The Alternative Legal Service Providers Market in US to Reach Revenues of Around $19 Billion During the Period 2020 −2025 – Market Research by Arizton

By John Freund |

CHICAGOFeb. 6, 2020 /PRNewswire/ — According to Arizton‘s recent research report, Alternative Legal Service Providers Market in US – Industry Outlook and Forecast 2020-2025 is expected to grow at a CAGR of over 23% during the period 2019−2025.

Key Highlights Offered in the Report: 

  • The identity of the US legal industry is being refreshed and turbocharged in ways never seen before, with alternative legal service providers at the heart of all this action. The disaggregation of legal services is underway, not driven by players in the industry, but by clients.
  • On average, many legal businesses and in-house legal teams are pouring in significant work and time on low-value tasks across legal functions. They are struggling to utilize talent efficiently. As this realization is increasingly dawning on those working in legal departments, they are juggling the demand from the management to operate with the same speed and efficiency as the overall enterprise.
  • Organizations are increasingly implementing effective preventative and support measures, thus driving demand for litigation and investigation support.
  • There is a resistance among both corporations and law firms by not altering their models to fully engage alternative legal service providers, thereby driving inefficiencies in the market.
  • While alternative legal service providers have a lot to offer, they have a scattered approach when it comes to listening to client goals and concerns and communicating how they can help in maneuvering business challenges.
  • Quite a few law firms use the services of alternative legal service providers via partnerships and securing aid to suitably provide services in spaces of legal research, litigation, e-discovery, and document review among others, which they traditionally offered themselves.

Key Offerings:

  • Market Size & Forecast by Revenue | 2019−2025
  • Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
  • Market Segmentation – A detailed analysis by products, services, end-user, and geography
  • Competitive Landscape – Profile of 4 key vendors and 20 other vendors

Get your sample today! https://www.arizton.com/market-reports/alternative-legal-service-providers-market-united-states

Alternative Legal Service Providers Market in US – Segmentation

  • New Law firms have been the most disruptive players in the market, accounting for major volumes of work in the document review and litigation spheres. There is a growing trend of building strong SLAs and utilization of performance metrics.
  • As several organizations predict an uptick in litigations, the market for litigation and investigation support is expected to grow. Businesses that venture into international trades are being threatened by trade wars, as a result, the environment is likely to be increasingly litigious.
  • A shift in focus from brand status and services to efficacy, thereby providing high viability on investments. The demand for document review and legal research continues to grow significantly. In an age where customer-centricity and differentiation are vital, several players are increasingly examining cost-benefit trade-offs.

Market Segmentation by Providers

  • New Law Companies
  • Captive LPOs
  • Staffing/Recruiting and Contract Lawyer Companies
  • Others

Market Segmentation by Services

  • eDiscovery
  • Investigation and Litigation Support
  • Contract Management
  • Document Review and Coding
  • Legal Research
  • Regulatory Risk and Compliance
  • Others
  • Urban

Market Segmentation by End-users 

  • Law Firms
  • Corporations

Alternative Legal Service Providers Market in US – Dynamics

Companies in the US have, for quite long, had a higher proportion of legal spending than other countries in the rest of the world. Companies in the country spend 170% more on these services when pitted against global companies with banking, real estate, and technology topping the list of spends by industry. The high spends are attributed to the fact that the US has a heavier litigious climate. Apart from that, it is characterized by widely varying laws and complexities in every state driving up volumes in terms of legal advice required. Further, the pay of legal practitioners also tends to be higher in the country with expensive billable hours, demonstrating demand. Another indicator of the growth of the legal industry is the reversal of the decline of legal employment and law school applications in 2018, post years of flat or deteriorating levels.

Key Drivers and Trends fueling Market Growth:

  • Prevalence of Dissatisfaction with Law Firms
  • Legal Departments in Overdrive
  • Focus Shifts to Delivery
  • Blurring Lines Between Traditional and Alternative

Get your sample today! https://www.arizton.com/market-reports/alternative-legal-service-providers-market-united-states

Major Vendors

  • Allen & Overy
  • Axiom
  • Elevate
  • UnitedLex

Other vendors include – BlackStone Discovery, Clifford Chance, Consilio, Driven, Epiq, Everlaw, Exigent, Greenberg Traurig, Integreon, KLDiscovery, LegalZoom, Lawyers on Demand (LoD), Mindcrest, Reed Smith, Legility, Lumen Legal, Morae Global, Orrick, QuisLex, and Thomson Reuters.

