The Alternate Legal Services Provider (ALSP) sector, more colorfully known as ‘NewLaw’, has in the space of a few short years emerged from relative obscurity to become a leading force in the global legal market by challenging well-entrenched norms.
The ALSP sector, despite having roots stretching back decades, has only in the last few years through a combination of talent, tech and adaptability become a widely accepted alternative to the traditional law firm model.
A recently released Thomson Reuters report revealed that 51% of law firms and 60% of in-house legal departments already use an ALSP in some capacity.
In 2016, the ALSP market equalled $8.4 billion, and has continued to experience strong growth globally. Understandably, there has been an increasing awareness among law firms of the need to adapt.
Hot on their heels are the well-funded Big 4 accounting firms with their own legal divisions.
In this increasingly dynamic environment a relatively new entrant, Lawflex from Israel, is entering the market and shaking things up.
Known as the ‘Startup Nation’ and a high-tech leader, Israel is also regarded by those in the know as a legal center of the highest quality.
Israel is a unique market where top legal talent from across the globe relocate to, and who together with a wealth of talented homegrown lawyers, work on some of the largest, cutting edge deals in the world.
Another special feature of the Israeli legal market relates to lawyers’ charge out rates, which are among the lowest of all developed countries.
Taking advantage of this ‘glitch’ in the market, Lawflex is positioning Israel as the emerging global centre for quality legal outsourcing services.
Over the last two years, Lawflex, with its pool of more than 250 lawyers has quietly disrupted the Israeli legal market with its focus on quality, flexibility and affordability. Having worked with many of the leading law firms and corporations in Israel, U.S. and U.K., Lawflex is setting its sights on the Asia Pacific market.
Whether it is large-scale document review; legal due diligence; e-discovery; contract review, negotiation and drafting or specialised legal advice from any of the 24 jurisdiction where its lawyers are admitted, Lawflex provides a cost-effective alternative for Asia-based corporations, on a temporary and flexible basis.
Hailing from top global law schools and with experience in leading law firms across a range of practices and sectors, Lawflex lawyers offer a cost-effective solution for corporations in Asia seeking a lawyer or team of lawyers, from associate to partner level, on a flexible basis to fill a specific legal expertise, add capacity for a new transaction, handle large-scale projects or even fill a sudden vacancy or temporary absence.
Lawflex’s team is comprised of lawyers native in English or one of 17 other languages, such as French, Spanish, Russian or Hebrew.
Lawflex has proven that quality, flexibility and affordability in the legal market can go hand in hand and is excited to bring its model to Asia.