AI law firm Crosby bids for the Weil Gotshal brand and data

Crosby is a new law firm that uses AI to give legal services to clients. It bid to buy some assets of Weil Gotshal, a known Wall Street law firm that prepares to dissolve in the next days. The assets include the trademark, the brand and some internal data, and the terms of the bid are not given.

What Crosby wants

Crosby wants the name, the brand and some data, and it works to hire some of the lawyers. Crosby does not sell its AI to other firms, as Harvey and Legora do. It is a law firm, and it says that its AI gives a speed not possible before.

The numbers

Crosby raised about $85 million, and $60 million of it came in March. Weil Gotshal has 1,200 lawyers. Crosby gave no test results for its speed claim, and it is not sure that Crosby gets the assets.

What is not known

The New York Times reports the causes. The next leader that the firm wanted refused the position, top lawyers left, and a merger with a different firm was stopped. No one says that legal AI caused the fall.

Insight: An AI firm bids for a name and people, not for code

Crosby bids for a brand, data and lawyers, not for software. The Financial Times reports that Anthropic speaks to law firms on how AI agents must negotiate for a user. This reads as AI firms that want a known name and personnel that clients know, not code that a different firm can copy. Monitor if Crosby gets the assets and hires the lawyers.