Many years ago at a Finley Kumble partnership meeting a friend wryly commented, ‘We’re tents in the bazaar.’ He was right; each partner operated his/her own mini-firm– setting rates, hustling business, and engaging in non-stop origination disputes. It was by no means a collegial bazaar. Decades later, the Finley Kumble version of ‘partnership’—once anathema to white shoe firms—predominates. But in addition to the ‘bazaar’ that most large law firms are, a broader competitive marketplace also exists. Law firms once dominated the legal vertical, and there was plenty of work to go around. Those days are over. In-house legal departments and legal service providers now combine for nearly half of total legal spend. The ‘tents in the bazaar’ remain, but a new digital marketplace is also emerging. It is changing the way legal services are bought and sold.