In the recent years, consumers have been pushing the downward trend in pricing and this has made corporations struggle for their survival. A growing concern of corporations in this era is increasing legal costs and the efforts to contain this cost have brought about the concept of legal process outsourcing(LPO). Favorable government policies are one of the key factors driving the growth of LPO. Further, the rising awareness among general counsels and general public is aiding in the growth of this market.
Moreover, increasing technology applications such as offering highly secure enterprise class software including features such as portal website, collaboration, and document management market presents an opportunity for vendors.
E-discovery was the most popular platform being deployed in LPO industry while litigation support, intellectual property (IP) support, contract drafting and review are among other major services being offered. Electronic documents contain a large amount of data and metadata and identifying and producing this information may often prove burdensome for in-house legal department.
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The challenges to the growth of this market are concerns regarding security and confidentiality, quality and ethical implications. However, the marketplace has matured and many such concerns are being put to rest. Corporations are gaining from renewed incentives in assessing the value of a balanced outsourced and in sourced legal support model.
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Corporations today are taking a thoughtful approach toward LPO in order to achieve potential cost savings, focus their in-house legal workforce on higher workloads, improve service levels, and creating supplementary capacity for unexpected legal needs.