As corporate lawyers themselves, Chris Millerchip and Robert Dow knew their target market inside out when setting up Practical Law Company (PLC). Having struggled to find anyone who published material that actually helped lawyers in practise, the pair moved to fill the gap in the market themselves. Founded in 1990, PLC has over 3,400 corporate subscribers including 80 per cent of the UK’s 500 largest law firms, the UK offices of 70 per cent of America’s 100 largest law firms and 90 per cent of FTSE 100 companies. It seems lawyers appreciate the move away from weighty tomes to a more commercially aware approach. “Our aim is to help lawyers give better advice, faster,” says Dow, PLC’s chief executive. And he’s confident that he has succeeded, adding: “We have changed the way lawyers work.” The company has 350 staff based in the UK and US, including the largest independent team of professional support lawyers outside of private practice. Sales have increased from £10.7m to £29.7m in the past four years. www.practicallaw.com
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