Indian Law Firms to Benefit From Lpo Boom
India might be considered as a growing industry till now also 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 is that, it absorbs many of the 15,000 law graduates which India produces each year.
About 700 Indian lawyers are estimated by Nasscom which are presently getting the LPO boom benefit, debating and documenting the glittering fallouts of globalization family disputes, patents entertainment, and pharmacy. At Indian law firms, Gurgaon, Noida, Bangalore and Mumbai, the legal requirements of several MNCs in the US and Europe are outsourced.
It is for the first time that conference talked about law and legal framework, discussed by US-based Centre for American and International and Society of Indian Law Firms (SILF) conference.
Legal outsourcing to India has begun as a low-end work which usually included transcription. But now it is history. Now, like other BPO (Business Process Outsourcing) activities, India?s legal services are affordable and efficient too. So, everything from patent application drafting, legal research, pre-litigation documentation, advising clients, analyzing drafted documents, writing software licensing agreements to drafting distribution agreement is being outsourced to India.
Currently, there are around 100 big and small law firms in India which are dedicated to serve their clients in the US, UK and other European countries.
Indian lawyers make pleadings ready and provide back-up support for litigation-related research. Moreover, they go through the patent applications.
As far as competence is considered, Indian lawyers work out cheaper 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.
During the three-day conference which was jointly organized, security matter was discussed under the aegis of the Indo-American Chamber of Commerce; the concern was addressed about protecting the confidentiality clause.
Source:
http://www. itmatchonline. com/article/Offshoring_outsourcing_tips. php
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