X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Linklaters & Alliance has announced the first chief executive of its online division Blue Flag, as the magic circle firm struggles to bring its long- awaited float to market.Patrick Hynes, formerly an executive with BuildOnline, a company set up last year to provide software to the construction industry, has been named as Blue Flag’s first chief executive with a mandate to complete the restructuring of Blue Flag as an arms-length subsidiary of the law firm.Despite Linklaters’ stated aim of “hiving off” Blue Flag as a separately branded arm last year, the firm has yet to finalise details of how the division will be restructured, though November 2001 has been pencilled in as a likely date to relaunch the service.Blue Flag, which was one of the first attempts to commoditise legal services on the internet, was set up in 1996 and was designed to produce documentation for transactional work. It can also be used in a limited number of areas such as derivatives, employment and pensions work as a provider of legal advice.The fate of Blue Flag is being watched eagerly by rival firms, most of which have concentrated on offering document management systems and online research services to clients instead of providing core legal services on the internet.The cost of maintaining the database needed to back up complex computerised legal advice, together with the uncharted liabilities of offering advice online has made law firms struggle to find a way to make such services profitable.Linklaters claims Blue Flag is making money although no figures have ever been released.One partner told Legal Week: “It is the most profitable business by profits per partner but that is because there are only a few partners in the business.”Linklaters partner Paul Nelson, who was responsible for developing the system, said it was a question of “wait and see” as to when the Blue Flag would be split off.

This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.

A PREMIUM SUBSCRIPTION PROVIDES:

  • Trusted insight, news and analysis from the UK and across the globe
  • Connections to senior business lawyers within the leading law firms and legal departments
  • Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
  • The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
  • Optimized access on all of your devices: desktop, tablet and mobile
  • Complete access to the site's full archive of more than 56,000 articles

Already have an account?

For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651

 

Legal Week Newsletters & Alerts

Sign Up Today and Never Miss Another Story.

As part of your subscription, you can sign up for an unlimited number of a wide range of complimentary newsletters and alerts. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.