Tag: LPO

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Assuming the proper initial inquires have been made and adequately addressed, what are the cost savings reasonably attainable by an outsourcing U.S. law firm and its clients? Answering that question necessarily involves a comparative analysis of revenue and expenses.
What is the future like for LPO? While some of the largest firms and corporations in the world are using these services to handle their legal needs, will it hold up? The services offered are very effective and affordable, but what will happen in the years to come?
The above tasks can be time consuming and hence quite expensive if done by a qualified legal services provider in a country like the United States who charges tens or even hundreds of dollars by the hour. But the same work can be done very efficiently in countries like India for rates as low as one-fifth of what it costs in the US.
With money getting increasingly difficult to earn keep and manage hiring legal outsourcing attorneys seems practical. The attorneys help you in finding the best professionals at the lowest cost as possible. What does this translate into?
After BPO (Business Process Outsourcing) it is now LPO (Legal Process Outsourcing and KPO (Knowledge Process Outsourcing) that is wooing the Indian lawyer. It is natural for the Indian lawyer to opt for foreign projects as they get paid much better.
Top notch law firms focusing on LPO in India are capable of researching almost any legal issue and can providie services as is required by clients in the US or Canada. LPO is a great new way to reduce the cost of litigation in the US. It helps the client and also the law firms.
Additionally the advantage of time zone, familiarity with common law doctrines and easy availability of English speaking lawyers attracts more foreign firms to opt for LPO services India. Indian attorney with UK/US qualifications are also sought after which is perfectly fulfilled by the top legal services India.
The law firms and in house legal departments have enjoyed the benefits of a quicker turnaround time. The work left with the Indian entity at the end of their day is completed and available when they arrive at work the next day. These have become as important as the other core reason for outsourcing, namely saving of costs.
The provisional patent specifications must include a proper title with a written and brief description, some drawings if required and/or model or sample if needed. However a complete specification would also include the best mode, deposition like microorganisms and claims apart from the aforementioned.
If one is just starting out on BPO (business process outsourcing) for the first time, it is better to choose out the independent third party contractor which usually will have its own infrastructure and manpower in the offshore country from where the service is executed.

According to the newly published survey, “Future of Legal Process Outsourcing (LPO), 87% of in-house counsel noted that it is more difficult to manage legal risks related to company data than compared to five years ago. Additionally, 69% of those surveyed say they have seen an increase in spending on managing legal risk and compliance over the last five years. The survey was conducted by UK legal journal Legal Business in partnership with Clutch Group in December 2013 and received responses from over 200 senior in-house lawyers in the UK, Asia, and the US.

The Legal Business survey also revealed that LPOs have a large role to play in helping companies tackle large data and help companies mitigate risk. Highlights of the survey include:

*80% of respondents say they expect to see the Legal Process Outsourcing industry expand and improve its services over the next five years.
*58% of respondents say that LPOs and law firms need to work together on compliance and risk matters.
*37% of in-house lawyers say that LPOs are better equipped than law firms to use advanced technology and to use data and risk analytics.
*In-house counsel are using LPOs primarily for investigations and due diligence exercises; general litigation support and eDiscovery are close seconds.
*The UK LPO market is less developed than the US: 38% of UK-based respondents say they have used LPOs for legal work, compared to 50% in the US.
*An increase in the level of civil litigation is seen as the biggest driver behind rising legal costs. Greater scrutiny from regulators is close behind.

According to Alex Novarese, Legal Business’ Editor-in-Chief, “Our survey demonstrates the tremendous challenges and pressure facing today’s in-house counsel. From rising costs to exponential growths in data, in-house counsel are looking for efficient and cost-effective strategies to manage these new realities. If alternative providers can satisfy blue-chip clients – and a sizeable group of clients report that they do – they will keep moving up the value chain.”

These survey results and comments are in line with a number of expert predications that the next five years will see new market disrupters that begin to change the fundamental nature of legal service delivery. These new LPOs will not just focus on lowering the cost of legal services, but will try to reinvent the model altogether. There will be continued experimentation in developing new platforms for delivering legal services that will allow in-house counsel to focus on high level advisory work rather than routine assignments work. In all, the future looks bright for the LPO industry.

