Technically Legal - A Legal Technology and Innovation Podcast Beyond Billable Hours: Flatiron's Conrad Everhard on a Fixed-Fee and Tech Based Approach to M&A
Nov 20, 2024
Conrad Everhart, founder of Flatiron Law Group, shares his journey from Georgetown grad to partner at major law firms like Jones Day. He left BigLaw to offer a cost-effective, tech-driven model for M&A services. The firm utilizes flat fees, low overhead, and custom software like Deal Driver to enhance client insights. Conrad also discusses his work with Stanford’s Codex project, where he's developing an AI negotiation simulator to train future lawyers, emphasizing the crucial blend of AI and human judgment in legal negotiations.
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Unintentional Law Career
- Conrad Everhard's career started at Georgetown's School of Foreign Service.
- He chose law over foreign service, a decision he reflects on with mixed feelings.
Value of M&A Lawyers
- High M&A legal fees are justified by the nuanced negotiation skills lawyers bring.
- This value is especially evident in the initial letter of intent stage.
LOI Stage Importance
- The letter of intent (LOI) stage in M&A locks up the target and sets deal parameters.
- Skilled lawyers create value by negotiating favorable terms like liability exposure.