Why More Law Firms Are Tapping Into New Revenue Sources

By Aebra Coe (August 13, 2019, 4:03 PM EDT) -- Whether it's Eversheds Sutherland's alternative legal service provider, Chapman and Cutler's sale of internally built technology, Dentons' legal tech advisory, or Allen & Overy's contract lawyer business, law firms are increasingly tapping into new revenue sources on top of offering legal advice.

BigLaw firms' plunge into ancillary services and new businesses started as a trickle in previous decades and has become increasingly common in today's legal sector, where competition from recent market entrants is intensifying.

The Big Four have opened up law firms in Europe and are inching their way into the U.S. legal market via acquisitions and joint ventures, and...

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