A Wall Street law firm is selling software for clients to do their own legal work

A subsidiary of the prominent Wall Street law firm Cleary Gottlieb has ventured into the software market, offering tools designed to enable clients to perform legal tasks independently. This move comes as firms like Cleary Gottlieb grapple with the implications of artificial intelligence on their traditional business models, particularly concerning billable hours. ClearyX, the software arm of Cleary Gottlieb, has developed solutions aimed at streamlining corporate due diligence and contract analysis—services that are typically provided at high costs by law firms. By providing these tools, ClearyX aims to empower clients to handle more legal work themselves, potentially decreasing their reliance on external legal counsel. CEO Carla Swansburg emphasized that the initiative was a proactive measure to adapt to changing client needs. "The whole genesis was let's get out ahead of it," she stated in a recent interview. The firm recognized that existing technologies fell short of client expectations, prompting them to create software that could fulfill those demands effectively. ClearyX's offerings include two main products: CX+Transact, which facilitates the review of deals, enabling teams to allocate tasks, monitor progress, and generate reports, and CX+Insights, a tool designed for firms to analyze their contracts and visualize data through dashboards. In a departure from the common secrecy surrounding software pricing in the legal sector, Swansburg provided transparency regarding costs. Clients hiring ClearyX for diligence services can access CX+Transact at no additional charge, while standalone pricing begins at approximately $12,000 per project or $30,000 annually. Meanwhile, CX+Insights is projected to start at around $50,000 per year for multiple users. As the legal landscape evolves with advancements like large language models, ClearyX's foray into software aims to keep the firm relevant amid increasing client demands for cost-effective legal solutions. However, the question remains whether the legal industry requires yet another software solution, as competition in this niche continues to intensify with offerings from companies like Anthropic and their recent tool, Claude for Word, designed specifically for legal professionals. With this strategic launch, Cleary Gottlieb is not only testing the market for new legal technologies but is also positioning itself to remain integral to clients seeking to minimize their dependence on traditional law firms.