| Topic : Business Opportunities in Legal Industry |
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BPO services in law
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Source : http://ezinearticles.com
Activity:
3 comments
845 views
last activity : 07 06 2010 20:18:04 +0000
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It may still be a growing industry in India but legal process outsourcing or LPOs is expected to fetch up to $20 billion by 2015. One of the biggest driving forces for the success of law schools, it absorbs many of the 15,000 law graduates that India churns out each year.
Nasscom estimates about 700 Indian lawyers are currently reaping the LPO boom benefit, debating and documenting the glittering fallouts of globalisation family disputes, patents entertainment, pharma. Several MNCs in the US and Europe are outsourcing their legal requirements to Indian law firms based in Gurgaon, Noida, Bangalore and Mumbai.
Legal process outsourcing is one of the many new topics that will be discussed by the US-based Centre for American and International and Society of Indian Law Firms (SILF) conference. It is the first time that such a conference on law and legal framework is being held in India.
Like other BPO (Business Process Outsourcing) activities, Indias legal services are affordable and efficient. Legal outsourcing to India started out as a low-end work that mostly included transcription. But that is a thing of the past. Now, everything from patent application drafting, legal research, pre-litigation documentation, advising clients, analysing drafted documents, writing software licensing agreements to drafting distribution agreement is being outsourced to India.
At present, there are around 100 small and big law firms in India that are exclusively catering to their clients in the US, UK and other European countries. Like other BPO (Business Process Outsourcing) activities, Indias legal services are affordable and efficient.
Besides going through patent applications, Indian lawyers also prepare pleadings and provide back-up support for litigation-related research. "As far as competence is considered, Indian lawyers are second to none and it also works out cheaper by about a fourth for a foreign firm to get it done by a firm in India compare to a US law firm. The Services Export Promotion Council, set up by the Union Ministry of Commerce, is also looking into various issues related to LPOs.
About security it was decided during the three-day conference that was being jointly organised, under the aegis of the Indo-American Chamber of Commerce, the concern was addressed about protecting the confidentiality clause
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In this world , with high technological growth and advancement in communication systems, the distance between the two ends of the globe has shortened . The outsourcing industry has boomed and organisations are also outsourcing more and more work... |
Legal Process Outsourcing is an area of high value added BPO service involving legal work. LPO is connected with the works of Intellectual Property Rights, like patent search, patent application drafting, trademark and copyright registration,... |