reverse auction, legal services, feasibility, entrepreneur, access to justice
Individuals who experience personal plight legal issues face several barriers to justice. Low- and medium-income earners are especially disadvantaged, given the high financial, temporal, and emotional costs associated with accessing justice. Simultaneously, law schools are graduating more law students than jobs available. The imbalance leaves many young lawyers, with mounting debt, no means with which to pay off the debt. The purpose of this study is to assess the viability of a legal services reverse auction platform as a solution to the access to justice and lawyer oversupply problems.
The feasibility study examines the characteristics of the business models of twenty-one Internet-based reverse auctions. Commonalities between the eight successful legal services reverse auction platforms were compared to those of the thirteen unsuccessful legal services reverse auctions to draw inferences about whether or not a future legal services reverse auction would be feasible as a new venture and, if so, how to implement the basic strategy and structure of the new venture. The study revealed that a legal services reverse auction new venture would be feasible, pending further study. The study analysis identified that supporting on-platform collaboration between lawyer and client, making various non-traditional billing methods available, maintaining lawyer profitability, and offering business or entrepreneur legal services in addition to personal plight are likely critical to the success of a future legal services reverse auction new venture.
Dr. Gerry Kerr
Dr. Francine Schlosser
Master of Business Administration
Major Research Paper