Historically, corporations had larger budgets for retained counsel. However, the 2008 crisis resulted in corporations scrutinizing the cost of outsourced legal work. While the broader economy has largely recovered from the downturn, law firms are compelled to efficiently deliver value while remaining profitable. Factors including increasing globalization, the rise of alternative legal service providers, and exponential growth of in-house counsel have law firms adopting technology that provides them with a competitive edge.
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