The delivery of legal services is changing. Author Mark Cohen writes in “Big Money is Betting on Legal Industry Transformation” that law is a trillion dollar market with no Goliaths. The industry is fragmented and ripe for transformation. Law firms are becoming a smaller segment of the legal supply chain.
Cohen predicts that “the hegemony of the traditional law firms is over.” He explains that “law firms have lost their hegemony over legal delivery. Their market share is eroding.” New legal providers are entering the market. These different providers include, in-house legal departments, accounting firms, technology start-ups, and . . . [more]