Chief Benefits of Hiring a Legal Process Outsourcing Company

Legal process outsourcing companies are turning out to be hugely beneficial for big law firms and in-house legal departments of multi-national companies. The success of outsourcing can be accredited to their cost effective solutions provided in fast turnaround time. With time, small and medium sized companies have also started outsourcing legal research, legal drafting, lease and contract abstraction, document reviewing, patent services, paralegal and litigation support, legal transcription and legal typing, digitization and document conversion and other such assignments to offshore service providers.

Outsourcing to LPO companies often turns out to be a good business decision, as it gives the client more time to concentrate on other core activities. All businesses want to streamline and secure their paperwork, which becomes even more crucial for the legal sector which has to deal with files, affidavits and several other legal documents day in and day out. 

Types of legal tasks which are commonly outsourced to LPO’s - 

1. Legal Research and Contract Management – Legal Research, Legal Drafting, Contract Abstraction, Lease Abstraction, Deposition Summary Services

2. E-Discovery and Paralegal – Electronic Document Management, E-Discovery Process, Due Diligence and Compliance, Paralegal/Litigation SupportServices

3. Legal Transcription and Digitization – Legal Transcription and Legal Typing, Digitization/Document Conversion, Virtual Legal Assistant Services

4. Intellectual Property – Patent Services, Trademark and Copyright Services

Legal outsourcing companies are experienced and very quick at delivering research information and drafting or abstraction assignments. They have a workforce comprising of law graduates and legal researchers who are proficient and well-informed about the national / state/ international laws and they work round the clock to offer superior quality legal services to their clients all across the globe. By outsourcing the companies enjoy a major benefit of saving time, money and labor.

The significant benefits of hiring a legal process outsourcing company -

 • Outsourcing enhances efficiency and productivity by resourcefully handling time consuming and tedious tasks.

 • Reduces client’s workload and management headaches.

 • Flexibility of hiring the staff anytime and for as much time as required.

 • Ensures better cataloguing and filing of legal documents.

 • Outsourcing reduces infrastructural investment for the client.

 • It shortens turnaround time and fastens the work flow.

 • Outsourcing reduces costs.

 • Encrypted and secure file transfers via any medium as preferred by the customer.

 • Eliminates the need for hiring workforce or hiring a full time lawyer.

 • Outsourcing companies provide a supervisor to oversee your assignment till its final delivery.

 • 24/7 customer service to resolve any queries or to provide updates on the progress of your assignment.

Why outsource legal processing work to LPO companies in India?

LPO is short for Legal Process Outsourcing which refers to a law firm, a company or an individual availing legal support services from an offshore legal support services provider at a much lesser cost than that of hiring an independent lawyer. LPO has become the buzz word in today’s legal industry and India is becoming one of the major contributors in the legal sector across the globe. Outsourcing is being favored vastly because of its cost effectiveness, fast solutions and proficiency. India is one of the best locations to outsource legal work because of the availability of highly educated lawyers with excellent written and spoken English skills, extensive knowledge about laws of different countries and favorable time zones.

 

Legal research and writing, document reviewing, patent services, drafting documents, etc. are some of the key assignments which are outsourced to the LPO’s in India. A major reason for the growing demand of legal support services provided by legal support service providers is that they help to cut down the overhead expenses of the client. LPO’s majorly hire law graduates to provide their clients with the best of services. These law graduates are given thorough training before assigning them with a project to work on. 

Legal Process Outsourcing companies in India provide multi-national companies and law firms a range of assistances to reduce costs, save their time and improve their productivity. Outsourcing companies work accurately and strategically to accomplish time consuming and mundane tasks for their clients in the fastest possible time. 

Some of the major reasons to outsource legal processing jobs are: 

1. Outsourcing gives more time to focus on meeting clients and customer satisfaction rather than spending time on research work or administrative tasks.  

2. All companies strive to reduce their costs and increase profits and outsourcing assures both of these. Benefit of availing professional services at a minor cost. 

3. Outsourcing companies gave an added advantage to the lawyers by doing their initial research work to help them prepare for their presentation in the court. 
  
