Word: legalism
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Dates: during 2000-2009
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...obligated to do what's best for his clients, "and that includes saving them money." So when one of them asks him to research a securities-fraud topic, for example, or breach of contract, he doesn't even think about applying his $395 hourly rate. Instead, he calls Atlas Legal Research, an outsourcing company based in Irving, Texas, that uses lawyers in India to provide the service for $60 per hr. "When a client pays me a $25,000 retainer and I can save them money, I will do so," says Alexander. Handing off the work...
While the Americans learn, well-trained lawyers in secure offices in Mumbai (formerly Bombay), Bangalore and Gurgaon (outside Delhi), who typically earn $6,000 to $30,000 annually, do legal grunt work. Alexander's sentiments may explain why outsourcing is blossoming in the legal profession, which is known--and often despised--for its high prices. Law-firm partners bill at a national average of $318 per hr. and at $550 per hr. at large New York City firms, according to a 2007 survey by Altman Weil, a legal-consulting company. Starting salaries for attorneys at some large firms now stand...
...considerable savings is perhaps one reason Forrester Research, based in Cambridge, Mass., has projected the offshoring of 29,000 legal jobs by the end of the year and as many as 79,000 by 2015. It's part of India's inevitable move up the corporate food chain, from lower-value business process outsourcing--like call centers--to knowledge process outsourcing (KPO). The latter category encompasses higher-skilled jobs, such as engineering and medicine, and relies on the KPOs to behave more like branch offices of U.S. companies...
ValueNotes, a business-research firm based in Pune, India, says a subset of KPO called legal process outsourcing (LPO) has grown revenues 49% from 2006, to $218 million last year. The figure will nearly triple, to $640 million, by 2010, it says. ValueNotes counts more than 100 legal-services providers in India, ranging from a handful of overseas corporate legal offices, such as Oracle's and General Electric's, to companies that contract to provide low-cost legal services to U.S. and British businesses. Leaders include Integreon and LawScribe, both in Los Angeles, and New York--based Pangea3...
...service costs about $1 per page in India but can range from $7 to $10 per page in the U.S. "Some clients don't want to spend that much, especially if they don't even know how much their damages could be," says Conrad Jacoby, owner of efficientEDD, a legal-technology consultancy in Dunn Loring...