Opportunities such as these are now attracting many young yet experienced lawyers to join LPOs. Lawyers with LLM from international universities equipped with work experience in a law firm as well as some years in private practice choose to work for leading LPOs.
One of them said and I quote - Although legal profession offers a plethora of opportunities, the LPO industry offers a completely new avenue wherein a legal professional not only develops as a lawyer but also is presented with an administrative role.
Delving with business along with the legal nuances gives a bigger and intrinsic perspective to the legal scenario involved in global transactions. Further, it is a multi faced role which keeps fleeting from one client to another and never gets to be monotonous. Along with vast array of knowledge at the work place, the work life balance also forms a pivotal point for a bulk of lawyers transitioning to the outsourcing industry. The outsourcing industry provides more flexibility and a better platform to deliver than rigid and hectic schedules of a legal firm. A brand with some of the biggest names in the global business being its dedicated clients, offers the perfect platform to the legal fraternity to achieve the pinnacle of success in the outsourcing industry.
In the current scenario LPO industry is moving towards consolidation with recent mergers and acquisitions being indicative of this growth. This change is guided by the move to capture the global legal market share where LPO in India, according to some industry experts, alone is expected to reach USD $1bn by 2014, which is less than 1% of global law industry. Although this appears to be a small portion of the pie but undeniably is indicative of the huge potential of legal outsourcing and a glimpse of exciting times ahead.
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