In this FRONT piece, Joe Calve, Editor and Co-Founder of CCBJ shares his thoughts on the 2023 edition of the biennial report on Alternative Legal Services Providers published by Thomson Reuters with the Center on Ethics and the Legal Profession at Georgetown Law and the Saïd Business School at the University of Oxford.
We’re going to have to lose the pejorative “alternative” label if this keeps up. And Thomson Reuters Institute is betting it will. That’s the money shot from the 2023 edition of the biennial report on Alternative Legal Services Providers published by TR with the Center on Ethics and the Legal Profession at Georgetown Law and the Saïd Business School at the University of Oxford. The market is growing “exponentially” and making “great in-roads” with corporate legal departments and law firms. “The market for alternative legal services providers is showing itself to be a highly dynamic part of the overall legal ecosystem and one that is growing at an increasing rate as it forges new paths to serving both traditional law firms and corporate law departments,” says the report, which pegs the sector at $20.6 billion and accelerating. “ALSPs are demonstrating value in helping law firms identify and implement the right technology solutions as well as providing training and support,” says Michael Abbott, head of the TR Institute. “The ALSP market increasingly includes software companies and providers of comprehensive legal technologies.” Maybe MLSPs – Mainstream Legal Services Providers is more like.
Published March 24, 2023.
