Myth vs. Truth: ALSPs are Competitors to Traditional Law Firms!?

Are ALSPs?competitors to traditional law firms!?

THE VERDICT: MYTH!! Okay, its mostly MYTH and partially TRUTH.

Partially true, because whenever there is a new service provider entering the legal services industry it will always have a degree of disruptive and competitive effect. Mostly this a myth.?Here are some of the key differences between ALSP's and traditional law firms:

1. ALSPs?provide a different and more nuanced service. In fact,?ALSPs?offer their services both to traditional law firms and legal departments.?
2. ALSPs?are less concerned with substantive law and more concerned with legal processes and legal technology to make the delivery of services more efficient and cost friendly. For example, a GC will approach a traditional law firm to provide an opinion on the impacts of a new?ESG?regulation and will approach an?ALSP?to put in place an efficient compliance system to respond to that new regulation.

Conclusion?

The big takeaway is that when legal departments and GCs plan their legal spend budget, it should not be a case of either going with a traditional law firm or an?ALSP?– it should be a question of planning how to best use both and optimize the services they provide.

Any more questions, don't hestitate to ask.

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About the Author:

Hi, my name is Methembeni Moyo?and I serve as Legal Associate for Exigent-Group.com. I am deeply passionate and invested in helping legal departments and law firms transform the way they do business. For more insights on ALSPs, follow me on LinkedIn.