Modio has a recurring revenue business model and 90% profit margins.
We have conducted extensive beta trials testing a product we have developed for regular use by attorneys. Among those who tested the product, were attorneys holding associate, counsel and partner positions with 14 of the AmLaw 100, as well as in-house counsel with 3 Fortune 500 companies. The attorneys who participated in the trials specialized in a broad range of practice areas including Antitrust Law, Bankruptcy, Class Action Litigation, Government Contracts, Intellectual Property, International Trade, Labor & Employment, Mergers & Acquisitions, Securities Law and Tax.
Ultimately, the trials have been very successful with the product testing strongly for being highly innovative, something that attorneys would find quite useful and use on an ongoing basis, something they would refer to other attorneys at their firm and something that would have broad application to many areas of practice.