For Many Legal Tech Entrepreneurs, Being Acquired Doesn't Mean Leaving the Market
The allure of legal tech's evolution keeps many legal tech founders in the industry long after their company is folded into another.
August 30, 2021 at 09:01 AM
3 minute read
From everyday business and market challenges to convincing typically tech-resistant professionals to change, building a legal tech company isn't an easy journey. So much so that being acquired might be the intended goal, or provide necessary relief from the stress of entrepreneurship.
"It is a tough, rough road, and you have a lot of scars along the way to get to that exit," noted Litera Corp. global head of corporate development Haley Altman. "I think some people get to that point and say, 'I'm done, I don't want to figure that out. I'm ready to be done.' That journey is finished, and they find their passion in another place."
While an M&A might present the perfect opportunity to exit the industry and enjoy the spoils of their hard work, it comes down to the individual as to whether they'll leave the legal tech industry entirely, former and current legal tech CEOs said.
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