Why Legal Process Outsourcing Is an Emerging Need of Law Firms?
Introduction
The advantages of legal process outsourcing have lured law firms into transacting business with such firms/companies. The global recession and meltdown was the period which set the trend for outsourcing legal processes, as during this time the law firms were flooded with suits. Law firms through the past three decades have had a quantum jump, for good. Law firms have grown both in scope and in structure. The legal acumen of the citizens, which impels them to take legal recourse, has led to a surge in the profits of the law firms. With such an increase in profits, the law firms have invested in marketing and have taken global strides. After the boom and good business, the law firms now are oriented to reduce costs, while maximizing business value and ensuring customer satisfaction.
Need for LPO arising from the urge for cost-optimization A U.S. or a U.K. law firm has to pay comparatively more to an untrained in-house lawyer, than a cost at which a skilled professional in an offshore company can be hired. Also, operating costs