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

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 manage-ment, 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 aug-ment customer (both corporate and law firm) expertise and improve their efficiency and effectiveness.

Nita is the CEO of Idea Innovate Consulting with 20+ years of experience transforming businesses for growth at financial, professional, and legal services corporations.
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