Legal Process Outsourcing or what is popularly known as “LPO” is one of the biggest phenomena that has affected the legal industry today. A study conducted by the US based Forester Research states that the current annual value of legal outsourcing which is worth $80 million can rise up to $4 billion and fetch 79,000 jobs in India by 2015. If we pay close attention to the growth of this developing sector, we would realize that the LPO is gradually becoming the backbone of Indian service sectors. The statistics revealed above indicate that there are obvious benefits associated with outsourcing. This article will however delve into the benefits of legal process outsourcing to a well established law firm or a company situated in India.
Law school graduates are now regarding the LPO industry as the next best thing to working in a law firm. The most obvious benefit associated with legal process outsourcing is that one would receive quality work at extremely affordable costs. Working with graduates who have an excellent hold over the subject is an added advantage. Educational institutions in India such as the IGNOU School of Law in association with the Rainmaker, which is a leading training and recruitment solutions provider, has tailored a certification course – the Post Graduate Diploma in Legal Process Outsourcing – to specifically educate and train students to suit the requirements of this booming sector.
How does one choose the right law firm or company that will adequately fulfill a client’s needs? One should remember that law graduates from India travel for further education to countries like the United States, UK etc.. Most of these students gain knowledge and understanding of the laws and return to India. These graduates are then hired by companies and law firms as associates or legal advisors. Take for example Unicita Consulting Private Limited, which is a company that provides Intellectual Property Services, specifically patent and trademark services at affordable costs, which has hired graduates who have received their post graduate degrees from Australia and the US. They are able to understand their clients’ Intellectual Property requirements and successfully file patent and trademark applications and prosecute the same.
Legal Process Outsourcing reduces costs incurred while achieving optimum results within a short period of time. This seems to be a win-win situation for both – the US firms, who get their work done at lower costs and the Indian firms who have the opportunity work on International law and provide quality work that lives up to the standards of the US.