AI-run law firm Crosby bids for the name of collapsing Weil Gotshal

An AI-first law firm wants to buy the name of one of Wall Street's best-known law firms. Crosby, which is two years old, has bid for some assets of Weil, Gotshal & Manges, TechCrunch has confirmed. Weil Gotshal told the New York Times it is preparing to vote on dissolving the firm in the coming days.

What Crosby wants

Crosby's bid covers the following, according to the report. It is also working separately to hire some of Weil Gotshal's roughly 1,200 lawyers. The Information reported the offer first.

• Weil Gotshal's trademark
• Its brand
• Some internal data, which has not been specified

Crosby is not a software seller. Companies like Harvey and Legora sell AI tools to existing law firms. Crosby is itself a law firm and uses its own AI to deliver legal services, which it says is faster than was ever possible. It has raised about $85 million, including a $60 million round in March.

Why Weil Gotshal is closing

The New York Times reported that the firm's presumed next leader turned down the job. Several top-producing lawyers left. A hoped-for merger with rival Willkie Farr & Gallagher was shelved. No one has said AI played a part.

What is not known yet

The terms of Crosby's bid were not disclosed, and there is no guarantee it will win. It is also unclear which lawyers might join Crosby. For businesses that hire lawyers, the larger question is whether AI-first firms taking over old names could change how legal work is done and billed.