With a forecasted compound annual growth rate of 50 percent and a vast job opportunity of 32000 people, LEGAL SERVICE OFFSHORING (LPO) which is a division of knowledge process outsourcing offers a strong revenue source for companies.

Since 2005, the legal services off shoring has been growing by 50 percent annually due to the growing demand, vendor maturity and rising capability to offer higher value services. The LEGAL SERVICE OFFSHORING (LPO) sector has gained so much importance that the industrial players are on the verge of creating a National LEGAL SERVICE OFFSHORING (LPO) association.  

According to a recent study, it was reported that the current revenue from legal services off shoring are estimated to grow from USD 146 million to reach USD 640 million by the end of 2010. The number of employees employed in this industry is expected to grow from 7500 to 32000 by the end of 2010.  

The legal outsourcing industry can provide accommodation more than the present market demands since it hasn’t reached its saturation.

Market information in LEGAL SERVICE OFFSHORING (LPO) 

The legal services outsourcing industry has grown at 50 percent compound annual growth rate. The growth has been derived from increase in demand, vendor maturity and capacity of vendors to offer high value services. Legal process off shoring offers a wide range of services which includes legal transcription, document review, litigation support, legal research, intellectual property, contracts, secretarial and legal publishing services. 

While some dealers start by offering lower value services and gradually move up the value chain by representing domain skills and gaining client confidence, there are others who focus on specific high end services or niches. 

The dealer space has over 100 service providers that can be classified into three categories including captive centers of corporate, third party stand alone LEGAL SERVICE OFFSHORING (LPO) s and third party multi service providers. The LEGAL SERVICE OFFSHORING (LPO) space is governed by the third party dealers by employing the majority of the workforce in the sector. In terms of providing service and competence, the dealers with niche focus and multi-service providers vary specifically.  

Improving the market: 

LEGAL SERVICE OFFSHORING (LPO) as a growth engine for KPO providers has a long way to go. According to a research done, the current annual value of legal outsourcing which is worth USD 80 million can rise up to USD 4 billion by 2015. The LEGAL SERVICE OFFSHORING (LPO) centers have been expanded with a view to increase the investment in the high growth LEGAL SERVICE OFFSHORING (LPO) sector. Thus more and more value added services can be added to the current LEGAL SERVICE OFFSHORING (LPO) offering. 

An updated report states that services like legal publishing; document review drives the growth in the LEGAL SERVICE OFFSHORING (LPO) sector. High volume services like document review, e discovery, legal publishing as well as niche areas in intellectual property and contract services also act as drivers in the future growth in legal services off shoring. 

According to the market sources, LEGAL SERVICE OFFSHORING (LPO) firms are looking to set up the National LEGAL SERVICE OFFSHORING (LPO) Association. The Association will work towards creating standards for service quality and provide consistent training procedure for lawyers who intend to join LEGAL SERVICE OFFSHORING (LPO) companies. In fact such an association will provide basic training for lawyers and make acquainted them with international legal issues.