Ironically, the rise of Legal Process Outsourcing (LPO) was due to a misfortune that had the financial world in convulsions not so long ago. It was the global monetary crisis that even brought economies of many nations to the knees. The huge exponential boom in the need for legal services mainly from individuals and companies that had gone bust had law firms struggling to cope with the huge rise in business.
Adding to the infrastructure in terms of hiring lawyers to cope with the rush was not advisable as nobody knew how long the demand would sustain. Further, apart from large firms, not many could handle the piling on of extra expenditure under salaries. The solution that law firms found acceptable was outsourcing legal processes and reaping multiple benefits from it.
What are the services that are generally outsourced by law firms around the world? The first is commonly termed support services since they prop up the actual cases on the floor of the courts. These can be broadly categorized as documentation, writing of drafts and briefs, conducting background research on points of law, maintenance of databases and other paralegal services.
All these can be comprehensively outsourced off shore as these are not linked with court appearances. The other is directly representing the client in court and this can be outsourced within the country only. Lawyers then can focus solely on obtaining incremental business and offering exclusive high quality client service while being in a supervisory role over regular activities.
Of all the legal processes a decision to outsource document drafting pays the richest dividends. There are a number of reasons for this –
- Time to focus on core activities – Drafting legal document is mainly about drawing up documents, contracts and agreements of any category in any form comprising of financial matters, purchase and sale agreements, employer and shareholder contracts or legal briefs and motions. The possibilities are limitless. Now all these require extensive research and precise legal terminology as any deviation can lead to protracted litigation at a later date if one of the parties exploits any flaw in the drafting. It is also a painstaking, tedious and time taking process. Instead of doing it themselves or blocking the time of highly paid juniors to do it, legal luminaries outsource this activity thereby getting time to concentrate on client servicing or getting high value business.
- Savings in costs – If man hours is to be taken into account, unit cost for the same work will be much less when legal drafting is outsourced off shore. When cumulative figures are considered this will show substantial savings in the long run which can be channelized into offering competitively priced services for attracting more clients. This factor especially came to the fore in the nascent stages of LPO during recessionary times when cost cutting measures was the much sought after solution for getting out of the financial downturns prevailing then.
- Professional expertise of outsourcing firms – The widespread outsourcing of legal research and drafting has given rise to a huge bank of lawyers on the rolls of outsourced firms who have a great deal of professional expertise in legal drafting. They are highly qualified and experienced in this field and keep themselves constantly updated with the laws and legal scenario of other countries. Any changes are instantly incorporated in their systems so that the drafts prepared are always accurate in law. So high is their credibility that not only law firms but blue chip and Fortune 500 companies too are today outsourcing their requirements of legal drafting while choosing to handle direct activities like court appearances through their in-house legal department.
- Speedy turnaround of draft preparation – Lawyers are always under strict time limitations and have to adhere to deadlines. Thus, speedy completion of any legal process is important for them. This is more so in the case of legal drafting where the very basis of an important case may depend on solid research and documentation. Now, if they opt to outsource legal document drafting , they can take advantage of the time differential existing between countries.
The particulars of the document that requires drafting can be sent to the outsourced agency at the close of business hours. It will be worked upon during daylight hours in the offshore country and uploaded back. Thus it is ready at the opening of business hours of the law firm. Quick delivery of services will bring in more high value clients and lead to business growth.
Outsourcing legal document drafting therefore is a win-win situation from whatever angle it might be looked at.
One of the acknowledged industry leaders in the field of drafting of legal documents is Cogneesol. We have years of experience in this field and our teams of lawyers are masters in legal interpretation of law. Over the years we have built up a reputation for timely submission of work entrusted to us, all at very affordable rates. To know more about our legal drafting services get in touch with us at firstname.lastname@example.org.