Developing joint ventures and fostering new ideas through collaboration is part and parcel of the legal tech landscape, and partnering within the ecosystem to share new ideas is a popular way to go. DAC Beachcroft is the latest firm to launch a research and development hub, Innovation Lab. Joint ventures can throw up different approaches: Norton Rose Fulbright and Syke Legal Engineering’s new strategic alliance is branded NRF | SYKE. Bird & Bird has gone further with bidding experts ShineX to create the brand Foothold (read more in our article ‘Buddying up’ on page 27). Creating a compelling story DWF has used the last few months to strengthen its proposition. By articulating its purpose (‘transforming legal services through our people, for our clients’), the firm sets out its stall to be a disruptor, pivoting on its legal teams, managed services and ‘connected’ services. Similarly, Linklaters has been successful in establishing its purpose (‘delivering legal certainty in a changing world’) as the cornerstone of its narrative. Both have dug deep to create a distinctive message, but others are less successful. CMS defaulted to generic claims (‘innovation underlies everything we do’) while Stephenson Harwood’s claim says almost nothing (‘it’s not just the quality of our legal advice that our clients rely on, it’s how we work with our clients that helps us stand out from the crowd’). As more and more buyers take the time to scrutinise differing approaches, achieving distinction and success will mean developing a persuasive story supported by proof-points. The way to develop a compelling narrative is the topic of our article ‘Selling your story’ on page 25.
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