INTRODUCTION
Many 1s’ make a thousand. In the olden times lawyers had individual existence. Later it has changed by formation of groups through firms or companies. By the end of the 19th century many law firms sprout out in different parts of the globe. India being under the colonial rule was least affected by the changes evolved round the world. By 1990s India being a democratic independent country has welcomed globalization and liberalization to expand and boost its economy and development. By 21st century, legal sector gained all its power and vigor to start outsourcing process. The article deals with meaning and definition of LPO, methods of LPO initiation and LPO’s in INDIA.
DEFINITION AND MEANING
Legal Process Outsourcing often indicated as LPO refers to the practice that a law firm or corporation obtaining the service of another law firm or corporate located within or outside the territory. If the service provider is located in a foreign country it is called off shoring. LPO providers are established themselves in Canada, India, Philippines, US, Israel and Latin America. In India it is successfully carrying out by Bodhi Global Services (P) Ltd, Biz & Legis, etc.
METHODS
Legal Outsourcing can be initiated by operating following methods.
- Direct Contract: It means that the law firm directly receives the service from the other law firm. Here agent is absent.
- Managed Outsourcing: Here a LPO service vendor will be present who provide service managed by a traditional law firm.
- Required outsourcing: It is when the firm commands a certain height of outsourcing in legal process either to reduce the costs or to fulfill statutory requirements.
- Multi sourcing: In multi sourcing the works of LPO is segregated in order to avoid risk and take advantage of each provider’s strength. It is complicated in nature.
IMPORTANT SERVICES
The main services of LPO include book keeping and billing, contract management, contract review, data analysis and management, document drafting, document production, due diligence, general litigation on support services, e-discovery, IP services, legal research and legal transcription.
ADVANTAGES
- Cost effective: It was marked in the legal department of India that it has achieved 30% to 80% cost savings.
- Flexibility: Hiring of service may not be permanent but also temporary. Hence it is of flexible nature.
- Increase efficiency: LPO services increase efficiency by giving special reference and consultation of legal matters.
- High quality legal Support: The LPOs mostly employ fully licensed attorneys and not the paralegals or legal secretaries.
- Leverage time zone differences: North American or European based clients have ability to have the work completed on a 24 hour basis.
Conclusion