offer these value-added services, but rather "pack" the demand to the service provider and charge a commission.

With more experience and confidence, Zhang Xinxin's pace is unusually fast, and it has been the first in the industry to scale and income. 2012, in its own funds under the support of the Green Dog Network officially on the line; 2013 won the 2 million dollar a round of financing (investors for Morningside Capital and the Real fund); At the end of June 2014, staff Development to 100, unit monthly revenue breakthrough 1 million; root Zhang Xinxin revealed that tens of millions of dollars in the second round of financing will

Recently, the Green Dog Network has also signed a cooperative agreement with the Peer-to-peer loan Platform building block box and Tian Tim, providing "evidence-hosted" services for the two emerging Internet financial enterprises and their users. The following measures are: The green Dog holds the relevant information of the Peer-to-peer platform financing project and checks and holds the project data by the professional lawyers team to ensure that the contract and the related project data are authentic and signed; Investors can check the status of the outstanding items of their investments in the evidence hosting platform. If the contract is properly performed, the Green Dog NET will return the contract to the Peer-to-peer platform 30 natural days after the end of the contract. When the extreme situation, such as platform running, Green Dog network will be based on the authorization of investors, the launch of collective rights services. Green Dog Network will retain the project information and other relevant evidence, the supervision of the project has been timely implementation until the end of the dispute to protect the interests of investors.

Once a large amount of money in place, the green dog will be like 58 of the city as large to the line soliciting source, lose money to provide services, and further consolidate the scale advantage, establish brand image, the purpose is to "Internet Legal Service leader" posture first listed.

Vertical search represented: Law fighter

Mr. Xu Kaizin, founder of the Law Fighter, is a law doctor at Yale University and a registered lawyer in New York state. Prior to the founding of the law fighter, Xu Lawyers for the world's largest international law firm, DLA Piper Partner, the main area of work is VC, with IDG, Sequoia, British Federation, Carlyle and other funds to deal with greater China investment projects.

The law fighter is positioned in the Legal Service vertical search platform, which itself does not provide any legal services and the demand side and the provider (lawyer) link up. Because the information is opaque, a large number of individuals and enterprises with legal service needs can not find a cost-effective lawyer, the choice is very limited. On the other hand, competitive lawyers (especially young, without networks) have no access to potential clients, and it is difficult to obtain a source of the case on the basis of fair competition.

The law fighter is essentially the legal profession. On the one hand, through the purchase of keywords from Baidu to obtain traffic (per click cost of about 4~5 yuan, the total conversion rate of 6%). On the other hand, for lawyers to certify, file, contract (similar to where to go with OTA or directly with the hotel contract). After the supply and demand match succeeds, the law fighter collects the Commission from the service provider (that is to say, the effect charges). Xu lawyer also disclosed that participated in Baidu's Aladdin plan.

More worth pondering is: Xu lawyer in Singapore to receive education, angel investor is the clean capital (Zhungchengsu is one of the investors), Baidu came from Wang Mengqiu is the director of the law fighter. From the "Family" and "gene" to see, the French fighter has a strong Baidu color.

Legal School: French Sea Network

Unlike the law dog, the founder of the law fighter only has a legal background, the founder of Chen Yifan and the main start-up partners are from the Kindu law firm partners, and Kindu or angel investors. As far as the understanding of China's current legal situation is concerned, and in the judicial field, the Law Sea Network is the deepest.

Absorbing legal zoom experiences and lessons and combining China's national conditions, the Law Sea Network believes that there are two key points in the online Legal Service import period.

First, Internet legal services should first serve the internet without touching the cake of the profit-making people. Mr Ma and Wang Jianlin bet that 2020 will surpass the online trading. How can a trillions deal not escort legal services? The huge demand associated is incremental, not the dish of existing lawyers.

Of course, for the Internet to provide legal services to find a good "pain point." At present, the biggest problem of online trading is the preservation of evidence. Spend hundreds of, thousands of buy goods, network service provider to cut content, user "Tales". In most cases, user "screenshots" are not valid evidence. Therefore, there is a market for evidence preservation services. But evidence preservation needs to be co-ordinated by internet companies, and which companies are willing to take the initiative to "make trouble" for themselves?

France Sea Network chose Peer-to-peer loan platform as a breakthrough. Peer-to-peer Financial platform is mixed, often have "run away", investors worry about the safety of funds, but also suffering from the difficult evidence. In this case, it is possible to persuade some peer-to-peer companies to cooperate with the evidence preservation work to win the trust of investors (Peer-to-peer companies can make this a selling point). Here, the French Sea network for Peer-to-peer platform is to provide additional services. In addition, according to the central bank request, the Peer-to-peer loan platform must trust the fund to the bank. Evidence is entrusted to online legal services, funds to banks, and a Peer-to-peer loan platform's "double escrow" is likely to become "standard" and even become "necessary" with the support of regulatory authorities.

Of course, the need for evidence-hosting to be a Peer-to-peer loan platform requires a number of qualified service providers (green Dogs are already offering this service and will be more in the future). Many online legal players have the opportunity to "fight the strength and the background", such as the seniority of the partner, whether the shareholders are very cattle, and who the partner is.

Secondly, Internet legal services should first serve the legal workers, improve their efficiency, and bring them more benefits. For example, like the "Cruise" this app, not only can advance value of the machine to choose seats, aircraft models, Machine age, more can provide detailed flight status, tell the user to go to the gate, where to take the bus ... Obviously, the data for this app and the civil aviation system are open. The first step in the service of legal workers is to provide a similar service: the provision of national courts (more than 3,000) for filing and handling cases. Counsel submits the file to the Court, the procedure in which the court system goes, the same defendant has no ongoing proceedings in the National court system, the freezing of property, the enforcement ... Such a free application, lawyers friends can not welcome it?

Peer-to-peer business has gathered high net worth people (investors), "Court Pass" (for the time being) attracted a large number of lawyers, the first wave of people have legal requirements, the FA Hai platform will bring them together to the second wave of people "tender."

Conclusion

Legal Zoom listing Plan abortion, known as "Do China Legal Zoom" The Internet legal entrepreneurial team must be a bit dazed, investors also misgivings. The three families introduced today have avoided confrontation with powerful vested interests in different ways. The small Micro Enterprise registration service of the Green Dog the dish from the law firm's Plate and the demand for value-added services collection, packaging for the lawyer to deal with; the law fighter is a vertical search to help lawyers find the source of the case; the French-Sea network provides an additional credit service for the Internet loan platform, which is a new cake. At the same time, former practising lawyer acts as product manager to create an app to improve the efficiency of handling cases for practising lawyers.

It would be useful to define the imagination of three companies: the Green Dog is the legal 58 of the same city, the law fighter is the legal profession to where the network, the law fighter is the Internet in Kindu!

(Responsible editor: Lvguang)