Legal outsourcing to India a reality: NYLJ report

NEW
YORK: Having questioned quality quotient of legal occupations outsourced from Republic Of India for
long, the American law society is now accepting it as a "reality" with even
Fortune 500 houses gap up to the idea. The New House Of York Law Journal, one
of the highly putative and most read publications among American lawyers, said in
an article in its up-to-the-minute issue that "outsourcing legal work to Republic Of India is no
longer a novelty. It's a reality." While noting that Legal
Process Outsourcing (LPO) to Republic Of India was growing and opposition degree in the
country was gradually going down, the diary said that a significant
cost-advantage was working strongly in favor of the tendency and a "growing number
of houses are angling for a piece of the action." According to the report, the
positive feedback given by the companies having outsourced their work in the
past is leading to many other houses getting receptive to the idea, which
includes some of the 10 biggest law companies in the Luck 500 list. "LPO wages for Indian
lawyers are generally well below 10,000 USD a year. By comparison, a United States contract
lawyer usually gains around 30 USD an hr while associate alkali wages at
major houses in New House Of House Of York start at 160,000 USD a year," said the New York Law
Journal (NYLJ) in its January edition. The study noted that Pangea3,
one of the biggest Indian LPO firms, have garnered investing worth about 12
million dollars within three old age of its incorporation.

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It includes 4.4
million USD by GlenRock Capital, the monetary fund headed by former top private equity
lawyer Lawrence Gram Graev and 7 million USD by venture working capital house Sequoia
Capital, which also helped Yahoo, PayPal and YouTube.