Since lockdown, 45 new lawyers recruited globally, including 12 in the UK
360 Law Group, a global virtual law firm listed in The Times Newspaper Top 200 UK Law Firms 2020, has increased its turnover by 65% year-on-year since its incorporation in 2014 across both its regulated and unregulated law practices. The firm’s low overhead model and use of its proprietary state-of-the-art technology low overhead model and use of its proprietary state-of-the-art technology has enabled it to grow cost effectively, delivering significant cost reductions to its clients, whilst providing realistic returns for its lawyers.
Since lockdown, the Group has also recruited 45 new lawyers, including 12 in the UK, to extend its areas of legal specialisation and facilitate its expansion into 24 new jurisdictions, driven by client demand.
With 240 consultant lawyers now operating in 63 countries, 360 Law Group’s client numbers have grown, with a notable shift in client type – rather than small and mid-market clients, the firm is now attracting upper mid-market and enterprise clients including numerous NASDAQ, FTST 250 and 100 listed companies, multinational organisations and Government departments.
Robert Taylor, CEO & General Counsel of 360 Law Group, says, “We believe that this level of growth will be sustained, or even surpassed over next few years, following the launch of 360 Business Law America in January 2020, and the planned opening of our office in Asia. One key reason for our success in the UK and across the global operation is our use of technology, especially our own proprietary systems – that enable us to operate efficiently and trade cost effectively, ensuring high quality legal services at low fees for our clients.
“In addition, with one of the highest fee shares on the market, we’ve been able to entice some of the best legal minds in the industry to join our team. And we are continuing to recruit across all our new jurisdictions to deliver the highest level of coverage across corporate, commercial and employment law – always with a minimum of five years’ post-qualifying experience in their chosen area of specialisation,” adds Robert.
360 Business & Private Client Law was incorporated in 2014, and the group’s unregulated practice, of which 360 Business Law is the UK’s specialist business division. 360 Business Law and 360 Business Law America make up its global practice delivering legal services worldwide to its business clients.
“Our consultants operating on an unregulated basis through 360 Business Law and 360 Business Law America can take advantage of a mixture of hourly rate work and fee share work. Where we transact business on a fee share basis, we pay between 60% through to 75% of client fees to our lawyers, depending on who generated the work. In England & Wales we also operate an SRA regulated practice, 360 Law Services, which operates on a simple fee share structure with fee share starting at 70% where we provide work, and 75% where the consultant brings us work. To maximise income, many of our UK Solicitors work for both practices.”