Why Smart Businesses Are Outsourcing Legal Processes And You Should Too
by Mony Shah Business Development 31 August 2023
Let’s talk about something we all love to hate: legal complexities. Whether it’s contracts, compliance, or copyrights, every business has to navigate the convoluted maze of legal processes. But here’s the kicker—most of us didn’t sign up to be part-time lawyers when we launched our businesses, right?
Enter legal process outsourcing. This magical phrase could be the key to not only surviving the legal jungle but also thriving in your primary business functions.
In this article, we’ll unpack the what, why, and how of legal process outsourcing, so you can reclaim your time and focus on what really matters: running a successful business.
What Is Legal Process Outsourcing?
Alright, let’s get down to the nitty-gritty. Legal process outsourcing (LPO) is the practice of sending out specific legal tasks or functions to external service providers rather than completing them in-house. We’re not talking about shipping off your entire legal department overseas (although, hey, you could if you wanted to), but rather strategically delegating certain legal tasks to specialists.
A Brief History
This isn’t some trendy, flash-in-the-pan idea. LPO has been around for a while, gaining traction as businesses of all sizes recognize the value of focusing on their core competencies and leaving the legalese to the experts.
So, What Gets Outsourced?
Well, it could be anything from contract management, legal research, and due diligence to more complex procedures like litigation support. The services offered are as varied as the business needs they serve.
The Cloud And LPO
Thanks to cloud technology, it’s easier than ever to safely and securely collaborate with your LPO partner. Documents can be shared, edited, and signed off with ease, making the whole process streamlined and efficient.
Why Consider Outsourcing Your Legal Tasks
Alright, you’re interested, but you’re still on the fence. “Why should I outsource my legal processes?” you might be asking. Great question! Let’s dive into the perks.
Hiring an in-house legal team isn’t cheap. Salaries, benefits, and the inevitable overhead of having more employees can add up quickly. With legal process outsourcing, you pay for the services you need, when you need them—no more, no less. Plus, you can often find providers with different price points to match your budget.
Legal procedures often require specialized skills or knowledge that your existing team might not possess. By outsourcing to experts who live and breathe this stuff, you get the job done faster and often with higher quality. Imagine not having to pull an all-nighter reading up on compliance laws. Nice, right?
Legal errors can be costly. A mistake in a contract or a compliance oversight could result in fines or even legal action against your business. LPO providers are specialists in their domain, making it less likely for errors to occur. Plus, most reputable LPO providers carry insurance to protect against this very risk.
Flexibility & Scalability
Your legal needs will change as your business grows. Legal process outsourcing offers the flexibility to scale your legal capabilities up or down without the long-term commitment of hiring or firing in-house staff.
More Time For Core Business Functions
This is the golden nugget, folks. Outsourcing your legal tasks frees up your time and mental space to focus on what you do best—running your business, innovating, and growing your customer base.
The Nuts And Bolts: What Can Be Outsourced
Alright, let’s roll up those sleeves and dive into the specifics. Knowing what you can outsource can make the whole LPO journey a lot smoother.
This is one of the biggies. Drafting, negotiating, and monitoring contracts can take up a lot of time. An LPO provider can manage this entire life cycle, freeing you from the intricate web of legalese.
Intellectual Property Services
Trademark registrations, patent applications, and copyright issues are just a few areas where an LPO provider can offer specialized expertise. Save yourself the headache of sifting through tedious legal forms and let the experts handle it.
From e-discovery to legal research and documentation, the complexities of litigation require specialized skills. LPO providers can offer a range of services to support your in-house team or even handle the whole process end-to-end.
In an ever-changing regulatory landscape, keeping up-to-date can be a full-time job. Whether it’s GDPR for your European customers or HIPAA compliance in healthcare, an LPO provider can help you stay on the right side of the law.
Legal Research And Analysis
Need a deep dive into a specific area of law? LPO providers often offer specialized legal research services, ensuring you make well-informed decisions.
Choosing The Right Legal Process Outsourcing Partner
Ah, the million-dollar question—how do you find the perfect LPO partner? Don’t worry, we’ve got you covered with some handy tips.
Expertise And Experience
Look for an LPO provider with a track record in your industry. Experience matters, and knowing they’ve successfully navigated similar legal landscapes can give you peace of mind.
Reputation And Reviews
Do your homework. Check online reviews, ask for references, and don’t hesitate to reach out to their previous clients. A reputable provider should have a solid reputation.
This is non-negotiable. Make sure the LPO provider follows stringent data security protocols to protect your sensitive information.
Your legal needs might change over time, so look for a provider that can accommodate your evolving requirements.
Communication And Transparency
Regular updates, clear communication, and a transparent process are essential for a smooth partnership.
Cost And Value
While cost is a factor, remember that value matters more. Don’t just go for the cheapest option—look for a provider that offers quality services that align with your business goals.
Working with an LPO partner should feel like an extension of your team. Find a provider whose work culture aligns with yours.
Conclusion: Reclaim Your Time, Elevate Your Business
Outsourcing your legal processes can be a game-changer. By letting experts handle your legal complexities, you can redirect your time and energy toward growing your business and focusing on what truly matters.
Remember, legal process outsourcing isn’t about letting go of control; it’s about smartly reallocating resources to maximize efficiency and productivity. So, if you’ve ever found yourself drowning in legalese, it might be time to consider legal process outsourcing.
Here’s to a more streamlined and focused future for your business!