After Sliding at Pandemic's Start, Law Firm Subsidiaries Are Soaring

The American Lawyer

December 01, 2020

 

The-American-Lawyer

Captives focused on e-discovery, alternative staffing and automated legal expertise all witnessed clients back off amid the widespread economic uncertainty of late March and April, but interest then rebounded.

NEW YORKDecember 1, 2020 — A number of law firm subsidiaries focused on new strategies for delivering legal services experienced initial drops in demand in the early months of the COVID-19 pandemic, but leaders of these units report a strong recovery and have high hopes for 2021.

Captives focused on e-discovery, alternative staffing and automated legal expertise all witnessed clients back off amid the widespread economic uncertainty of late March and April, but interest then rebounded, ensuring that many of these young entities are likely to see their best year ever in 2020.

“Firms have recovered well, and even better than expected,” said Baretz+Brunelle New Law practice co-head Beatrice Seravello. “There’s a lot of caution still, but on an overall basis, this has given firms the opportunity to look at what they can build and how they can be more productive by building captives.”

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