To land a licensing agreement renewal in legal tech, you have to earn high scores in certain law firm metrics on a revolving basis. Those milestones include obtaining high usage rates to meeting “soft” metrics that can be difficult to measure but crucial for some law firms’ tech assessments.
For global intellectual property law firm Fish & Richardson, a software’s impact on productivity is closely watched. “In general if it’s software used by our attorneys the most important metric we are tracking is improved productivity and efficiency for our attorneys,” said Fish & Richardson chief legal technology solutions officer Beau Mersereau. “We’re really trying to see how many hours or minutes we can save doing a task. The ultimate goal there is to work on something efficiently.”