Legal is a $1.1 trillion market and you cannot simply buy your way into it. In most of the United States, non-lawyers are not allowed to own a law firm, and that includes the venture funds behind every company in this story.
Google Cloud launched Gemini Enterprise for Legal, with Cleary Gottlieb, Freshfields, Weil and Williams & Connolly as its first firms. Google shipped a financial services version the same afternoon and says healthcare is next, so treat this as a template rather than a legal story.
For decades, every services business has been told the same thing. You cannot scale like software. Your revenue is chained to your headcount. Your margins top out around 30% on a good day. Sell for a low multiple, if you can sell at all. That just stopped being true.
Today the answer has two parts: hours and a share of each year's profits. Both of these are now under pressure coming from the same direction.