Emily Peterson is a lawyer providing the only legal service that allows clients to compare their legal representation.

At Legal Tender, clients can find the service they need - 
with savings of up to 80%.

Emily, what was the idea that first got the ball rolling?

My parents had a very unfortunate experience with a solicitor in relation to a contested will. They found a lawyer by calling the Law Institute, who provides them with three names and numbers only.

My parents complained that they had no idea how much they would be charged, what skills the lawyer had, how long they had been around, or the reputation of the lawyer.

After some investigation, I realised that there was no service in Australia that helped people to compare lawyers in that way.

What got you excited enough about the idea to put it into motion?

The most exciting thing was there was no service in Australia which allowed lawyers to compete for client’s work and which allowed client’s to compare cost estimates, experience, skill, location and size.  There was an obvious gap in the market for such a service, and as an entrepreneur, I wanted to fill that gap and become a market leader.

Where did the name for your business spring from?

The name “Legal Tender” is a clever play on words. Lawyers “tender” for the work. Legal Tender is also the legal name for money. The website is http://www.legaltender.com.au

How is Legal Tender unique?

It is the only legal service that allows clients to compare estimated costs, experience and so forth to make an informed choice as to legal representation.

Further, because the lawyers are competing for the clients work, prices are driven down. We see client’s saving up to 80% of potential legal fees.

What was the most difficult part in getting your business off the ground?

Initially, getting the website to look and run smoothly. That has taken four long years! Now the big challenge is getting the website out to potential clients. Our target client is SMEs. (Small to Medium Enterprise)

Has any part of your business gone down a different path than you first anticipated?

Yes. Initially I thought that the target client would be those with criminal law, injury matters.

That is no longer our target, and we now choose to focus on business/commercial and family law matters. We find they are more serious about obtaining legal advice.

That said, however, we have hundreds of lawyers to help with any kind of legal issue. 

What do you enjoy most about running your business?

The little successes each day. Eg hearing from a client that we have exceeded their expectations, helping smaller law firms to compete for work they may otherwise not have been exposed to, an article about Legal Tender in the paper, a new potential business alliance.

I also enjoy the constant process of refining the business and making it better and better in response to customer feedback.

Do you belong to any networks that have helped you grow your business?

I am a lawyer, and until June 2008, worked as a corporate litigator at a top tier law firm in Melbourne, Arnold Bloch Leibler. The networks that I created and managed during that time helped me tremendously to have the confidence to approach firms and sell my service.

What are your future goals Legal Tender?

Legal Tender launched in Victoria in June this year. Within a month, we had over 100 Victorian law firms that had registered with our service. Because of that success, we expanded to NSW, and currently have over 200 law firms that are members. I hope to expand Legal Tender nationally within the next year, and for it to be the number one place that clients go to when they need legal advice.

What advice would you give another woman wanting to start a business of her own?

You need to have determination to succeed and persistence. Very few things happen overnight, and it will probably take a number of years before your business starts to kick off. Also, be prepared to constantly refine and evolve your business. Seek out criticism; it is the best form of feedback!