Financially Legal

In Support of Civil Rights

Posted by Jose J Garcia on July 8, 2020
Jose J Garcia

In times like these we tend to turn to philosophers, poets, musicians, writers and artists for comfort and direction - wise minds that always have an answer for the trickiest of situations and the most uncertain of times. More specifically, Bob Dylan's "The Time They Are A-Changin'" seems more relevant now than ever.

Your old road is rapidly agin'

Please get out of the new one

If you can't lend your hand

For the times they are a-changin'

We at Gravity Legal, while in full support of racial equity and civil rights, have taken a moment to reflect on what we could do to make a meaningful impact. We feel that stating our support accomplishes far less than action. Epictetus stated, "Don't explain your philosophy. Embody it." 

The 2019 Clio Trends Report showed that the realization rate of most civil rights firms, those protecting the rights of everyday folks, is only 14%. That means these firms only bill for 14% of the work they actually do for a client. Additionally, civil rights lawyers have one of the lowest collection rates of all practice areas at 82%. This means that after taking an 85% discount on their work before it even gets to the bill, they take another discount of nearly 20% in the process of collecting payment.

Credit card processing is not the first thing someone typically thinks about when considering social change or impact, but getting paid is a central part of running a practice. Studies have shown time and again that businesses (including law firms) that accept electronic payments get paid faster and collect more of what they bill. Getting paid in full and in a timely manner can be the difference between failing and surviving, and surviving and thriving.

Now more than ever, our country needs civil rights lawyers. A massive spotlight has been shone on gross inequities, both longstanding and systemic. As a business we are uniquely positioned to ease the burdens of those on the front lines of the fight for equality.

That's why we are extending an offer to civil rights law firms for $50,000 of free credit card processing. The data shows that protecting civil rights comes with unique financial challenges. We can't fix that, but we can lighten the load. We hope this eases the worry of having to pay fees to accept payments and allows those firms to use that emotional capital on their clients and law firm.

If your firm focuses primarily on civil rights, or you know a firm that does and would like to nominate them, click on the link below. 

Nominate a Firm

In an effort to bring additional attention to attorneys working to address systemic racism in our society, this week's episode of the Gravity Legal podcast, Financially Legal, features two amazing women civil rights attorneys in California. Cynthia Chandler and Geri Green have been fighting for marginalized populations for decades and provide some amazing insights on how lawyers can contribute to this important work. Listen here Episode 10: Cynthia Chandler and Geri Green.

Thank you from all of us at Gravity Legal. 

Topics: Credit Card Fees, Civil Rights

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Decoding the Finance of Law

Financially Legal is a twice-monthly podcast on the finance and economics of entrepreneurial law firms and lawyering. Host Dan Lear talks with law firm leaders, academics, business professionals (both in and outside of law) and thought leaders to provide compelling and provocative content at the intersection of finance, economics, and law.

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