What Corporate Counsels look out for?

SKJ Juris Services Pvt. Ltd.Urban and Civil

Nov 7, 2019 (12 days and 17 hours ago)

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Corporate counsels in the U.S. have outsourced all non-core legal tasks to legal process outsourcing (LPO) companies causing a flurry of activities in recent time. The tasks which are generally outsourced are contract management and review, data analysis and management, document drafting and production, due diligence, general litigation support services, e-Discovery, Intellectual Property (IP) services, and legal research and transcription.

What Corporate Counsels look out for?

Corporate counsels in the U.S. have outsourced all non-core legal tasks to legal
process outsourcing (LPO) companies causing a flurry of activities in recent time.
The tasks which are generally outsourced are contract management and review,
data analysis and management, document drafting and production, due diligence,
general litigation support services, e-Discovery, Intellectual Property (IP) services,
and legal research and transcription.

What impresses the corporate counsels are cost-effectiveness (corporate can invest
its funds in other revenue generating activities); and superior quality of work
among other things. Besides that, corporate do not need to employ, manage, and
retain an elaborate staff on its pay-roll. By outsourcing the non-core legal tasks, the
corporate are left with quality time to attend to the core functions and successfully
manage other challenging projects.

However, before engaging a
legal process outsourcing
company, the corporate
legal departments should take into consideration factors like confidentiality,
conflict checks, supervision, reporting, and communication.

Corporate counsel has to ensure that the legal process outsourcing company
has proper procedures, and policies to maintain client and data confidentiality
besides robust conflict-checking procedures in place. It is equally important to
ascertain that adequate supervision and reporting structures, timely communication
exist in an ear marked legal process outsourcing company for maintaining a
smooth and efficient outsourcing process to avoid subsequent pitfalls.


What law firms look out for?
U.S. based law firms prefer to outsource basic legal and paralegal work to legal
process outsourcing (LPO) companies and keep professional work in the firms.
Over the years the law firms are reeling under pressure to minimize the cost of
legal work and LPO companies have presented them with an opportunity, which
the law firms have simply lapped.
The law firms’ decision to engage LPO companies are based on astounding quality
of work, impeccable turnaround and notable reduction in legal cost. For law firms,
the engagement starts by executing a master service agreement with a
LPO

company and tasting the water by assigning small projects to the concerned LPO
vendor. Once the confidence is built and a comfort level is established, the law
firms start sending legal drafting, legal research and other litigation support
projects.
In outsourcing legal work, the key concerns of law firms are conflict management,
security and confidentiality, quality of work and cost which LPO vendors should
be aware of and work towards improvement in quick time.
Besides, LPO companies need to understand the emerging expectations of law
firms and should try to offer right mix of delivery models, technology driven
processes, right mix of resources at a competitive price to attract clients.