Legal Process Outsourcing is a high end legal industry which is growing rapidly in recent decades due to is cost savvy trends. India has now become hub of LPO services. It is now globally a biggest market. The reason behind this tremendous growth is that in India there exist skilled labor pool and also implementation of quality measure to ensure high quality services. This attracts MNC’s for outsourcing their projects in India. Moreover the labor force in India is much more economical than any other country like US and UK. The legal system in India is very similar to that of US and UK, this raises sense of better understanding of client’s every requirements. The government has somewhere down recognized the significance of LPO services in India for the economic development. This also raises the employment opportunities. In keeping view this remarkable growth in the employment opportunities, government has now started taking significant measures to raise the standards of LPO services in India. According to the analysis report submitted by Teach Navio, it is estimated that Legal Process Outsourcing in India has its growth at a CAGR of 27.7 percent over the period of 2010-2014. The LPO services in India have its remarkable growth due to increasing technology applications and favorable government policies.
How India leading in Global legal Process Outsourcing
1. Friendly and supportive government policies for IT and ITES exports.
2. Vast skilled and talented labor force with good command in English.
3. Indian legal opinions are written specifically and exclusively in English for the ease of clients.
4. 24×7 helping operating systems for clients
5. Common law jurisdiction prevails in India like US and UK.
6. Courts proceeding are exclusively conducted in English in both appellate and Supreme Court.
LPO supportive government policies:
1. 100% exemption has been granted by CBDT i.n Central Board of Direct taxes to LPO organizations for few of its services including Back-office Operations, Insurance Claim Processing, Engineering & Design services, Content Development or Animation Human Resource Services, and Legal Databases.
2. National Venture Fund with the corpus of rs.100 crore for the software and IT industry.
3. Import of Capital goods has been granted duty free.
Services offered by LPOs
The sphere of business have now widened by LPO’s. Following are the business areas of LPO firms.
3. Mediation and Counseling
5. Corporate and Securities
6. Commercial law
7. Intellectual Property rights
8. Real Estate
9. Mergers and Acquisitions
10. Insurance and Taxation
LPO business process
Legal Process Outsourcing is a process to outsource legal projects. Technology has somewhere down widened its scope of business with its client friendly procedures. Foremost, the documents are scanned and uploaded in the secure internet site of LPO’s. The LPO’s then access the assigned documents. Then they identify the assigned documents and then conduct a dept analysis of it and perform the required assignments. After the completion of these assignments, they are then uploaded it back into the internet as findings. These findings are extracted from the data execution program of LPO. The data execution program includes searching the web portals and other reports and sites and abstracting the data from it. These data are then converted into legal blogs and reports maintaining the quality output as per client’s requirements. The purpose behind this is to meet clients’ requirements and to ensure him with best information according to client’s requirements.
LPO’s must know what need to be outsourced. The best technique of it is mapping of legal tasks and its transactions. The legal tasks need to be break down on the basis of who will do what. That is it needs to be analyzed that (a) which task require high level legal expertise; (b) which tasks need not require such high level expertise and can be outsourced effectively by LPO firms.
For instance, if we take an example of Merger and acquisition, its transactions and procedures can be broken down into various elements. Like document collection and indexing, review of documents and issues related to it can be done effectively by LPO. While the other two transactions like drafting and purchase of agreement and signing off Merger and acquisition with significant recommendation require high level legal expertise can be dealt by senior counsel or law firm.