Analyst: ‘Information As a Legal Service’ Will Hit $176M

Earlier this week, market research company Outsell reported that the ‘information as a legal service’ market is poised for explosive growth: Law firms worldwide currently derive an estimated $98 million in revenue but will be earning a projected $176 million by 2017.

Information as a legal service refers to standardized, prepared legal information for sale. For instance, Davis Polk & Wardwell has developed an online portal that its clients can use as a guide through the forthcoming “Volcker Rule,” a key component of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

In an interview with Big Law Business, Outsell Analyst Hugh Logue, who authored the ...