Startups and Legals
A major line item in a company’s financials is Legals. Companies need legal opinions, contracts, regulatory clarifications and compliance and even agreements binding internal partners and team members.
For startups, known mainly for bootstrapping, hiring and keeping an in-house lawyer on a full time basis is a huge financial burden. This is a burden startups know they have to shoulder especially as they grow out their operations and team size.
Enyioma Madubuike and Shina Adeboye got their legal tutelage from the prestigious University of Ibadan. After the compulsory legal education from the Nigerian Law School, and few years at different law firms, they launched Legit.ng, a legal repository and services referral platform. With time, users on Legit.ng needed extra legal support and guidance in their business affairs, hence, Lawrathon.
Lawrathon is a quality, timely and bespoke legal service provider on subscription basis. It is out to bring quality legal services to businesses, startups and SMEs at pocket-friendly prices. It takes into cognisance the harsh economic terrain startups work before finding market fit, serve their customers while keeping the lights on.
Lawrathon has a compelling pricing strategy targeting startups at different stages of growth starting from N50,000 for a year retainer; when pro-rated, a startup could leave the tap to legal services and support running at less than N4,200 a month. This price point, when put into perspective, for an early stage growing startup, is a win. For Lawrathon, they’re hoping startups see the value early enough in their growth journey.
Growth in a Changing Landscape
Despite being a bootstrapped venture, Lawrathon since launch early in the year, currently serves more than ten startups and SMEs. In a market where the legal services apathy is on a high, and with a lawyers ‘glut’, this is a good signal to the acceptance of Lawrathon in the market.
Technology is mutating and disrupting where possible, businesses and access to services. Enyioma and Shina are keenly watching the technology landscape and how these changes impact their business and clients. According to Enyioma ‘ we believe the legal service delivery model in Nigeria is open to change and we are glad to be in front of that movement.’
Lawrathon has quite some ambitious plans to serve businesses beyond its founding country, Nigeria. The founders hinted at their openness to welcome venture supporters willing to help them on the journey to bring quality, timely and affordable legal services to businesses across Africa.
Lawrathon with its range of services can be accessed here.