From The Economic Times:
"NEW DELHI: A slowdown in the US is giving a push to the Indian legal process outsourcing (LPO) sector. Indian LPO firms are reporting a rise of over 200% in revenues in the past 12 months as they see a dramatic rise in litigation, intellectual property infringement work and bankruptcy-related document drafting. The rise in new business from litigation is due to a crash in the stock markets post the subprime crisis, which led many stockholders to sue companies.
“We have seen a dramatic rise in business from the litigation and IP infringement verticals in the past three months as organisations look to make money form brand or IP infringements due to a slowdown in consumer spending in the US.
We have ramped up our headcount correspondingly by almost 50% and plan to scale up more in the coming months,” says Sanjay Kamlani, CEO of Mumbai-based Pangea3.
US companies are also looking to cut costs and offshore legal work to India as lawyers are one of the highest paid professions in the US. “A junior lawyer on the US east coast (where the major stock exchanges are located) makes about $1,65,000-$2,00,000 per year.
The same work can be done at one-tenth the cost in India. As companies look to cut costs we see a rise in our toplines,” says Matthew Banks, senior vice-president, Legal Services, Integreon.
Mumbai-based Integreon has about 420 associates in the LPO business and has seen an over 200% rise in revenues in the past 12 months."
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