Firms typically use as much violence as is economical. A company that uses excessive force would incur high costs and have little cooperation from the community and competitors. Reputation would be a factor as a firm that becomes a crime syndicate would have to deal with a hostile public. An oligopoly by a cartel is more likely than a monopoly but even they would have a hard time competing with innovators and voluntary militias. Another benefit to polycentric law (which has much better historical examples than Mexico) would be less incentive for people to be incarcerated for victim-less crimes, that alone would mean most of today's prison population would be free and those resources would be used to protect property rights instead of enriching drug cartels and gangs.
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Bullets are cheap. If Bill isn't a mighty productive slave the agency would probably be best off killing Bill. All the "firms" are essentially crime syndicates. We have examples in real life called the Crips and the Bloods.
Reputation would be a factor, I would want the most violent firm to put fear into the hearts of my enemies and prevent anyone from even considering victimizing me.
We can legalize drugs without dissolving the state and resorting to competing protection agencies. Why not start there?
give me some examples of polycentric law, how about the Crips and Bloods?