Platform firm to aid lawyers setting up side ventures


Foster: Inspiring lawyers

A platform law firm is offering lawyers the chance to develop related ventures, such as technology offerings, alongside their practices, with conveyancing on the blockchain the first.

Inspire Legal Group is the new name for Foster Clay, a virtual law firm that launched in March 2020, as the UK went into lockdown.

It already has 23 lawyers working across the UK as consultants, receiving back-office support from 11 staff in the group’s Scarborough headquarters and retain 70% of their fees. The aim is to double the number of consultants by the end of 2022.

Alongside Inspire Legal, an alternative business structure, founders Natalie Foster and Isabel Bathurst have also set up Inspire Crypto, a business that will develop products enabling property transactions to proceed via blockchain, and Inspire Legal Academy, which will equip lawyers and others with the skills they need to take advantage of the world of blockchain, smart contracts and legal engineering.

Unlike most fee-share law firms, Inspire Legal Group is open to lawyers of all levels; it already has solicitors, licensed conveyancers and paralegals on its books, as well as legal entrepreneurs and engineers who need a support structure to create their own tech products.

The firm says it adapts to how lawyers want to work, rather than imposing ways of operating on them. It also offers personal branding, workshops and ongoing business coaching.

Bathurst: It’s all about vision and facilitation

Ms Foster is a former business manager at Barclays Bank, who then moved into the law and business development in the legal market. Ms Bathurst is an experienced complex injury and clinical negligence solicitor, with particular involvement in high-profile inquiry and inquest cases.

They said the primary aim of the firm was to be a digital-first practice operating seamlessly across a variety of practice areas.

Ms Foster said: “It’s not about growth for growth’s sake – it’s about inspiring lawyers to see there are many different things they can do in practice and to find new ways of delivering legal services. We are a group of colleagues where everyone has a stake in the success of the business.”

Ms Bathurst added: “It’s all about vision and facilitation; our goal is a supportive yet virtual, flexible working environment for lawyers and other professionals, with a focus on technology and modern, innovative working practices.”




Leave a Comment

By clicking Submit you consent to Legal Futures storing your personal data and confirm you have read our Privacy Policy and section 5 of our Terms & Conditions which deals with user-generated content. All comments will be moderated before posting.

Required fields are marked *
Email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Blog


Microsoft 365’s dirty little secret

Microsoft 365 (formerly called Office 365) is one of the most widely used cloud services in the world, controlling around 48% of the market share for major office suites.


A new route to practice rights for chartered legal executives

Following approval from the Legal Services Board in May 2022, CILEx Regulation has launched an alternative route for chartered legal executives to obtain independent practice rights.


NFTs, the courts and the role of injunctions

In May, news broke that a non-fungible token was the subject of a successful injunction made by the Singapore High Court. The NFT in question is part of the very valuable Bored Ape Yacht Club series.


Loading animation