Entrepreneurs Are Attracting Major Cash to Draw Legal Services Away from Law Firms

September 3, 2010 By Editor Leave a Comment

Source: ABA Journal Top Stories
A new class of lawyer-entrepreneurs in U.S. legal services is attracting hundreds of millions of dollars from global investors, even while traditional law firms are forced to cut back. These risk-takers speak a language investors understand. Rather than profits per partner, they talk about market share and return on invested capital. They converse as easily about finance, technology and management as finer points of law. And their enterprises produce steady returns even when unemployment soars and stock markets tank. Some drive down costs by automating routine legal tasks. Others assemble dedicated teams of lawyers for in-house legal departments to draft…
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