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And captive law firms’ offerings at $480 million (3.4%).

Independent ALSP’s, with $12 billion in revenue (86%).Since the reporting began in 2015, independent (“purpose built”) ALSP’s have grown by over 70% and the entire market now brings in $14 billion annually: Thomson Reuters’ third biennial survey of the sector is just out. Coverage of their doings is everywhere you look, ranging from the breathless “Did you see how much money XYZ firm scored in its latest round?” to just-the-facts recaps of startups, mergers, and the acquisitions. who might not be regular readers of Forum.ĪLSP’shave become the Talk of Law Town. Now that they have had it exclusively for a suitable grace period, we reproduce it below for readers of Adam Smith, Esq. This is our original unedited version of an article which our friends at Thomson Reuters’ Forum magazine were kind enough to print in the current issue.