NEWS from all around the world

FORTUNE 500 FIRMS DRIVING LPO INDUSTRY

Fortune 500 firms, a US based software firm promoted by a person of Indian origin with a development centre in Bangalore and a legal training firm based out of Mumbai are driving legal process outsourcing (LPO) to India.

LPO encompasses contract drafting and review, litigation support, intellectual property, and legal research and drafting

Sony Pictures had to prepare an ‘opinion letter’ (outlining the activity and the risks involved) for insurance firms in order to secure cover for shooting a movie, and the movie’s fate hinged on the letter and the cover.
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LPO INTO ACTION NOW

The argument that offshoring, as a practice, can create tremendous employment opportunities is now largely uncontested. The benefits of offshoring have been felt in numerous industry verticals, including health care, research, media and, more recently, the legal industry. The significance of ‘offshoring’ in the Indian economy is continuously increasing, and many believe that these are the ‘early days’ of offshoring, not just in terms of volume of work but also in terms of variety.

For the legal industry this is a period of tremendous learning and development, and the shape that Legal Process Outsourcing has taken raises incredible possibilities for legal professionals and industry alike.
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NOW, TESTING TIME FOR LAWYERS

The nascent legal process outsourcing (LPO) industry in India is set for a quantum leap with the introduction of a new Global Legal Professional (GLP) certification test for law graduates in the country.

The test, an initiative of the LPO industry, seeks to provide a standard measure of skills and knowledge required for the industry in India, which is expected to be worth $2 billion by 2015.

"This test will help the LPO industry employ quality staff from the 80,000 law graduates India produces every year," said Sachin Malhan, chairman of Rainmaker, a leading recruitment firm focussed exclusively on the legal industry.
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LAW FIRMS LOOK ABROAD TO OUTSOURCE LEGAL ANALYSIS

Like the shoemaker in the popular Brothers Grimm fairy tale, every intellectual property attorney would like to wake up and find his work done during the night.
Because of globalization, the fairy tale has become a reality for some attorneys. Growing numbers of Fortune 500 companies and large law firms are exploring the benefits of outsourcing legal work to entities outside the U.S., known as legal process outsourcing.
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NEW YORK CITY BAR ETHICS OPINION PERMITS LEGAL SERVICES OUTSOURCING

In August 2006, the Committee on Professional and Judicial Ethics of the Association of the Bar of the City of New York ("the Committee") published a Formal Opinion that stated attorneys could ethically contract out legal support services abroad, both to foreign lawyers not admitted to practice in any U.S. jurisdiction and to laypersons ("non-lawyers"), without violating the New York Code of Professional Responsibility's ("the Code") prohibition against aiding in the unauthorized practice of law pursuant to Disciplinary Rule ("DR") 3-101(A). N.Y. City Bar Op. 2006-3.
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LEGAL OUTSOURCING - BUBBLE OR REALITY?

NEW DELHI: Outsourcing is gradually becoming the backbone of Indian service sectors. In the last fiscal India earned $6.7 bn by providing services in software, technology and manufacturing outsourcing.
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US COMPANIES NOW OUTSOURCE LEGAL WORK TO INDIA

After law firms and individual attorneys outsourcing their legal processes to India, US law firms have got into the act.
US companies fighting a case in the US hire just one lawyer to appear in court while they station their entire legal department in India because most of the research and paperwork for large American corporates is currently being done in India.
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LPOs TO ADD MORE PUNCH TO INDIA ACTION

BANGALORE: The legal process outsourcing (LPO) sector in the country is likely to see more action in the coming months. As of now only around 30% of the top ten Indian BPO players have evinced interest in entering this segment. But, according to industry experts, big players like Infosys, Wipro and others are studying this model and could look at entering this business in the near future.
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