Ron Friedmann, LAC Group Chief Knowledge & Information Officer, was asked to comment on Big Law’s newest service offerings, which has been gathering both doubters and believers.
In an article published July 1st on Bloomberg Law’s Big Law Business, “Big Law’s Summer Job Is Launching ‘New Law’ Competitors”, reporter Roy Strom details how large law firms are responding to growing ‘new law’ competition by launching new offerings focused on higher-volume and lower-cost services. These law firms hope to gain market share in the $11 billion alternative legal service provider (ALSP) market through these offerings.
Ron Friedmann points out that law firms have been responding to market needs for the last decade and will continue to react, stating
“The one thing you can conclude is if law firms see bigger threats or bigger opportunities, they will respond.”