The Undistorted, Yet Evolving LPO Industry
       By: SBL BPO
Posted: 2010-11-08 07:01:00
When the Global Financial Recession brought about a major downturn in the major IT and business sectors, the legal industry was the only industry which oversaw and reaped benefits from the growing litigations and bankruptcies, especially, the Indian legal industries. The research conducted by Evalueserve in April 2010 reported that there are over 5,200 professionals in the LPO industry, indicating the fact that LPO industry is a fast growing sector that is expected to generate heavy revenue within short period of its functioning. LPO firms in India charge a fraction of what the major legal markets charge per hour for performing the service. Document reviewing, legal research and writing, outsourcing patent services, drafting pleadings, etc. are some of the major legal projects outsourced to the LPO firms. The Legal process outsourcing services provided by law firms and legal support service companies are in growing demand to cut the overhead expenses of the client law firm. These outsourcing companies keep themselves abreast of all the legal trends evolving in the industry. The legal services provided are generally known for their reliability, affordability, and competition, which is why outsourcing the legal issues or projects is an ideal choice made by the global companies. The lawyers, paralegals, and engineers are hired based on their rich domain expertise and industry practices, as the efficiency in the solution is one area that cannot be afforded to be compromised by the major outsourcing companies. Latest and sophisticated digitized equipments, tools, high tech software packages, industry-best techniques, that are compatible to the clients' requirements are being employed by the LPO service providing companies to deliver optimized legal powered to deliver any amount of data in any required formats. Confidentiality of all client records is one of the major setbacks faced by the LPO companies worldwide. Breaching into confidential documents or records, competition, piracy, heist, robbery, and hacking, have posed as threat to the growth of the LPO industry, with the lack of ethical standards being another speck in the industry.The general legal projects or issues handled by the major LPO firms in India are:
Trials Transcription
Legal Letter Transcription
Legal coding
Court Reporting
Data Entry Work
Contract Management Services
Document Review Services
Document Management Services
Intellectual Property Services
Legal Research Services
Litigation and Administrative Support Services
Consulting Services
Immigration paperwork
Research & Publishing
Compliance & Regulatory
Real Estate
Legal Drafting
Answering Online Legal Questions
Legal Definitions
Information on State and Federal entities With the growing number of laws, legal resources, regulations, constitutions, statutes, and ordinances, it has become imperative to formulate research reports or other legal solutions based on these criteria. Using various legal sources, upgraded research methodologies and enhanced research skills, the LPO research experts execute the analysis of the problem, and application and communication of investigative results. Clear and enforceable regulatory legal documents and articles are drafted by the LPO firms for personal, professional and corporate use. Intellectual property services include user-friendly services for patents, copyrights, trademarks, design rights, database rights, chip protection rights, right to performance, etc. Legal outsourcing companies in all major cities like Cochin, Bangalore, Mumbai, Delhi, Chennai, etc. are now capable of delivering comprehensive answers for all and any legal issues or queries like hiring lawyers, how to sue, going to court, issues based on family, criminal, divorce, and employment.Value-added information on various laws of a particular state or federal entity like enforcing laws, establishing taxes or collecting taxes, marriage licenses/driver licenses and marriage/divorce laws, establishing courts, lending money, or providing for the general welfare, etc. are delivered with the greatest accuracy to ensure the client satisfaction.Legal Support Tasks like Document Review, Document Abstraction, Legal Articles, Case Summaries, Deposition Summaries, Subpoena Processing, Document Indexing, Attorney Tasks Coding, Case Management, and Legal Bill Audits are also leveraged by the law firms and banks with a 24x7 legal backup. Despite the setbacks and challenges, the LPO industry witnessed growth by 40% to 60% during the past one year. With this trend and the advancing technologies, the industry is expecting to widen its scope of services and application to a wide domain by producing accurate and all-pervasive legal solutions at a relatively fair price.
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