In this highly competitive global market every corporation requires to work on minimal margins and they required adopting cost cutting measures and that is where outsourcing became imperative.
Legal Process Outsourcing (LPO) is the third big Leap of outsourcing industry in India, after Business Process Outsourcing (BPO) & Knowledge Process Outsourcing (KPO). LPO is an activity or practice to get legal support services from legal services firms or corporations.
In the beginning, LPO covered mostly low-end transcription work (Data management, Word Processing, Litigation support, Book-keeping and reconciliations etc.) but now LPO also includes a huge range of high end legal processes such as patent application drafting, legal research, pre-litigation documentation, advising clients, writing software licensing agreements and drafting distribution agreements.
The total market size of Global LPO business is around USD 250 billion. And out of this US alone captures two third of LPO business. The growing cost of Legal services in USA leads it to outsource or offshore the legal activity. It was very necessary for US law firms to obtain the Legal support services from outside to either save their business by cost cutting or for profit making.
There are a lot of examples of US law firms that were running their business successfully & were well known in their field but due to increasing cost in legal services they could not survive. And these failure firms proved to be a good learning example for rest of the firms or corporations and it became imperative for US law firms to outsource the legal support services.
India had already proved its reliability with its IT BPO & KPO services, so it emerged as a favorable destination for LPO business. The first legal outsourcing to India started back in 1995, when Bickel & Brewer the Dallas based litigation firm, with 34 lawyers opened an office in Hyderabad.
The next thing that gave an impetus to the industry was when General Electric, in 2001, added a legal division to their currently existing base of operations in India. This legal cell was specifically started to handle legal compliance and research for GE plastics and GE consumer finance (Divisions of GE capital). Thereafter, the industry witnessed a steady upswing in demand for outsourced legal services from India. And then the foreign players started coming in India.
This gave an opportunity to the Indian lawyers & students wanting to go abroad or want to earn hefty amount get good opportunity to work with legal outsourcing firms.
In India most of the Legal Process Outsourcing business revolves around three major activities.
Legal transcription and drafting services: Law firms have extensive documentation requirements, which normally get outsourced to India. This involves data entry or activities like sending correspondence, document management and indexing, drafting memos etc. This is the entry level, low value high volume task. Owing to low risks, this sometimes tops the priority lists for firms starting outsourcing.
Patent prosecution assistance: This is the hottest area in Legal Processes Outsourcing. It involves assistance in filing patent applications, infringement studies, IP asset management services, prior art searches etc.
Legal research: It involves performing legislative history research, jurisdiction studies and other typical case study researches that are common with the legal profession. When dea ing with corporate activities, like mergers and acquisitions legal due diligence of the potential targets or acquirers and their accompanying legal issues becomes imperative. This involves extensive data research etc and hence a lucrative outsourcing task.
India has an acute shortage of law professionals as there are more than half a crore cases pending at various court levels. Supreme Court alone has 50, 000 pending cases to deal with many more thousands piling up every month. These whopping figures do not only show the backlog of legal case but also emphasizes the constantly increasing crime rate in India.
The professions in law industry include that of judges, lawyers, advocates, paralegals, attorneys, legal assistants, legal secretaries, stenotype (court) reporter, legal writing, legal recruiting and justices at various levels. Even law teachers and practitioners are in high demand to train the upcoming law students and trainees. It is a profession that burdens a lot of responsibility and accountability on your shoulders. The ratio of lawyers per lakh is apparently lesser than what it should be and thus the demand for lawyers in India has grown manifold.
In order to cater to the multiplying need of legal professionals in the country, many law courses have been coming up. There are short term and long term courses, diplomas and degrees, distance learning and regular courses offered by law studies.
Law colleges in Delhi can be listed as:
Amity Law School, Saket, New Delhi
Faculty of Law, Jamia Millia Islamia, New Delhi
Guru Gobind Singh Indraprastha University, New Delhi
The Indian Law Institute, Bhagwandas Road, New Delhi
Important Universities across India includes:
University of Bombay, Faculty of Law, Maharashtra.