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Legal-Bay Legal Funding Announces Dedication to Focus on Securities Fraud and FINRA Arbitrations

By John Freund |

Legal-Bay LLC, The Lawsuit Pre Settlement Funding Company, announced today its focus on funding Securities Fraud and FINRA Arbitration cases for the remainder of 2024 and beyond. The legal funding firm has noticed a major deficiency in the legal funding sphere for specialized funding options for Securities Fraud cases and FINRA arbitrations, as these are some of the toughest cases to approve and understand within legal funding.

However, with two decades of experience in funding complex cases of all natures with creative yet straightforward funding solutions, Legal-Bay is widely recognized throughout the lawsuit funding industry as one of the "best lawsuit loan companies" or "go-to funder" for securities fraud cases and FINRA arbitrations against major brokerage firms.

Whether you are a plaintiff that lost a good majority of assets or a law firm looking for case costs to fight a large brokerage firm, or someone who lost assets due to fraud and needs money now, Legal-Bay can help you. Please visit our website geared specifically toward these types of cases, at: https://lawsuitssettlementfunding.com/securities-fraud.php 

Legal-Bay's team of experts and underwriting department can quickly evaluate the validity of your claim(s) and potential case value and provide you with the capital you need to see your case through. Too often, plaintiffs or lawyers simply cannot wait all the years these complex fraud cases can drag out without obtaining some sort of large cash advance in the meantime.

It is for this reason that Legal-Bay has committed extensive capital to funding plaintiffs and law firms that find themselves in dire financial situations due to instances of securities fraud. To learn more, feel free to call Legal-Bay today to speak with one of our courteous and knowledgeable staff, at: 877.571.0405.

Chris Janish, CEO, commented, "Securities or stock brokerage fraud cases are some of the most difficult in the legal finance industry to evaluate and fund. It is without question that our firm is one of the few niche funders in this space that has the expertise to evaluate your FINRA arbitration case quickly and accurately for settlement value and for needed cash advance approval."

To apply right now for your Securities Fraud pre-settlement cash advance or FINRA arbitration settlement cash advance, please visit Legal-Bay's page dedicated solely to these types of cases, at: https://lawsuitssettlementfunding.com/securities-fraud.php 

You don't have to wait for the money you deserve. Clients only have to pay back the Securities Fraud advance or FINRA Arbitration case loan if and when they win their case, meaning the money is risk-free. All you need in order to apply for the quick and immediate cash relief—typically provided within 24-48 hours following approval—is a lawyer. Even if you don't yet have a lawyer, Legal-Bay can help you with that too, as Legal-Bay works with the country's top Securities Fraud attorneys who will fight for you to ensure you receive the compensation you deserve.

Legal-Bay is a leader in personal injury lawsuit loans or commercial litigation settlement loans, as commonly referred to by plaintiffs. Although referred to as loans for settlements, the legal funding advances are not pre settlement loans at all, as they only need to be paid back if your case is won. FINRA arbitrations are considered commercial settlement funding and most typical litigation funding firms do not even consider these cases, however, Legal-Bay is happy to freely evaluate your case for funding. Funds can be used for personal use or for paying for expert witnesses or trial costs prior to an arbitration hearing.

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Geradin Partners Opens Paris Office with the Hire of Partner Marc Barennes

By John Freund |

After opening offices in Brussels in 2015, London in 2021, and Amsterdam in 2023, Geradin Partners continues its European expansion with the launch today of its Paris office with the hires of former EU official and competition litigator Marc Barennes and his team. 

Founding partner, Damien Geradin comments: 

“We’re delighted that Marc accepted our offer to open our Paris office. France is a key jurisdiction in Europe, and Marc and his team will help us achieve three goals. First, it allows us to bolster our competition and digital regulation practice. The Paris office will allow us to better serve our clients in France, in particular those in need of strategic advice regarding the DMA (Digital Markets Act), DSA (Digital Services Act) and EU competition law. It will also assist our international clients in interactions with the French competition authority. Second, given his unique experience within the competition authorities and courts, Marc adds further strength to our ability to pursue high-stakes appeals and interventions in relation to competition authority decisions at the French and European levels. Third, Geradin Partners has brought major private actions in the courts, in particular against large tech firms in the United Kingdom and the Netherlands, while Marc has been a frontrunner in bringing collective actions in France. With Marc onboard, we will offer a choice between bringing a competition and DMA actions before the Dutch, English or French Courts, depending on which is best for each client”. 

