As LPOs establish themselves globally, a clear group of leaders has emerged. India Business Law Journal profiles the winners and their tough competition
This year was a watershed for the expanding legal process outsourcing (LPO) industry, at least by one measure. Pune-based consultancy ValueNotes Database estimates that the annual global market in outsourcing legal processes passed the US$1 billion mark in annual revenues during 2012.
The position of LPOs in the global marketplace is looking more secure as each year passes and 2012 saw a number of important events. The industry received a confidence boost in August when the commission on ethics of the American Bar Association (ABA) changed its Model Rules of Professional Conduct to clarify lawyers’ obligations when outsourcing legal work.
The revisions set out for the first time certain practices involving LPOs. For example, lawyers should obtain informed consent from a client before retaining outside lawyers. “The … proposals respond to the existence and continuing growth of these practices and are intended to clarify a lawyer’s obligations in this context,” the ABA said in a statement.