University of Lucknow, Faculty of Law, Lucknow
University of Madras, Faculty of Law, Madras
University of Mysore, Faculty of Law, Mysore, Karnataka
Andhra University, Faculty of Law, Visakhapathnam, Andhra Pradesh
Bangalore University, Faculty of Law, Jnana Bharathi, Bangalore
Barkatullah University, Department of Law, Bhopal
Department of Law, University Campus, Kariavattom, Kerala
Government Law College, Churchgate, Mumbai
Government Law College, Kerala
Pondicherry University, Faculty of Law, Kalapet, Pondicherry
Shivaji University, Faculty of Law, Maharashtra
Sri. Venkateswar, University, Faculty of Law, Andhra Pradesh
Aditya College of Law, Agra, UP
ILS Law College, Pune
Bharathi Vidyapeeth, Pune, Maharashtra
Bharathiar Univeristy, Faculty of Law, Coimbatore, Tamil Nadu.
Dr. Ambedkar College of Law, Wadala, Mumbai
KLE Society’s Law College, Bangalore, Karnataka
Kurukshetra University, Sirsa, Haryana
Mahatma Gandhi College of Law, Gwalior, Madhya Pradesh
National Law School of India University, Bangalore
Law studies are mostly associated with lawyers but law students do not need to necessarily become lawyers. They can build a career in the fields related to education, politics, business, paralegal and research, journalism, civil service, court administration and court officers.
The profession of Law asks for strong organizational skills and communication abilities coupled with a logical and analytical understanding. The legal system of a country is expected to peacefully resolve disputes while protecting societys best interests. The remuneration in this career varies and depends broadly on the specialized or general career you choose like in civil law, criminal law, income tax law, international law, constitutional law, corporate law, patent law, labor law, etc.
There are two ways of studying law courses in India. The options are:
-Pursuing a three year LLB after graduation, or
-BA LLB (Honors), a five year course after 10+2
You can also opt for two year Post Graduate Programmes in Law (LLM).
Usually, the scores at graduation level make you eligible to take up the law course but some universities conduct entrance tests like All India Entrance examination.
Further, one year internship is compulsory that may be completed in the final year of the course. These courses offer a combined theoretical and practical training that includes court attendance, legal aid centres and research projects.
The nature of forex trading is such that it can be perceived as gambling and made illegal in some countries. We are fortunate that this is not the case in India and many people are quietly making 1000′s on a daily basis.
Although forex trading itself is not illegal in India it can be difficult to profit from the limited currency pairs that you are allowed to trade. The Rupee currency of India is highly protected by the Royal Bank of India and exchanging it for other currencies is highly restricted. They have been more lenient with these laws recently as to aid the economy by introducing the financial markets, but the rupee is not a volatile currency so it can be hard to profit.
The forex market does not change wherever you are in the world, it still has trillions of dollars traded on it every day and it is still possible to trade 24 hours a day 5 days a week. There is no reason why Indian residence cannot take a piece of this action and in fact many of them are. Many Indians are joining the global financial market every day.
The spread betting companies in India might well be limited to the trading pairs that they can offer but it does not mean that people in India cannot go elsewhere to trade forex. Using a managed forex account is becoming increasingly popular as a method for residence of India to benefit from the complete forex market.
There is nothing illegal about using a forex managed account and it is the simple task of opening an account and giving it to a professional to trade on for you. The benefits include staying within the law and being able to have a much more profitable account in your portfolio.
You do not need to get involved in the task of trading yourself you can leave that task to the professionals. Simply sign the necessary paper work to give the account manager the power to use your account and watch the profits roll in.
It is hard not to see the benefits of using a forex managed account; for one the combined experience of the traders means you are getting profitable trades and not just lucky wins. It is important to remember that although the forex market can be very lucrative it can have a steep learning curve for the inexperienced trader.
There is no need to worry about money in your trading account as it can only be withdrawn to the card from which it was first deposited. All you need to do is sit back and allow the account manager to do his job and of course withdraw the money now and again.
India will definitely have access to the full forex market in the future as it is impossible for them to stay out of this huge earning potential. Until that day comes about using a managed account is the best way to see success in the market place.
