While it has been said that the wheels of justice turn slowly but grind exceedingly fine, the process may now be accelerating in the procurement of legal services. In Part 1 of this series, we discussed how monolithic, traditional BigLaw firms are being challenged by disruptive economic forces, the ascendance of legal procurement in enterprises and, last but not least, the growth in a broad range of alternative legal services providers.
According to a recent ALM Intelligence survey, 66% of law firm leaders said they were “somewhat to very concerned” about alternative legal services providers and accounting firms encroaching on their business. Indeed, BigLaw firms are waking up and pinching themselves, but the nightmare is continuing.