Category Archives: Legal Coding and Indexing

Legal Coding and Indexing

LPO role in contract management

What Role Does LPO Companies Plays in Contract Management?

Contract management services are of great importance, especially for small businesses. It involves various processes like assisting with drafting standard contracts, creating and managing databases and repositories, contract reviewing as per standard position and map deviations, analyzing contracts for specific compliance or other requirements, redlining and negotiating agreements as per standard position, capturing, abstraction and summarization of key information etc. The contracts are used by small business owners to give their relationships with external parties a formal look. A poorly defined contract could easily lead to a dispute between parties and could result in filing of court petitions. In order to avoid any challenges in the future, the right strategy needs to be followed.

The legal process outsourcing companies can help in the contract management process in the following manner:

Properly recognise the nature and scope of the relationship- Many in-house staff members find it difficult to understand the limits of the contract management process. For example, if a financial services company has been offering accounting services to a wholesale store for a couple of years and now the wholesale owners are also asking for other services like tax filing etc., then it is important for both the parties to enter in to a proper contract in which the duties which one party needs to perform for the other are clearly specified. The differences between the previous arrangements between the two sides and the new engagements should be clearly defined. A LPO company can play an important role in this regard.

Cost Effectiveness- By hiring the services of outsourcing legal firms for contract management, a small company can reduce its overhead costs. The outsourcing firms based in nations like India, China and Argentina etc. charge a much lesser remuneration than the local rates in developed nations like US, UK etc. So for small scale business firms looking for cost cutting measures, this is an ideal option. You will get high quality work but at considerably lesser price.

Ideal in Cases of Urgent Requirement- The LPO firms based in offshore nations like India, China, Philippines etc., can prove to be extremely beneficial in cases of urgent requirement. There is a 10-12 hour difference in the time zones of nations like US, China etc., and nations like India and China which offers the unique benefit of assigning the contract management tasks in the evening and getting the desired results by the morning.

Ensuring the Right Agreement of Both Parties- Generally parties enter in to disagreement with each other due to misunderstandings. The LPO firms can help in preparing contracts based on mutual understanding between both the parties and ensuring that there are no future disputes between the parties. All the crucial points will be discussed before commencing the contract preparation process.

Helpful in Dissolving Disputes at the Later Stage- There is always a chance of disputes arising later on between the two parties despite immense care being taken while preparing the contract. The LPO firms offer contract reviewing as per standard position and map deviations services to the parties which can help in ensuring cordial relationships between the parties.

Going through the above mentioned information can enable small business organizations to understand the importance of LPO services for contract management.

LSW is one of the leading providers of outsourcing legal support services to law firms looking for lesser operational expenditure and revenue optimization solutions. In the last eight years, they have earned the goodwill of their clients by adhering to deadlines and the desired quality standards. They have access to proficient staff and the latest software for fulfilling the needs of clients.

To get more information, contact us at info@legalsupportworld.com

Or call us at +16466882821.

Legal Support Services For Lawyers

Legal Support Services – The Real Path to Profits for Law Firms

The legal sector much like similar service-centric industries have slowly but surely imbibed the value of outsourcing. But unlike others it had not been quick on the take off and the full benefits were only realized with the global economic crash in the mid 2000s. Legal firms, faced with the meltdown found it hard to cope with the rise in litigation cases while keeping costs down to manageable levels. Hiring of legal luminaries was not a solution if highly paid lawyers had to attend to mundane duties that primarily comprised of a supporting role instead of carrying out tasks related to core competencies and offering high value service to fresh business. Thus the real path of business expansion, growth and profitability lay in outsourcing legal support services and today this field is almost as big in size and turnover as the main legal industry.

Before deciding to opt for outsourcing, you have to very sure of what you want out of it. The most important is of course reduction in costs in maintaining support services, both in relation to hiring qualified manpower and investment in infrastructure to run them. The second is being very clear about what you want to outsource that will save time and energy and help you focus on the primary tasks at hand. The core of all legal activities per se can be categorized in two – documentation, preparation and writing of briefs, carrying out research and other similar work on one hand and court appearances on the other. To reach your objective of exponential growth in business, you should opt to outsource comprehensive legal support services.

What then are the services you can outsource and yet ensure that your legal firm runs without a hitch – in fact more efficiently and profitably?