Marc Barennes is a competition litigator with 20-plus years of experience. With over 15 years at the European Commission and the Court of Justice of the European Union, he brings unique expertise in competition law. During his time with European institutions, he was directly involved in more than 350 cases, including more than 70 of the most complex and high-profile European cartel, abuse of dominance, merger and State aid cases. Before joining Geradin Partners, Marc also gained experience over the past five years of damages actions through his role as Executive Director of a leading claim aggregator, and co-founding partner of the first French claimant firm specialized in class actions. Marc has also been a Lecturer at French School of Law, Sciences Po Paris since 2014 and has been a non-governmental advisor to the European Commission and/or the French and Luxembourgish competition authorities for the International Competition Network (ICN) since 2012. He is a member of both the Paris and New York bars. 

Marc Barennes added: 

“I’m honoured and delighted to join Geradin Partners and launch its Paris office. In only a few years, Geradin Partners has become the go-to European firm for all complex competition and digital regulation cases. It now comprises an exceptional team of 20 competition and digital regulation specialists, including five senior former competition agency officials, who work seamlessly on French, EU and UK high-stake cases. The many cases it has already successfully brought against large tech firms before the French, English and EU competition authorities and courts as well as the multi-billion damages claims it has filed against them in the Netherlands and England are a testament to its expertise and its innovative approach to complex competition issues, especially in the digital space. I look forward to assisting French companies both in benefiting from those damage actions and in their most complex cases before the French and EU competition authorities and courts. Our ambition is to expand the Paris office rapidly: applications at the partner and senior associate levels are welcome”. 

About Geradin Partners

Geradin Partners was founded by competition and digital regulation expert Damien Geradin, who has spent the past 25 years working as an attorney, while combining this with an academic career. With a team of seven partners and a total of 20 competition experts based in Paris, Brussels, London and Amsterdam, Geradin Partners is the first European boutique to offer seamless competition law and digital regulation services in major cases throughout the EU and the UK. It is recognized by its clients and peers for its commitment to excellence, as well as for its innovative and strategic approach. 

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Launch of New Subsidiary, Orington & Partners

By John Freund |

Orington Capital (“OC”), today launched an international, Australian headquartered subsidiary, Orington & Partners (“O&P”). O&P specialises in management consulting, legal and dispute financing advisory, restructuring and corporate advisory mandates across the globe including Australia, the United States, India, UAE, Singapore, and the United Kingdom. In addition, O&P provides investment banking and capital raising services in India.

O&P has been founded by entrepreneurs and corporate professionals combining vibrancy and rigour.  The firm prides itself on being new-age that understands how rapidly changing technology impacts businesses. O&P’s target market are mid-market businesses that are seeking a collaboration-first, solutions approach. As a result we are flexible with how we package our solutions to tailor to each business's needs and financial position. 

The firm is led by Kashish Grover, Managing Partner and CEO, and supported by Orington Capital which provides broad global expertise in owning and investing in various businesses/assets, a larger footprint and access to its investment balance sheet in which few professional service firms are fortunate enough to gain access to.

“I’m extremely excited to be joining Orington & Partners as a Founding Partner, in which we look to provide to an underserved mid-market a breadth of exceptional strategy, transactions and legal finance advisory services, unrivalled by any other in the market. Additionally, our experience combines international best practices with new-age thinking understanding that technology continues to evolve and change the business landscape. ” Mr Grover expressed.

Wei-Khing Seow (Executive Chair of O&P and Managing Director of OC) commented: “We are fortunate to bring on board such an amazing talent and leader in Kashish. He brings a truly exceptional combination of integrity, passion for listening and learning, as well as an unparalleled level of pragmatic smarts.

O&P is positioned to service clients uniquely as a one-stop shop that can help your business grow and improve, whether it be organically and/or inorganically. Lastly, we will help your business create value and monetise legal assets that few other firms in the world can do.”

Please see Orington & Partners' website for a list of specific services and jurisdictions we provide services to. We welcome both direct enquiries and referrals.

About Orington & Partners

Orington & Partners is an Australia headquartered, international firm specialising in management consulting, legal and dispute financing advisory, restructuring and corporate advisory mandates across the globe including Australia, the United States, India, UAE, Singapore, and the United Kingdom. We also provide investment banking and capital raising services in India.  Visit orington.com/orington--partners for further details.

About Orington Capital

Orington Capital is an Australian family owned and operated investment firm. Established in 2021. Its business holdings and activities originated in Australia but are increasingly international. Uniquely, Orington invests holistically and unconstrained across the entire capital and investment structure in both private and public markets. Orington provides bespoke capital and can attach dedicated business support service solutions to its investments and portfolio companies.  ACN: 664 474 640. Visit orington.com for further details.

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