Legal Process Outsourcing: What The Modern Attorney Needs To Know
Chicago Daily Law Bulletin
June 30, 2014
Business process (“BPO”) and information technology outsourcing (“ITO”) have gained prevalence in the corporate world over the past decades. The main driver for a corporation is generally costs savings through outsourcing routine back office tasks. The legal counterpart to BPO and ITO is legal process outsourcing (“LPO”). In an increasingly tight legal market and with some sources estimating a market share of approximately $2.4 billion dollars globally and an annual growth rate of up to 60%, LPO is something attorneys should have an understanding of. This article will cover common LPO services for in-house and outside counsel as well as potential concerns attorneys may have with utilizing such services.