Can a business and corporate law law firm sell its data to AI?

What a business and corporate law firm could license to AI data buyers, what its files hold that must stay out, and which program fits by size.

Last updated 5 sources cited1 min read

Short answer: Possibly, but only a narrow slice. Corporate law files are full of client information that confidentiality rules protect, so the realistic scope is firm-owned operating material. On size, Mode's minimum for legal is 10 employees; micro1 asks for 30+.

On this page
  1. What these files hold
  2. What a firm might consider instead
  3. Third-party NDAs stack on top of Rule 1.6
  4. Size and program fit
  5. Frequently asked questions
  6. Sources

What these files hold

Typical business and corporate law matter files include:

  • Deal documents, cap tables and data-room materials
  • Material nonpublic information about clients
  • Third parties' confidential information received under NDAs
  • Board minutes and governance advice

ABA Model Rule 1.6(a) bars revealing information relating to the representation of a client without informed consent or an exception (Rule 1.6), and Rule 1.9 carries duties to former clients (Rule 1.9). Your state's version is the one that binds you.

What a firm might consider instead

  • Closing checklists and entity-formation workflows
  • Blank agreement templates the firm drafted
  • Conflict-check and matter-intake procedures
  • Business-development records

These are candidates for review with ethics counsel, not a list of approved items.

Third-party NDAs stack on top of Rule 1.6

Transaction files usually include counterparties' information received under NDAs and data-room terms. Those contracts bind the firm or its client separately from ethics rules, so map them before scoping. Information about public-company clients can also be material nonpublic information, which you should keep out entirely.

Size and program fit

Mode lists minimum team sizes of 10+ employees for legal, 15+ for accounting, medical and finance, and 50+ for all other businesses, for companies based in the US, Canada, the UK or Australia with several years of records they own (Mode). micro1 asks for 30+ employees, mostly English data, and says it is prioritizing US companies (micro1). Census doesn't count firms by practice area, so the table shows all U.S. law offices.

Industry (U.S. firms, 2022)All firms10+ staff25+ staff50+ staff100+ staff
Offices of lawyers (NAICS 541110)156,58317,3975,6202,4841,151

Source: U.S. Census Bureau, Statistics of U.S. Businesses 2022, detailed employment sizes. Firms (enterprises) by paid employees; contractors are not counted. Each column sums the Census size classes at or above that size.

This is general information, not legal advice. Talk to your own attorney or compliance advisor before you share or license any records.

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Frequently asked questions

Can we license our own form library?

Firm-drafted templates are usually the safest candidate. Check that no client-specific deal terms remain in them.

Do NDAs we signed for clients matter?

Yes. Counterparty NDAs often restrict disclosure to anyone outside the deal team.

Sources

  1. Mode / BizBuyData referral pagebizbuydata.com
  2. ABA Model Rule 1.6, Confidentiality of Informationamericanbar.org
  3. ABA Model Rule 1.9, Duties to Former Clientsamericanbar.org
  4. U.S. Census Bureau, Statistics of U.S. Businesses 2022, detailed employment sizeswww2.census.gov
  5. micro1 company referral pagemicro1.ai

Referral-fee disclosure: we may be paid by a program if your company signs with it after using this site. General information only, not legal advice.

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