Research and writing – This is standardized work that requires no special discretion or interpretation of law by a top notch lawyer. As research is on laws that are already rigidly laid down, the scope of any discrepancies in research findings are almost eliminated. Thus you will do well to outsource such tedious activities as research for preparation of motions, appellate briefs, legal memoranda, letters and notices as well as structuring motions and pleadings, complaints and background information for trial preparation. Outsourcing these specific activities will save you a lot of time and costs as these services are available offshore at very affordable costs.

Contract Management – Any law firm has to deal with hundreds of contact and if you have to go through all of them with a fine tooth comb you’ll not have time for anything else. Moreover, managing the database of contracts, negotiating and maintaining the contracts, and ensuring that all clauses are client welfare centric is an onerous responsibility. Professional legal support services have the expertise to carry out these functions effectively not only in the initial stages but during the life cycle of the contract too. Choose an outsourcing company with experience in handling contracts related to various sections of laws – Family Law, Property Law, Employment Law and those related to trusts and estates or securities. You can even look for specialization in outsourcing agencies that match your primary area of activities in law.

Review of Documents – This is another key area that you’ll do well to outsource. It’s a highly manpower intensive work but very important nevertheless. Agencies who have long years of experience in legal outsourcing have expert document review teams who can carry out related activities with great professional skills. This includes coding of documents, preparing deposition summaries, reviewing the document database with definitive point specific issues and finally facilitating putting forth an evidential database.

Read Also :  What to Take Care of When Outsourcing Legal Support Services?

One thread runs common through the different factors given above and that is, each point contributes to cost savings as you don’t have to put in place any infrastructure to take care of them. This will increase your profitability and have a positive impact on client servicing and business growth.

Outsourcing Legal Drafting

Outsourcing Legal Drafting is a Wise Choice – Here’s Why?

Opting for outsourcing legal drafting services by business establishments which commonly need and utilize any kind of legal documents such as employment contracts, sale or purchase contracts or leases and contracts oftentimes turns out to be an extremely wise choice. A lot of companies are lacking a separate legal division and make an effort to draft the documents on their own, which possibly uses up a considerable amount of time or might result in errors triggering devastating outcomes. Making use of expert and qualified drafting services guarantees that your work is going to be carried out in a correct manner and in a reduced amount of time.

Generally, large-scale legal firms and regional solicitors do not focus on drafting work and those that do usually ask for a crazy amount. As a result, one of the most effective alternatives is to outsource legal drafting services to an offshore company. Certain internet sites likewise offer free of cost software programs or tools for specific drafting preferences however they are generally not 100% precise. Whilst, a few other sites contain huge databases of free legal documents that can be saved and printed after which the users can make the required modifications or complete the blank areas according to necessity; however these techniques are merely a solution for straightforward and general documents.

Legal drafting is an exhaustive procedure which demands paying close attention to details to generate error-free immaculate documents. Legal drafting procedure takes care of editing, proofreading, copy editing documents and reviewing for errors in pre-drafted documents and then re-drafting them as needed. Attorneys, judges as well as other legal workers handling exclusive or complicated documents give preference to outsourcing their drafting work to expert legal process outsourcing companies for their comfort.

With far-reaching hands on practical knowledge, outsourcing companies offer customized solutions at economical costs with a quick turnaround time. These companies will often be able to perform faster as compared to a solicitor since they are actually knowledgeable about the areas of law and do not have to perform an intensive research to be able to get the job done.

Legal Drafting Services Provided By Outsourcing Companies:

  • Writing of summons as well as deposition notices

  • Drafting of deposition queries and parameters

  • Drafting of terms and conditions and also motions

  • Making interrogatories

  • Drafting, re-drafting and proofreading of aesthetic real estate documents

  • Composing memorandums of law

  • Analyzing, reviewing, consolidating, indexing and systematizing legal documents

  • Examining and preparing responses

  • Drafting briefs and legal memoranda

  • Drafting letters in accordance with the client’s directions

  • Drafting discovery documents

  • Drafting letters of settlement and compensation contracts

Read Also :  Review And Management Services: How Can it Benefit Legal & Business Firms?

Businesses offering specialist and skilled legal drafting services are seasoned and capable of offering customized solutions for various necessities of the numerous clients.

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