Law firm profitability is not exactly languishing. Many law firms, especially larger ones, are making very comfortable margins. But law firms are rather like whales: if they stop moving, they sink.
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Legal software maker CLIO surveyed thousands of law firm clients in its Legal Technology: Future Horizons survey. One question asked the clients what was most important to them when choosing a law firm. The majority cited overall cost of services as their primary concern, but ease and responsiveness came in shortly after.
read more In 2017, Thomson Reuters, Georgetown Law Center for the Study of the Legal Profession and the University of Oxford Said Business School partnered in a study on Alternative Legal Services Providers (ALSPs). They reported that 51% of law firms and 60% of corporate legal departments use ALSPs. That number is growing.
read more Law firms today are run more like corporations than partnerships. They are all looking to improve operations and position the firm more competitively for the future. To achieve this, law firms are turning to outsourcing some administrative functions.
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