The worldwide credit crunch has affected the Indian IT companies, but the legal process outsourcing (LPO) outfits are still growing and providing cost effective and high quality services to overseas companies and law firms. Indian legal market is not liberalised and no foreign lawyer is allowed to practice in India; however, major law firms are getting the benefit of legal process outsourcing service by opening captive back offices or establishing outsourcing agreement with Indian legal outsourcing companies.
Outsourcing is a beneficial tool for foreign law firms because it would significantly reduce costs for them, for the rates for Indian legal workers were about 18.0 - 26.5% per cent of their average American and UK counterparts. It is projected that legal process outsourcing will be the second fastest growing segment of the global BPO industry, estimated to earn a revenue of $640 million by 2010. It is further predicted that by 2010, India is poised to achieve significant growth by doubling its share to 6 to 7 per cent in the $250-billion global market of LPO. Current credit crisis, cost considerations, timing and competition are all pushing more law firms to look at legal process outsourcing to countries like India.
Nowadays, as more and more UK law firms are inclined to outsource their work to India, this article will discuss few issues that might arise and should be taken into consideration by the UK law firms before deciding to outsource their work to India. The article will first set a background as to why India is the best place to outsource legal work and what can be outsourced to India, and then goes on to discuss the issues which should to be dealt in advance by the law firms before entering into any agreement with the Indian legal outsourcing companies.
The worldwide credit crunch has affected the Indian IT companies, but the legal process outsourcing (LPO) outfits are still growing and providing cost effective and high quality services to overseas companies and law firms. Indian legal market is not liberalised and no foreign lawyer is allowed to practice in India; however, major law firms are getting the benefit of legal process outsourcing service by opening captive back offices or establishing outsourcing agreement with Indian legal outsourcing companies.
ReplyDeleteOutsourcing is a beneficial tool for foreign law firms because it would significantly reduce costs for them, for the rates for Indian legal workers were about 18.0 - 26.5% per cent of their average American and UK counterparts. It is projected that legal process outsourcing will be the second fastest growing segment of the global BPO industry, estimated to earn a revenue of $640 million by 2010. It is further predicted that by 2010, India is poised to achieve significant growth by doubling its share to 6 to 7 per cent in the $250-billion global market of LPO. Current credit crisis, cost considerations, timing and competition are all pushing more law firms to look at legal process outsourcing to countries like India.
Nowadays, as more and more UK law firms are inclined to outsource their work to India, this article will discuss few issues that might arise and should be taken into consideration by the UK law firms before deciding to outsource their work to India. The article will first set a background as to why India is the best place to outsource legal work and what can be outsourced to India, and then goes on to discuss the issues which should to be dealt in advance by the law firms before entering into any agreement with the Indian legal outsourcing companies.