4. Round the clock availability of legal and administrative staff.  

5. Pool of affordable and customized services to choose from. 

The LPO companies in India are providing a number of specialized legal services like:-

• Legal Research
• Legal Drafting
• Lease and Contract Abstraction
• Legal Coding
• Deposition Summary Services
• Electronic Document Management
• Paralegal and Litigation Support
• Legal Transcription and Legal Typing
• Digitization and Document Conversion
• Intellectual Property Review
• Contract Management
• Virtual Legal Assistant Services
• Document Review
• Patent Services
• Trademark and Copyright Services

The Reasons behind Increasing Need for Contract Abstraction Services

In most legal firms, Contract Management is still being managed by the in-house attorneys. Being a time consuming task it requires the attorneys to compromise with concentrating on other core activities. With the rising numbers of Legal Process Outsourcing (LPO) companies, delegating contract management to an offshore professional has become easy and cheap. Contract abstraction services include abstraction, analyzing, categorizing, drafting, editing and reviewing of the documents and contracts. 

Contract Abstraction Services

 Who needs contract abstraction services? 

Legal firms, real estate companies, consultancy firms and multinational companies have piles of paperwork, documents and contracts stored in office cabinets. Unlike electronic storage, physically storing papers requires a lot of space, extracting information from heaps of files takes a lot of time and efforts and the worst case scenario can be loss of important documents. Physical storage does not guarantee that key dates and payments are being met on time, which you can keep track of with the help of technology. 

Companies need easy and frequent access to key terms and clauses mentioned in the contract and specially the cases of merger and acquisition require larger lease abstraction. Outsourcing contract abstraction helps companies with critical planning, implementing and controlling the overall contract which is essential to the success of the contract and the contractor’s performance. Outsourcing service providers are expert at executing lease and contract abstraction to extract key clauses with respect to payment terms, renewal or termination date and other similar details.  

Why avail contract abstraction services?

Contract abstraction services can be tailored to meet the specific and unique requirements of companies. The abstracts vary with respect to their particulars and size and primarily state the brief outline of a lease along with its chief details. Abstracting services provides the bottom line information which is explored by professionals after careful consideration and integration of the entire document.

Combining the relevant information simplifies the work of the parties of the contract without putting in additional efforts in reading the pages of the contract every time some detail needs to be referred to or amended.  Abstraction also helps in the management of the contracts and agreements by providing the client with key information and details to help them make quicker and timely decisions. 

Sometimes, the contracts can run into hundreds of pages and pulling out some specific information may cost a lot of time. Thus, by availing contract abstraction facilities the specifics of a contract like the clauses, dates and the pertinent information regarding the parties can be gathered and stored efficiently.

Availing the Advantage of Professional Legal Research Services

LPO or legal process outsourcing has demonstrated a huge growth in the past few years by offering affordable and low cost solutions to companies and individuals looking for legal research services. The internet has left no area untouched and the legal process outsourcing industry will become a major asset to the legal community worldwide in years to come. In today’s age, information can be accumulated from various resources like books, journals, magazines, newspapers and the internet. 

Legal Research Services

Legal research services include doing thorough research and identifying the right resources for the clients who are busy with innumerous trials, stuck with hectic court schedules or chasing approaching deadlines. Accurate and relevant research work and case related facts support decision making, allowing lawyers to concentrate their time and efforts on other areas. 

The steps followed by legal research service providers include the following – 

• ·         Getting a thorough understanding of the client’s case/research requirement
• ·         Identifying the issue from the case information
• ·         Deciding the sources and keywords for gathering related information
• ·         Gathering relevant means like laws, previous/reference cases and rulings etc.
• ·         Extracting the most relevant information from the pool of information gathered
• ·         Presenting the gathered research results to the clients 

During legal research, deciphering legal citations can be very challenging and time consuming. A person doing legal research on a particular case or topic will have to be familiar with the law in different countries. LPO’s provide an extensive range of services to their clients to make their work process as smooth as possible. The LPO industry has become a popular choice in recent times in response to increasing legal demands such as foreclosures and bankruptcies happening across the globe. Outsourced legal research services have gained popularity for being fast and affordable. 

Outsourcing companies provide efficient research results at lower costs. They handle time consuming tedious tasks like researching, extracting relevant information, organizing and presenting the facts and figures with an expert’s sharpness and precision. 

Sometimes there are chances that you may not be able to gather the required information due to time restraints or overload of work and sometimes your research work may go in vain when the information you’ve collected fails to get you the desired results. In such situations also outsourcing proves to be a smart, fast and perfect choice. Delegating research work also gives the legal firms more opportunity to concentrate on their clients and other more important aspects of their work.