P2P

65 I L T A N E T . O R G T he legal industry is grappling with unprecedented new dynamics. A rising demand for legal services of all kinds and a critical shortage of talent has corporations increasingly turning away from their traditional services providers. Instead, they are seeking smaller law firms and alternative legal services service providers (ALSPs) who can provide better value, lower costs, and improved service levels. These providers represent a more agile, higher level of service-based economy—one based on creativity, a deep understanding of client needs, and a true representation of client value. We can assume reputable legal services providers— regardless of whether they are a law firm or an ALSP—will adhere to high professional standards and work hard to achieve the best possible outcomes for their clients. But knowing exactly how they do this and what it costs has become a high priority for their clients. Consumers of legal services now expect faster, more human, and more innovative interactions with their legal providers. They also know that, if needed, they can find what the value they're looking for elsewhere because of the healthy competition that now exists within the legal ecosystem. ALSPs—either borne out of law firms or created on their own, specializing in services that support law firms and in-house legal departments—are now an increasingly vital element of the legal landscape. They provide specialized legal services and technology expertise, often at lower costs than traditional law firms. But law firms and corporate clients are also turning to ALSPs for help on a more extensive range of services, which in addition to eDiscovery now include areas like compliance, investigations, forensics, privacy, and regulatory and antitrust matters. Working with trusted ALSPs on a broad spectrum of engagements has enabled in-house legal teams and outside counsel alike to improve their cost-efficiency and focus on priority work. This dynamic has transformed the way that the legal industry thinks about the practice of law. It has also freed clients from the rigid structures and billing practices of traditional law firms and exposed them to legal organizations for whom innovation is a founding principle, and for whom communication and collaboration are integral elements of their business strategies. This is a far cry from the traditional lawyer-client relationship, wherein—as the unchallenged and only providers of legal services—law firms dictated every aspect of their engagement and billed clients by the hour rather than the value of the deliverable. Also at odds with this new culture of collaboration is the legal education system. Lawyers typically are trained to be insular, risk-averse, and precedent-dependent rather than multidisciplinary, "Consumers of legal services now expect faster, more human, and more innovative interactions with their legal providers."

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