Entrepreneur Spotlight: Titus Rahiri

Transforming the Legal Ecosystem

August 7, 2023

Entrepreneur Spotlight: Titus Rahiri

Transforming the Legal Ecosystem

August 7, 2023

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Meet Titus Rahiri, CEO & Director of KorumLegal, a legal solutions platform company. KorumLegal is not your typical law firm. Their innovative lean law model connects clients and customers to legal solutions through their People, Process + Tech, and Managed Legal Services products. By leveraging a pool of flexible and experienced lawyers who deeply understand clients' businesses and requirements, KorumLegal eliminates the need for conventional law firm structures.

"We aim to provide at least 50% savings compared to traditional legal service providers through our smart and lean approach. Our reach extends across APAC, EMEA, and globally," Titus explains.

The services provided by KorumLegal are specifically designed to simplify the complex and offer cost-effective solutions. Their client base spans from start-ups and SMEs to large multinational corporations and financial institutions.

Services provided by KorumLegal

💡The Genesis of KorumLegal

After years of experience as a corporate and commercial lawyer, Titus became increasingly frustrated with the lack of value exchange and innovation within the traditional legal ecosystem. He observed that legal services were delivered in a manner that was expensive, inaccessible, and unnecessarily complicated. This dissatisfaction became the catalyst for Titus to establish KorumLegal in 2016. Reflecting on his motivation, Titus shares, 

"I was frustrated with the lack of value exchange and innovation in the traditional legal ecosystem and the way legal services were being delivered - it was (and continues to be) expensive, inaccessible and unnecessarily complicated. This was my drive for founding KorumLegal in 2016."

Titus brings a wealth of experience as a corporate and commercial lawyer, having worked in renowned law firms across New Zealand, London, and Hong Kong, where he handled complex global deals. Additionally, he served as counsel at prominent companies like BSkyB and Expedia Inc. Throughout his career, Titus actively supported technology and ecommerce scale-ups, allowing him to gain a deep understanding of the challenges faced by businesses. It was through these experiences that he recognized the need for a more accessible and cost-effective approach to legal services.

Titus acknowledges the evolving landscape of legal support, with various options available to clients, including law firms, alternative legal service providers (ALSPs), NewLaw, and the burgeoning LegalTech and generative AI spaces. He firmly believes that there is ample room for all players to contribute to the legal ecosystem thereby providing clients and customers with a plethora of choice and options. 

The early challenges as a founder

Change is seldom easy, and it was no different for Titus and KorumLegal. The most significant challenge in the early days was shifting mindsets, particularly in Asia, where large law firms dominated the market. But as companies and clients began to face increasing pressure to cut costs, the need to think smart about legal support procurement became more evident. Titus recalls, 

"My biggest challenge was changing or opening mindsets - particularly in Asia - to alternatives available instead of the large law firms. However, as there has been an increasing downward cost pressure for companies and clients, the need to think smart about how you procure your legal support has helped with our story and value proposition."

To overcome this challenge, Titus and his team remained focused on delivering high-quality legal services while adopting a more efficient and cost-effective approach. Their ability to showcase the value they could provide attracted top clients, including global technology companies, international banks, and innovative tech firms. This demonstrated their commitment to smart delivery and established their reputation in the industry with many awards and accolades.

Tackling Current Challenges

Titus acknowledges that the economic and political challenges at a macro level globally, all play a significant role in influencing the business. The landscape is marked by uncertainty and an increasing need for cost control. These challenges have been further accentuated by the impact of COVID-19. However, amidst the difficulties, there have also been some positive outcomes.

The pandemic has served as a catalyst for change, accelerating digital transformation in the legal industry. Titus recognizes that what may have previously taken years to implement is now being accomplished in a matter of months. This acceleration has exposed the inefficiencies in many legal teams and created a demand for innovation.

Furthermore, the way legal teams operate has come under scrutiny, presenting an opportunity for a reset and refresh of legal operating models. KorumLegal has been actively involved in assisting clients in reviewing and optimizing their legal team operations, designing technology roadmaps, and improving efficiency and effectiveness through redesigned operating models.

In addition to the immediate challenges posed by the pandemic, there is a strategic push for transformation, innovation, and a heightened focus on environmental, social, and governance (ESG) responsibility, as well as climate change. As Titus emphasizes, the key lies in execution: 

"If KorumLegal can execute well, we can take advantage of the above as an opportunity to be a part of the supply chain for smart legal services that we can provide through our people, process, and technology pillars."

🚀The Leap of Faith: Launching KorumLegal

Was it a crazy decision to start KorumLegal at 38? Titus believes so, and he's sure friends and family might have thought the same. But the experience has proven rewarding for him and the team. He regards it as a game-changer not only for himself as he explains:  

I'd like to think it has been a game-changer for many including myself, our HQ team over the years, and our hundreds of clients and customers and the large community of 'Korums' who have worked with us for short-term projects or for many years. As with any new and growing business, we've had our ups and downs and some serious stress moments, but it has been extremely rewarding and I look forward to the possibilities in front of us. 

💡Words of Wisdom from Titus

Entrepreneurship is not for the faint-hearted. It demands a commitment level of 120% due to the energy and focus required. It's full of ups and downs and many many failures - but a relentless and resilient outlook will put you in good stead. Oh and make sure you get your legals sorted - spend a bit of money upfront (and you don't need a traditional law firm for this!) to make sure your legal, risk and compliance matrix is set up for future success!

If you enjoyed reading this article, stay tuned for more inspiring stories and valuable insights from experienced entrepreneurs every week. Make sure to follow us on LinkedIn or subscribe to our weekly newsletter to stay updated. Join us on our journey of learning and inspiration! 

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