LTC4 in major overhaul
Legal tech competency company LTC4 has completely overhauled its business model, ditching its annual membership and introducing the ability to pay for learning plans as you go.
Law firms will no longer have to join LTC4 and pay an annual membership or renew their existing membership. Instead, firms who are new to LTC4 can purchase the core competency learning plans individually or in pre-determined packages quickly and easily via an online shop.
They will have to sign LTC4’s license agreement (to protect the IP of LTC4) and then they will be able to download whichever learning plans they require. Whether they are delivering training for system upgrades, rollouts, new starters or simply improving skills across the firm the learning plans are designed to provide workflow-based structures which are relevant and application agnostic.
The cost is based on the size of the firm, measured by the number of employees.
The changes come after many firms questioned the need to renew their membership once they have bought all of the learning plans. The changes were voted through by the board, consisting of Bonnie Beuth from FordHarrison; Rachel Baiden from Squire Patton Boggs; Chloe Parfitt from Burges Salmon; Hannah Vendetti from Shearman & Sterling; and Cory Christmas from Baker Donelson.
Existing member firms will retain their membership and benefits until the renewal date and then will be free to purchase the latest versions of the learning plans and apply for certification as and when required. A team of law firm volunteers is currently working on reviewing three of the core competencies ready for release later this year.
LTC4’s marketing consultant Joanne Humber tells us that the new pricing structure has already achieved very positive results. Membership for vendors and training providers will continue as before. Many law Schools are also working with the core competencies and aligning their digital skills content with the LTC4 Learning Plans, ensuring that their graduates are prepared for the real world of the modern law firm.