Breaking Tradition: How New Law is Challenging Big Law
As clients adapt the way they source and purchase legal services, competition and collaboration among new and traditional providers is increasing. In the decade since the Great Recession, when alternative options really came onto the scene with the promise of offering a better way, the numbers and types of providers have exploded. Over the next year, we aim to bring clarity around who those alternative providers are, what they are offering, who they are representing, where they get their talent and what piece of the market they have and could attain. You\'ll meet the players, hear from clients, see examples of collaboration, learn the offerings and gain clarity into this rapidly growing segment of the legal services market.
Law Firms Must Learn How to Collaborate With ALSPs—Clients Are Waiting
“Law firms have to stop seeing things through their own prism—what’s good for us. Instead they need to look for what is in the best interest of the clients,” says one former firm managing partner. And increasingly, that means collaborating with outside service providers.
Lucy Bassli, a former assistant general counsel at Microsoft, recounted the in-house counsel’s wish list earlier this year at Legalweek NY. It boiled down to a holistic offering that blends legal, tech and project management skills. And it was a cocktail she didn’t want to have to mix on her own.
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