Episode 12: Jae Um on the New Normal for Law Firms & Calling BS on "Because Lawyers..."
Technically Legal - A Legal Technology and Innovation Podcast
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The New Normal for Law Firms Serving Corporate Clients
This chapter discusses the challenges faced by law firms in the new normal, including shrinking legal budgets, insourcing by clients, and competition from alternative legal service providers. It explores the strategies employed by law firms to acquire new revenue, such as lateral hiring and merger talks. Despite the changing landscape, the demand for outside counsel remains due to the unpredictable nature of legal needs.
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