WOLTERS KLUWER ACQUIRES STAKE IN ELAWFORUM.
Wolters Kluwer North America (WK; Chicago, IL) has acquired a "substantial" equity position in eLawForum (Washington, D.C.), a provider of private exchanges for corporate legal services. No financial terms of the deal, including the status or size of its owner ship in eLawForum, were given.Under terms of the deal, the two companies have formed a strategic alliance to continue expansion of eLaw Forum in the U.S. and Europe. The two companies said the alliance will allow eLawForum to penetrate more segments of the professional market and will broaden WK's focus on expanding its products via the Internet.
eLawForum services are designed to help lower legal costs, enabling corporations to retain outside counsel through a Web-based, competitive bidding process. Corporate law departments post requests for proposals and invite law firms to respond via eLawForum's auction Web site. The selected law firms compete on the basis of track record, quality and price. eLawForum said it has more than 100 registered corporations and more than 850 law firms from all 50 states and 33 countries.
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| Comment: | WOLTERS KLUWER ACQUIRES STAKE IN ELAWFORUM. |
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| Publication: | Business Publisher |
| Article Type: | Brief Article |
| Geographic Code: | 1USA |
| Date: | May 16, 2001 |
| Words: | 175 |
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