Launches innovation-centered subsidiary, LX Studio, on our site
Norton Rose Fulbright Launches Innovation-Focused Subsidiary, LX Studio
Norton Rose Fulbright, a global law firm, has announced the launch of LX Studio, a US-based subsidiary dedicated to accelerating legal innovation through technology and digital transformation [1]. The new entity aims to provide more effective and efficient legal services beyond traditional advice, focusing on helping clients make the most of their intellectual and creative assets, strategically manage intellectual property (IP), and navigate complex competitive and regulatory landscapes to advance their business goals.
LX Studio's purpose extends beyond offering conventional legal services. It aims to provide strategic IP advice aligned with clients’ business imperatives, help clients mitigate intellectual property and regulatory risks in new markets and with emerging technologies, deliver practical, business-focused results in disputes, and transform the legal service delivery model to be quicker, more cost-effective, and better tailored to client needs.
Christy Bentz, the Chief Client Value & Innovation Officer of Norton Rose Fulbright, believes that LX Studio further positions the firm to build, co-develop, and partner with clients on personalized service solutions, in response to the evolving expectations of legal service delivery. LX Studio will collaborate with legal technology companies, alternative legal services providers, and may partner with or invest in novel technologies.
The focus of LX Studio is to serve as a strategic innovation partner, helping clients leverage their intangible assets and intellectual property comprehensively for competitive advantage and business growth, going beyond the scope of traditional legal advice to include technological and strategic innovation support. LX Studio will develop products and services for use by the firm's lawyers and clients, including legal operations solutions for corporate legal departments.
LX Studio's business model extends Norton Rose Fulbright's existing platform. It will house some of the firm's existing technology products, including the award-winning privacy compliance tool suite NT Analyzer. Jeff Cody, the firm's US Managing Partner, stated that LX Studio's focus is to provide innovative solutions that enable clients to achieve their legal and business objectives efficiently.
Christy Bentz's statement highlights the importance of understanding the 'how' of legal service delivery, with LX Studio being a tool to facilitate this understanding and collaboration. She emphasized that the new subsidiary is an initiative that supports clients, focusing on offering new and different services. Gina Shishima, the Chief Strategy and Operations Partner of Norton Rose Fulbright, has stated that LX Studio allows the company to capitalize on its resources and innovative focus, bringing new opportunities to offer new and different services to support clients.
Our clients want not only legal advice but also problem-solving capabilities, and LX Studio is being built to address this need. It will be part of Norton Rose Fulbright's global innovation and service delivery program, NRF Transform. Neither Gina Shishima nor Christy Bentz mentioned specific goals or objectives for LX Studio beyond offering new and different services, personalized solutions, and collaborating with clients.
In summary, LX Studio is designed to be a strategic innovation partner that helps clients leverage their intangible assets and intellectual property comprehensively for competitive advantage and business growth, going beyond the scope of traditional legal advice to include technological and strategic innovation support. The new subsidiary is expected to bring innovative solutions to Norton Rose Fulbright's clients, helping them achieve their legal and business objectives more efficiently.
[1] Norton Rose Fulbright. (2021). LX Studio: Accelerating Legal Innovation. [online] Available at: https://www.nortonrosefulbright.com/en-gb/news/2021/lx-studio-accelerating-legal-innovation [Accessed 20 May 2021].
- LX Studio's purpose involves utilizing technology and strategy to offer innovative legal services, aiming to improve finance and business outcomes for clients.
- The establishment of LX Studio positions Norton Rose Fulbright at the intersection of law, business, finance, and technology, supporting clients in navigating complex landscapes and maximizing their competitive advantage.
