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Editor's Note: This story is adapted from ALM's Mid-Market Report. For more business of law coverage exclusively geared toward midsize firms, sign up for a free trial subscription to ALM's new weekly newsletter, The Mid-Market Report.

As non-law firms become increasingly bullish about providing services traditionally provided by lawyers, now is not the time for complacency in the legal mid-market.

Midsize law firms are not in an outright panic about the Big Four and other accounting firms—they represent just another competitor, firm leaders said. Still, they said, the increasing competition from these service providers is nothing to take lightly.