Take advantage of the professionalism that is on offer with a managed account and see your investments grow for very little effort.
Have you been to a law firm office or have sough the services of a lawyer through a law firm? All over, you may notice many law firms advertising their legal services. However, do you really know the essentials about a law firm and its different forms and structures?
In many cases, they are attempting to sell you something that is overpriced and that won’t produce you any new clients at all, let alone good clients. The attorneys I have worked with report to me that the whole Internet marketing process confuses them.
When a client speaks to you from the heart, the insight you receive will be priceless. The marketing materials for that Century City law firm had previously emphasized their track record, their versatility and their willingness to be tough. Had they failed to incorporate this client’s insight, they would have missed a precious marketing opportunity.
Legal profession is also taken to be one of the services which is included in GATS. With the liberalization and globalization policy followed in India, multinationals and foreign corporations are increasingly entering India. Why should the firm outsource legal work offshore, a practice seen by some as adventuresome and risky, instead of staying the course, doing it “the way we have always done it.”
Clearly, this law firm was not well managed, which might serve as an excuse for the managing partner’s self-serving perspective on client IP legal services. It is imperative that attorneys understand this marketplace if for no other reason your potential clients and clients are moving to the Internet and yellow page advertising is a dying marketing for law firms vehicle.
Some might contend that complaints about the billable hour model have abounded for many years, but no major changes have occurred to date, thus indicating that most clients may be all bluster and no action. The legal profession as it was practiced years before by the legal stalwarts did have a very high standard. However, today that standard of profession is nowhere to be seen or experienced.
Firms fail to recognize that what a firm is can often be measured by the decisions it makes, and they often make decisions without regard to the effect they might have on clients, even in indirect ways. In many other countries, a rule is imposed that ownership interest or management of a law firm can only be given or done by lawyers. As such, the law firms’ capital through “initial public offerings” on the stock market, like most other corporations, cannot be raised immediately.
Nowadays there are multiple options to get information. We can get information in the form of books, magazines, newspapers and on internet. But most resourceful option is internet, because it provides vast and relevant information.
Legal research is a huge task, it requires lot of time. Law is straight forward; it needs a good and effective research. Taking the help of Legal Research services Company is the best way to save time and cost.
How it is useful?
If you are a beginner, then you may be unacquainted with important aspects of law. You already know that law is complex yet organized; in that case you cannot take risk. If you need to understand about some specific area of law relating to your business, you should better consult a skilled person who will make complex searches easy for you. Otherwise, you might waste many hours in hopelessly trying to do it by yourself.
Advantages of hiring Legal Support Services
It gives accurate information
Legal service providers are already skilled in their field and they also have experience thus you can trust them and can expect accurate research.
It saves your time
Its a huge advantage of employing these services. Doing by yourself can long take time as you are not aware of laws therefore, hiring a research company save your crucial time.
It helps to save cost
Legal research requires costly tools, hiring a legal outsourcing company can save your cost as well.
Its legal analysis is up to date
It helps to get recent and latest analysis as legal service providers are expert of the subject matter. They are also familiar with latest formats and amendments.
It provides team work of Legal researchers.
Team of lawyers working in legal research company dedicated their time and effort in understanding the law of a particular country according to the necessity.
Legal research services companies includes services like
Legal research- It includes research on laws and constitutions. It provides solution for legal resources, legal matters, and other related subject matter.
Legal drafting- It includes drafting documents like contracts, deeds and statutes based on legal facts, general principles and legal authority in plain legal language.
Contract abstraction-It is a cost saving method of managing contracts. Legal services companies deals with drafting agreements and legal contract reviews.
Lease abstraction- Lease Abstracts help the Real Estate companies make the data contained in contracts valuable; thereby, act as an important criterion in making commercial decisions.
If you want to employ quality services of an efficient legal research team then SunLexis as a legal outsourcing services company undoubtedly proves to be a good option. SunLexis a legal service company based in India consists of capable law executives with decades of domain knowledge that offers legal, paralegal and procurement support.