Don’t be surprised if you hear of an Indian lawyer who helps litigate a British firm’s law suit or a Chinese one managing contracts for an American corporation. After all, such is the evolving trend of outsourcing to combat costs of legal reviews and advice.
Welcome to the world of LPO – Legal Process Outsourcing where lawyers from India, China, Philippines and Argentina and Singapore provide their services to other law firms or corporations worldwide. Such services include litigation support, financial reviews, contracts management, drafting negotiations, legal content publishing, legal research, managed reviews, document review/ E-discovery, etc
Trends suggest that as much as 9000 people are employed in this market which is of a size that equals $1.1 billion annual sales; growth rate has been 32% in each of last 3 years and the projected growth rate will be over 30% for the next years.
In the year 2015, market size is projected to leap up to an equivalent of $2 billion annual sales.
Is this the trend to stay or is this a phenomenon that shall weed away gradually with time?
We shall wait.