"When Logan Brown left Cooley to start a legal tech firm this spring, she moved to New York City. She has begun recruiting lawyers to her venture. "It's not that hard of a sell," Brown, 30, said on a phone call from her apartment in the Financial District. More junior lawyers want to help build the future, not watch it pass them by. For them, New York is the obvious place to be."
"Founded in 2023, Legora has been trading office rentals all year, starting in a coworking space and relocating twice as its need for desks increased. Its employees must be in the office five days a week. The strategy is simple: To woo elite law firms and corporate legal chiefs, Legora needs to be where they are. In 2024, the American Bar Association counted 187,656 lawyers in New York, the most of any state and just ahead of California's 175,883."
Legal technology adoption surged as corporate clients pressured law firms to use cost-reducing, efficiency-improving tools. Startups are relocating to New York to be near elite law firms and corporate legal chiefs. Founders and employees cite strong recruiting advantages among junior lawyers eager to build new products. Legora expanded to two floors at 838 Broadway after a funding round valuing it at $1.8 billion and requires employees in-office five days a week. New York hosts more lawyers than any other state, with 187,656 in 2024, and most of the largest US law firms headquartered or maintaining offices there.
Read at Business Insider
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