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If you own a law firm or you are an in-house counsel looking forward to outsource legal process locally or globally, basic knowledge regarding the merits and demerits of legal process outsourcing service will be of great help for you. There are various that need to be considered and negotiated before flagging off any contract with a Legal proves outsourcing company. It will help you to maintain a good rapport and working relationship with the legal process outsourcing offering company. Initiate your outsourcing process by doing an evaluation of all your works. It will enable you to decide the type of work that you wish to outsource. After deciding the type of work, its time to questions that you must ask from your vendor. Some of the basic questions are as follows:

What will be the cost for legal process outsourcing services?

How well the LPO providing company will be able to meet our needs?

Why should that particular LPO Company be hired?

In case of legal process outsourcing Company you should be able to deal directly with that company. Besides direct communication medium, it must comply with all the obligations and privacy or confidentiality issues of the client. A standard set of benchmarks and metrics must be followed to measure the overall success or failure of the services provided by the company.

The advent of legal process outsourcing in India started as legal support services but in very less time duration, this sector has witnessed a phenomenal success and popularity. Always focus on how much profit can you make by legal process outsourcing. Calculate how much you can save along with all the mandatory tax advantages. Pay attention to the quality of the service offered by LPO Company. Properly analyze the associated risk factors and risk allocation framework to develop a strategy to control the risks. One of such risk can be linguistic or cultural differences that can cause obstacles in day to day operations of your business.

In case things run bad in your LPO relationship. One of the important prerequisite for LPO services is to have knowledge of the laws of the country of the LPO Company. It will help you to easily resolve the disputes that might creep in during later stages. So be ready and prepared to protect customer and company information.

The most popular Legal Process Outsourcing (LPO) destinations include China, Israel, Philippines, Sri Lanka and, of course, India. For a decade, India has reigned as the world’s premier outsourcing destination because of its favorable time zone, the better quality of experts from the country, foreign educated professionals, language and the similarity to English common law systems. Despite India’s supreme reign, LPO is moving beyond India’s borders into new countries and with new strategies.

Redefining LPO

As the LPO industry matures and expands, corporate legal departments and law firms alike are becoming more open-minded about the types of legal processes to outsource and where their LPO providers are located. The trend today is to think about outsourcing in its broadest terms as “to outsource any legal work — including from one law firm to another law firm — in any geographical location, for example from the UK to Kenya, India to Uganda and so on.”

Rethinking LPO

This new mindset is leading to a surge in new destinations and operating models for LPO work. Examples of new LPO locations include the UK, Chile, Ghana, Jamaica, Poland, Romania, Russia, South Africa, the Philippines, and Vietnam. These regions share several important attributes: they offer a rich pool of multi-skilled talent with a high work ethic. They also have cost advantages, sound IT and telecom infrastructure, good connectivity, ease of travel, government support, business-friendly policies and cultural compatibility.

Relocating Legal Process Outsourcing

The concept of “near-shoring” is also gaining global acceptance. The term describes any outsourcing location “near” its primary market (for instance, Eastern European countries to Western European Countries), or as services delivered from an adjacent or nearby country. The near-shore outsourcing model offers a number of benefits equal to the offshore outsourcing approach. The primary benefits include:

*Proximity and Time Zone
*Cultural Affinity and Ease of Doing Business
*Cost Savings

Although near-shore rates can be higher, near-shore engagements offer greater efficiency gains that working in close proximity and in the same time zones can bring. Therefore, near-shoring can be more efficient in achieving higher percentages of work performed at a lower cost location than offshore. Thinking past simple labor arbitrage, companies that engage in long-term engagements, measured by strategic service level agreements, can better leverage the advantages of the near-shore model.

The near-shoring trend illustrates the value of LPO beyond simple cost-savings. With the huge global potential that near-shoring presents, LPO will be more widely adopted as a flexible, effective strategy for delivering legal services to a global business community.

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