Reading:
An Industry in Transition: Legal Services “Market of the Future”

An Industry in Transition: Legal Services “Market of the Future”

by Amy
4th March 2021

By Nita Sanger, Expert in Residence specialising in Legal Innovation

The legal industry is in a state of transition, with a shift in the demand and supply balance between Law firms and Corporate Legal Departments (CLDs), as the practice of law moves from a lawyer-centric guild to a customer-centric marketplace.

This shift is driven by changing customer requirements, which in addition to legal advice now include the need for superior customer service, increased collaboration with legal advisers, adjacent business services (i.e., legal project management, business analysis), and transparency with matter management and pricing.

The Alternate Legal Service Providers (ALSPs), defined as niche companies that specialize in providing high-demand legal services entered, the market to meet this gap in services and are essentially focused on the “business of law”, leveraging a combination of legal, business and technology capabilities, to augment customer (both corporate and law firm) expertise and improve their efficiency and effectiveness.



0 Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Stories

23rd July 2021

CANLIF 2021 Legal Department Survey & Report

The Canadian Legal Innovation Forum has published its first annual report focusing on measuring innovation in Canadian legal departments.

26th May 2021

What BIGLaw Needs From CRMs In A Changing World

Discover some of the key problems with today's BIGLaw CRM options and how to overcome them.

Arrow-up

Do you need a hand in the right direction?

You are in the right place.

Be one of the first to get a copy of the 2021 Global Legal Business Development Report

Get your hands on this exclusive intel, benchmark your efforts against the industry and pick up a few ideas and strategies from the experts. 

small_c_popup 1

Let's have a chat

See how you can increase Cross-selling and Client retention at your firm