Article by Stanislav Roth. This article was originally published in Inside Small Business
The recent release of the annual ‘Legal Market Pulse’ by the Commonwealth Bank confirms that terms such as NewLaw and ‘alternative business models’ (ABM) firms are now firmly entrenched in the lexicon of not just the legal industry, but the broader business sector as well. As early as 2010, businesses have been voting with their budgets by flocking to ABM law firms for legal support. It’s clear that increasingly, people don’t want to pay for the clock ticking on a lawyer’s desk.