Description
Based
on a research study available on Radiant Insights, Inc.; the legal outsourcing
market is predicted to experience a rapid growth during the forecast years
(2017 to 2022). Legal outsourcing, also known as Legal Processing Outsourcing
(LPO), is the practice where a law firm gets legal support services from any
external law organization or LPO service provider. A common LPO model includes
an arrangement between an LPO firm established in an emerging region and a foreign
or external law company
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LPO
services are characterized by the need to reduce the costs of legal services.
Thus, many LPO service providers are following a practical approach where they
train their workers on particular legal engagements. The industry has witnessed
a number of developments, for example, Perry4Law’s Techno Legal Base (PTLB)
recently released the world’s first disruptive LPO model— globally known as
PTLB LPO. This disruptive legal outsourcing model uses ICT4D for legal services
focusing on avoiding waste of efforts and time. It can also help reduce overall
legal expenses.
The
level of convenience offered by this LPO model for creating a support ticket is
considered remarkable, which encourages foreign firms to adopt it, states the
company. It also states that, the new LPO model would not only support new
clients or customers but would also benefit the existing ones.
According
to the company, the PTLB LPO disruptive model can also create a fresh market
and value network while eventually disrupting the present LPO market and value
network. It is believed that the constructive incorporation of new, existing,
and future innovations of the model could enhance the economic benefits of the
current customers.
Increasing
requirement for efficient usage of resources is predicted to positively affect
growth of the global legal outsourcing market in near future. In addition,
rising costs of legal proceedings caused firms to outsource such services is
contributing toward the expansion of this market. Elevate Services, Inc.; Cobra
Legal Solutions LLC; Infosys Ltd.; CPA Global Ltd.; and AmStar Litigation
Support are some of the leading companies in the worldwide market
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Insights, Inc. offers personalized and syndicated research reports, as well as
consulting services, for a wide range of industries such as Energy, Materials,
Technology, Chemicals, and so on
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Radiant
Insights is a market research and consulting company offering syndicated
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research studies are designed to facilitate strategic decision making, on the
basis of extensive and in-depth quantitative information, supported by
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industries such as Technology, Chemicals, Materials, and Energy. Radiant
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global experience helping us deliver excellence in all research projects we
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