Something that we’ve been saying for years.
Technology is eventually allowing firms, govt and anybody else to compete on a level playing field in the legal publishing space.
Although it’s not going to be level especially in terms of IP.
The publishers have stripped themselves of authors, editors, publishers …actually anybody who has a clue about publishing so in reality it’s the firms with dedicated research teams and lawyers who place value in intellect and organisation who could well win out in the space
New Research from Outsell Shows Legal Publishers’ Biggest Customers will Become Their Competitors
http://www.outsellinc.com/press/press_releases_/1310
Report examines how law firms are launching online information platforms to deliver legal services in more accessible and affordable ways.
Burlingame, CA and London, UK – June 1, 2015 – Outsell, Inc., the leading strategic advisory firm focused on the convergence of media, information and technology, today announced the publication of a new report, Information as a Legal Service. The report identifies a new legal services delivery model that enables law firms to provide commoditized legal information to clients via online information platforms.
In recent years, market pressures have forced law firms to cut their legal fees to the point where low-level work has become unprofitable for some legal services providers, especially for large law firms with high costs. Law firms have realized for some time that they need to find ways to deliver commoditized legal services, but have struggled to implement the technological and cultural changes necessary to do this in practice.
This report looks at early adopter law firms that are successfully implementing what Outsell has termed the “information as a legal service’ (IAALS) model. The report finds that while this market is still in its infancy, it is projected to grow around 15% per year over the next three years, and in the process will potentially take market share from legal information solutions providers (i.e., legal publishers).
“Law firms are being squeezed from all sides; corporate clients are moving work in-house, consumers are turning to self-help providers such as LegalZoom, governments are cutting legal aid, and legal process outsourcing providers are driving down fees. At the same time, clients are realizing that much of their legal needs can be met with low-cost information instead of expensive in-person advice. Information as a legal service is a new legal services delivery model that is profitable, scalable, and relatively easy to implement,” says Hugh Logue, Outsell’s Senior Market Analyst for Legal and author of the report.
“A few innovative law firms have launched information services, but with hundreds of law firms worldwide predicted to follow behind, existing legal information solutions providers will face huge disruption over the next five years.”
A central recommendation in Outsell’s report is that law firms need to instill a data mindset and continually question what other types of data and information can help address their clients’ knowledge gaps. In addition, it considers how legal information solutions providers can support law firms by developing new client-facing information platforms.
For media inquiries, please contact Derek Beckwith, Warner Communications, at [email protected], or call +1 978-922-0818.
For more information about this report, please contact Srini Gomatam at [email protected], or call +1 650-342-6060.
About Outsell, Inc.
Outsell, Inc. is the only research and advisory firm focused solely on media, information, and technology. We use a time-tested, quality-proven, top-secret blend of data, brains, community, and pizzazz to produce extraordinary value for our clients. Elite information industry executives from all over the world look to Outsell for trusted advice, bold insights, and confidential access to exclusive intelligence and decision support. Outsell has your back. You’ll stay more focused, save time, grow revenue in a fast-changing digital environment, and sleep better at night. Guaranteed.
