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Indian law firms eye LPO business

May 12, 2010, 5:04 pm

The year 2006-07 saw large BPOs jumping into the LPO business. Now, its Indian law firms! There has been a visible increase in the interest level of Indian law firms in the LPO industry, over the last few years. Interestingly, over the last two years, about 15+ such LPOs joined the industry. Established players like Bodhi Global, Klexserve are some of the law firm backed service providers serving international law firms and corporations. Relatively newer companies like Lexplosion, Lexedge, Legal Circle, are attaining size and expanding their client base.

LPOs backed by law firms have the advantage of domain expertise from their parent company. These service providers are not only eyeing the international clientele (of their law firm), but also looking to leverage on the domain knowledge of their parent firm to serve the domestic (India) market.

Practicing law is the core business of law firms. Understandably, the billing rates of lawyers practicing law are higher as compared to those of LPOs. This raises an interesting question on the motivating factors for these firms to turn their attention towards LPO business.

India is one of the emerging economies, which is seeing continuous investments by global multinationals every year. The growth in the number of foreign companies entering India offers a chance for the Indian law firms to capitalize on their relationships with the multinational companies. Alternately, law firms are increasingly looking to set up teams of 10 to 15 members serving the international market with a view to establishing global presence. Given that international law firms cannot practice in India, many of them have partnerships with Indian law firms to service international business. Indian law firms will leverage their relationships to offer offshored services. Are Indian law firms approaching this venture as a means to build relationships with international law firms? Possibly! But these companies are surely adding to the competition in the LPO industry.

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