Case study
How a Managing Partner used Practical Law Canada to scale and expand his business
Segev LLP got its start nearly 10 years ago when twin brothers Alon and Ron Segev decided to join forces after practicing on opposite sides of a debt collection file. Alon represented the creditor, while Ron represented the debtor. After a period of six months — and some uncomfortable family dinners — the file resolved, and the brothers decided, moving forward, to sit at the same side of the table.
That decision marked the beginning of Segev LLP — a small firm with a team of six that has since grown to 50. In the space of a decade, they’ve been able to scale the firm quickly, expanding from business law and real estate law into new practice areas like online gaming, sports law, and blockchain and cryptocurrency. A key contributor to the firm’s growth, says Managing Partner Alon Segev, is Practical Law Canada.
Practical Law sparks growth in practice areas — and deal sizes
Not only has Practical Law been instrumental in helping the firm expand into new practice areas, but it has also helped them grow deal sizes. “It’s a tool that levels the playing field," says Segev, allowing the firm to compete with larger national and international firms.
In the last 10 years, they’ve been working hard to make a name for themselves and develop trust in new practice areas, including mergers and acquisitions (M&A). Practical Law provided the advantage needed. “M&A transactions of $30-$50 million is our sweet spot,” Segev explains. “We're able to do those transactions quite easily because of the toolkits that are provided with Practical Law.”
An investment in team growth
The beauty of Practical Law is that it provides practical — and trusted — information. It’s particularly useful, says Segev, for articling students and junior lawyers who need to get started or find answers to questions. “It's basically like having a mentor that they can log into anywhere in the world,” says Segev, which also helps him balance his obligation to clients and his role as a mentor in the firm.
When articling students approach him after first consulting Practical Law, he says the drafting is “much better and tighter.” He admits he still learns from it when he’s reviewing work that’s been prepared using Practical Law.
Trusted content, confident advice
From claims and checklists to market changes, the Practical Law toolkits are incredibly helpful to all at the firm. “The M&A toolkit is really fabulous,” admits Segev. “The checklists are thorough and help to make sure users aren’t missing anything.”
Also important to the firm is the What’s Market content. “Oftentimes, clients come to us asking us what market terms are on a specific transaction,” says Segev. Practical Law enables them to give timely advice. “What's Market changes almost every year. So, to be able to dial in and get that real-time information is invaluable,” he adds.
It helps, of course, that Segev knows he’s working with a trustworthy product. “Without that trust, we wouldn't be using it,” he says. “We know the people behind Practical Law are producing a first-class product.”
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