Tag: thomson reuters

(Reuters) - As the market for alternative legal services continues to grow, providers owned by traditional law firms remain the fastest-growing segment, according to a new report released Tuesday.The total market reached $20.6 billion by the end of the 2021 fiscal year, up 45% from two years prior, according to the biennial report by the Thomson Reuters Institute, the Center of Ethics and the Legal Profession at Georgetown Law and the Saïd Business School of the University of Oxford.The report on alternative legal services providers (ALSPs) includes independent companies, the Big Four professional services firms and ventures created within law firms — so-called "captive" providers.Law firm captives make up the smallest part of the ALSP market with about $1 billion in revenues, compared to independent providers which generate about $18…