August 21, 2006
Law Firms to Benefit from Outsourcing
Outsourcing in legal sector is no longer a new word. Many companies worldwide are getting huge benefits from legal outsourcing. Indian law firms can earn up to $4.7 billion by 2011 by tapping into the massive $25 billion US legal off-shoring business. The Indian Legal Process Outsourcing industry targets at two big segments of the US legal sector. They are mid-sized private law firms and the US Corporations.
According to the estimates, the combined revenues from the private law firms and corporations could go up to around $4.7 billion by 2011-12. Read our previous post titled "Law Firms Contemplate Outsourcing" to know more about legal process outsourcing.
Crisil Research suggested that Indian firms must tap US mid-sized or large law firms in the first phase and incorporate in the second stage. There could be a substantial increase in Indian LPOs targeting US corporations as the industry matures, the report said.
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