A recent article published in IP Frontline authored by Evalueserve co-CEO Alok Aggarwal details a revised, albeit tempered market outlook for the burgeoning LPO industry.
Due to mixed service lines, varied geographical delivery, lack of official reporting and general transparency the legal outsourcing market; it is hard for many people to get their arms around the LPO market. Compounded by the challenges of projecting market growth for a previously non-exist marketplace understanding legal outsourcing can be daunting.
I believe that hesitant adoption (relative to the early fantastic growth projections) onshoring and offshoring does not reflect the lack of potential in the industry for corporate legal teams and law firms alike. Rather, there are many legal, ethical and firm-integration issues that make LPO adoption slower than comparable forms of outsourced services. Furthermore, the legal profession and related industries were often the hardest hit in the recent economic volatility.
However, forward-thinking firms are now taking a serious look at legal outsourcing as they recognize the value-add (read profitable for law firms) aspect of outsourced legal services.
It is Fronterion’s goal to educate, inform and guide law firms and general counsel so they can take told of the many advantages of legal process outsourcing, while still maintaining a tempered view of the marketplace as reflected by the recent market outlook published by IP Marketline.
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