This has led to the creation to a separate type of outsourcing services known as legal process outsourcing that deals exclusively in professional legal assistance to the clients. These offer more customized services to clients at much cheaper costs. The major services provided in LPO centers are as follows:
This essentially involves extensive legal research assistance provided on the basis of high end electronic databases. Accurate summaries of all depositions are drafted according to meet all legal parameters. This is done on the basis of legal citations and briefs search conducted by legal experts. Legal transcription of the cases and different contracts is an integral aspect of litigation support.
It is very important to take into consideration every possible detail during a contract review procedure. KPOs provide services that help in drafting the necessary documents required to complete the review and pointing out necessary legal intricacies to in-house lawyers of the clients. All legal and practical aspects that will emerge due to the implementation of the contract is suitably addressed and negotiated during the review to grab the best deal for the clients. Knowledge process outsourcing professionals need to be experts in both language and analytics to conduct such reviews.
Drafting and Management
Drafting and management of all legal documents including case studies is a very important job that is best done by professional marketing research analysts who specialize in legal procedures. Management of legal documents involves indexing and scanning of documents along with subjective and objective coding. Some documents need format conversion, bate stamping, and redacting. Drafting and finalizing of client and witness interviews are also conducted by LPO services.
Corporate Due Diligence
Corporate due diligence involves review of financial statements, business plans and other documents before the contract is signed between two companies. This becomes highly crucial in cases of mergers and corporate acquisitions. A checklist is usually created by the party conducting the due diligence. The information is partly provided by the target company, and the rest is researched by the legal experts. This is also applicable in real estate acquisitions as the legal research brings out any flaws in the documents of the property in question. However, since many professionals working in KPOs have migrated from BPO services, the qualities of reports submitted have to be re-reviewed repeatedly.
Legal and regulatory research
This covers all aspects of legal procedures that a client company will need to complete during different business dealings. Knowledge process outsourcing also works with in-depth and strategic information collection. They also help in preparing briefs, motions, memoranda, or pleadings for the trials and formal presentations. Appellate records, case pulls, legal citations, and briefs search are all covered in research.
Thus, LPO services have turned out to be a major modification in the outsourcing fields of KPO services. It is also one of the most important forms of knowledge process outsourcing. IT companies are already into BPO services in a big way. They are now venturing into the intense field of document management.