Law firms were urged Wednesday to explore opportunities the global economy is creating for the legal profession, but to be wary that sending legal services offshore can cost more money in different ways.

“Whether you think it’s a good thing or a bad thing, it’s here,” Laurel S. Terry, professor at Penn State University’s Dickinson School of Law, told the President’s Summit at the New York State Bar Association’s annual meeting. “Part of what it means is the change in technology … and all these other changes, you’ve got people all around the world who are competing for [legal] jobs. It’s not just people in your state or city.”