Indian LPO firms continue to flourish
Legal process outsourcing has been a hugely successful addition to the Indian economy, and is expected to earn more than US$1 billion in 2014.comments powered by Disqus
Legal professionals working for US and UK law firms to do simple tasks like drafting contracts, reviewing documents, and basic due diligence might charge somewhere in the vicinity of US$10 an hour - a fraction of the fees charged by a US lawyer with similar experience, who might be paid US$400 an hour.
There are about 950 law schools in India, which churn out around 60,000 law graduates each year. The legal profession as a whole includes 1.2 million registered advocates. Many of these lawyers find work in the rapidly growing LPO industry, which has grown from 50 LPO firms in 2005 to 140 this year.