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Article Extract from the Legal Executive Institute
In a new graphic, titled “How Big is the US Legal Services Market?” created by Legal Executive Institute, the size of the US legal market is estimated to be about $437 billion currently. This number includes the revenue generated at law firms, legal process outsourcing firms (LPOs) and the budgets allocated to corporate legal departments.
The largest piece of the market is law firms with a total combined revenue of $276 billion. Following law firms, corporate legal departments represent about $160 billion with the remaining $1 billion falling to LPOs.