The legal industry has changed rapidly over the past twenty years. Studies such as Greentarget’s 2018 Legal Industry Outlook suggest that firms are struggling with a flat demand for legal services. Regardless of their size or geographic presence, firms are faced with higher expenses driven by technology advances, increased client sophistication, and the corresponding challenges of increased security (of documents and communications) needs.

Rate pressure from clients and the competition to provide services that were formerly within the exclusive domain of the practicing attorney are simultaneously stunting revenue growth. The reality of an aging attorney population, low law school graduate rates, and increasing competition from alternative legal providers means that the race to acquire legal talent with books of business is getting more urgent and increasingly competitive.

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