What is an Alternative Legal Service Provider (ALSP)?
Much like any other industry, the legal industry is beholden to the whims of the market forces. This translates into who can offer the best for less. Essentially, people want top-notch service for the lowest price possible. And this is where the legal industry is forced to reckon with the new kid on the block - Alternative Legal Service Provider or ALSP, for short. An ALSP is an organization that can as capably provide legal services as a traditional law firm can, but at a lower price. In the U.S., it is not uncommon for in-house legal departments and presumably bigger law firms to use ALSPs to do the grunt work of supporting litigation and investigation, document review, intellectual property (IP) management, due diligence, and legal project management.
Why are they becoming increasingly relevant?
Given that the goal of an ALSP is to reduce the burden on law firms and in-house teams, it is not much of a surprise that they offer specialized expertise in specific practice areas. And they do so by working in simpatico with technology and project management tools. ALSPs’ ascent into relevance has become not just parallel to the integration of tech into the legal industry but the two constantly overlap. At, Lumose Marketplace, ALSPs and law firms can find a centralized hub that aims to remove the hype surrounding innovative legal tech products and services and provide a direct platform to compare all types of legal software, whether it is client portal, project management, or collaboration tools between two or more parties.
ALSPs’ innovative approach to billing via the flex pay model - getting paid for just the work they are contracted out to do - also makes them an attractive alternative to businesses looking to cut costs. There is a very high emphasis on providing high-quality, value-based, sophisticated legal services to the clients. And they are not limited to business organizations.
Why should solo lawyers and paralegals care about them?
The evolution of ALSPs should concern boutique law firms and paralegal practices. The idea of technological efficiency aiding business and legal work is very much entrenched in how ALSPs operate, often for a fraction of the cost associated with traditional law firm practices. If solo lawyers and paralegals want to continue to grow their business, they should be equipped with the knowledge to do so. And we can help! Our marketplace breaks down each software’s functionality and gives you a clear picture of how it would impact your practice. Rather than rely on the patois of the tech industry, we distil and break down our advice in a succinct and straightforward manner and help you enhance your business in the process. Our ultimate goal is to arm small law firms and paralegals with the knowledge and competencies they need to upskill and grow in their businesses.
