A perspective on why it might be a bad idea to have outside investment in law-ish firms and why legal has long been disfavored as a startup investment (now changing a bit). 

Two thoughts:

  1. In a professional relationship, the best solution returns all the value to the client.  Like good teaching.  When done perfectly, the professional retains none of the value, other than reputation and acknowledgement for their effort (which may be financial).
  2. Law is public.  I’ve expressed this a number of times.  In short, there is really no solution to “law” or “the law of the parties” that does not put the parties in control and the text in the public.  The network benefits of law, and the flatness of text, mean that there just isn’t anything that the supplier can hold back, except how parts go together.  If the fit of the parts is easy to see, then all that is left to sell is lawyering in the traditional sense.