While traditional law firms may believe that technology and non-traditional legal companies are the biggest competitive threats, none – not even all of the world’s legal technology companies and alternative legal service providers combined – come close to the continuing advancements being made into the global legal services market by the big four professional services firms.
An overarching theme of the conference was that smart law firms must act quickly to adopt ALSPs into their businesses and client dealings. While ALSPs aren’t new, in-house lawyers I spoke with in Atlanta want an ALSP as part of their legal service team and expect full co-operation and collaboration between themselves and every legal entity that serves them.
Definitive legal market positioning leads to an authoritative brand.
Being everything to everyone means you’re nothing to no one. This is why your legal market position is critical to surviving while your brand is key to thriving.