LPO- Law & Behold
INTRODUCTION
We all are aware of the outsourcing boom that has engulfed our nation. It all began with the entrance of Business Process Outsourcing (BPOs), five years ago. Next came Knowledge Process Outsourcing (KPOs) and firms abroad started outsourcing high- end knowledge activities in India. Now the Legal Process Outsourcing (LPO) the latest member of the outsourcing family.
An extension of KPO’s, the need for legal process outsourcing was felt after attorneys and law firms abroad realized that managing litigation – related documents as well as drafting, process etc could be a monumental task. They decided to outsource back-end jobs to litigation service providers, coding experts etc based in India.
ELIGIBILITY
This area of outsourcing prefers professionals. Law firms and the legal departments of corporates favor employees with a solid law background, due to high end technical knowledge involved. However, in smaller firms, amateurs are also recruited for jobs like paperwork & documentation, for which prior knowledge is not compulsory.
SCOPE
This line of work offers tremendous scope to aspiring law graduates. Every law firm wants to be part of the fast growing LPO tableau that has hit India in the past one or two years. It is predicted by 2010, the KPO revenue (of which LPO is a part) will grow to become a staggering $17 billion industry.
JOB PROFILE
The composition of work that is generally outsourced includes reviewing and reporting of documents, proof reading, online research, mortgage processing, intellectual property researching, drafting & application of patents, litigation, corporate due diligence support etc.
CURRENT SCENARIO
The trend started in USA after illustrious lawyers started outsourcing their mundane tasks at 1/4th the price to other countries. But this is changing. Revenues in this sector (for India) catapulted to $4.5million in the last year.
This brings us to just one conclusion: It’s only matter of time before this sector too attains the same staggering success as its big brothers- the KPO & BPO industries.
INTRODUCTION
We all are aware of the outsourcing boom that has engulfed our nation. It all began with the entrance of Business Process Outsourcing (BPOs), five years ago. Next came Knowledge Process Outsourcing (KPOs) and firms abroad started outsourcing high- end knowledge activities in India. Now the Legal Process Outsourcing (LPO) the latest member of the outsourcing family.
An extension of KPO’s, the need for legal process outsourcing was felt after attorneys and law firms abroad realized that managing litigation – related documents as well as drafting, process etc could be a monumental task. They decided to outsource back-end jobs to litigation service providers, coding experts etc based in India.
ELIGIBILITY
This area of outsourcing prefers professionals. Law firms and the legal departments of corporates favor employees with a solid law background, due to high end technical knowledge involved. However, in smaller firms, amateurs are also recruited for jobs like paperwork & documentation, for which prior knowledge is not compulsory.
SCOPE
This line of work offers tremendous scope to aspiring law graduates. Every law firm wants to be part of the fast growing LPO tableau that has hit India in the past one or two years. It is predicted by 2010, the KPO revenue (of which LPO is a part) will grow to become a staggering $17 billion industry.
JOB PROFILE
The composition of work that is generally outsourced includes reviewing and reporting of documents, proof reading, online research, mortgage processing, intellectual property researching, drafting & application of patents, litigation, corporate due diligence support etc.
CURRENT SCENARIO
The trend started in USA after illustrious lawyers started outsourcing their mundane tasks at 1/4th the price to other countries. But this is changing. Revenues in this sector (for India) catapulted to $4.5million in the last year.
This brings us to just one conclusion: It’s only matter of time before this sector too attains the same staggering success as its big brothers- the KPO & BPO industries.