Outsource These Top 5 Legal Services and Benefit Your Startup at Low Cost
Legal Services Outsourcing (LSO) refers to Legal Process Outsourcing (LPO) which is the most usually outsourced practice to operate a business efficiently with no legal trouble. However this market segment has totally changed in the recent years with the rise of new technologies that help businesses to cut the cost along maintaining a cordial relation with local legal departments and authorities.
The LPO industry has emerged as fast growing industry with abundant low cost services and technologies for small businesses as well as for vendors who are delivering services in this segment. Nonetheless, every business needs LPO service at all stages.
When Exactly Do You Need A Legal Services Provider For Your Business?
Avvo, Inc. study reveals that maximum SMEs avoid hiring legal consultants as they consider it a luxury used by established businesses. For saving cost and time, many of them prefer to do legal works by their own. It’s good to do the works related to company registration and employee handling by your own in a personalized and cost-effective manner but don’t overlook the requirement of legal advice as sometimes it lead to expensive consequences.
When you find that local authorities and state government entities are investigating your business for violation of any laws, discover which legal services provider firm is a better fit for your requirement. Hire legal services provider firm right away before you may penalize.
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Understanding Legal Services Outsourcing or LPO
A business dispute, an ADA complaint filing from employee and a lawsuit from business associate or customers are some legal issues faced by small business owners. Legal service provider companies help to deal with all these issues successfully. They also help in contract drafting, contract review, contract management and providing many other critical elements related to the liability of business and related things.
Apart from this, there are many other routine business matters where they play major role and protect brand reputation and image in the market. See the below given picture and get the insight of LPO to understand it easily what really it is encompasses of.
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Get the Indian Legal Services Market Insight
The Indian legal services outsourcing industry is growing fast because of high demand particularly from SME segment. The industry has undergone tremendous changes in past few years and a number of industry leaders have started offering different legal services at cost effective prices.
In addition, the Indian government has also taken different initiatives to push this segment and help SMEs and big companies who face a number of challenges when dealing with legal issues. In overall, the industry is growing fast because of entry of many international players.
What are the Key Rewards of Outsourcing of Legal Services?
Well, the aptitude to outsource these services can benefit small and big size businesses in a number of ways. It is a great way to fulfill all legal demands to run a business smoothly. However the key advantages of outsourcing of legal services are several. Some of them are given below:
- Ensure High Quality Legal Support with Zero Per cent Doubts: LPO firms have the team of fully licensed experts who ensure the delivery of high class legal services without troubling you or your company’s regular work.
- Enhance Savings: Outsourcing of legal services could help small businesses to save up to 30% to 80% of total cost required for developing an in- house legal services department or team. However the percentage of savings will depend upon the type of services and the segment of market you are doing business.
- Offer Flexibility: LPO firms can be used as per your own convenience and business need basis rather than wasting time and efforts in managing workflow from a full-time in-house team.
- Add to Efficiency: LPO agencies use modern technology which is specifically designed to manage and streamline the legal tasks and paper work involved to complete a legal work.
Key Types of Legal Services and Players for Outsourcing
Some important services of LPO include company formation, IPR, trademark, patent, corporate laws, due diligence / legal audit, litigation ad arbitration etc. The below services are also included:
- Advising clients
- Bookkeeping and billing
- Contract management & review
- Pre-litigation documentation
- Patent application drafting
- Analyzing drafted documents
- Legal research
- Drafting distribution agreement
- Licensing agreements and many others are also come under legal services’ category.
Broadly these services’ providing companies can be divided into 3 categories
- Full BPO/KPO Service Providers
- Full Spectrum LPO Service Providers
- Limited Legal Support Service Providers
Top 5 Legal Services You Should Get to Know More about Them
#1. IPR Legal Services
IPR is known as Intellectual Property Right that is used to protect owned property rights. The intellectual property items include new creations, inventions, designs, technology etc. If you choose to hire IPR consultant, it will save you from a lot of hassle related to copyright protection. These firms also take care of copyright assessment, software copyright, transfer of a copyright, violation of copyright and many more. It is accepted across the world because:
- It provides credit to the inventors and creators
- Guarantee substantial reward for intellectual property.
- Make possible original products availability
#2. Trademark Legal Services
Government policies have made compulsory the licensing of trademark for every business. If some other person or businesses use your trademark, this will ruin your brand or business image very easily. So that licensing of trademark is very important for every business.
Trademark could be anything related to the origin of the goods and services. It can be name, logo symbol, color and many more that give you a different identification in the market and keep apart from your competitors. If you choose a legal firm for trademark it will benefits you several-fold:
- Consumers can identify and distinguish you quickly
- It improves the brand loyalty as consumer can identify your products easily
- It offers a monopoly power over your identification mark.
#3. Patent Registration Legal Services
Unlike other services, patent registration also requires legal support. Government grants copyrights or patent to inventors for a certain time period so that other cannot use this. Legal services outsourcing firms’ help business in filing of patent application and registration appropriately. The application for granting a patent is compulsory to be filed according to the certain legal instruments and under the guidance of legal advisor. So when applying for a patent, consider hiring a firm because:
- They conduct all preliminary patent searches for you to make sure that your idea is not copied one.
- When patent is granted, different legal formalities are fulfilled by these firms
#4. Litigation and Arbitration Legal Services
These firms will address legal disputes related to your business with in-house team and cross-border. The minimize risks by resolving issues to ensure smooth growth in your business. The legal firms are the best choice to handle litigation and arbitration because:
- Guide to avoid the mistakes when entering into new jurisdiction.
- They understand legal practices best for resolving any dispute under jurisdiction
- Help in knowing the risks when you are thinking to expand your business in new areas, states, and countries.
#5. Corporate Laws Legal Services
Corporate legal advisor works to ensure that no business law is violated in anyway. These legal services provider are not limited to a particular area but they generally cover employee issues, employment, governmental compliance and many more. These firms are approved by the state’s bar associations and carries license to practice and offer services to the business houses. When you think of hiring a corporate law consultant, consider a wide-ranging knowledgeable one so that it can help in:
- Structuring a company
- Making business strategy
- Business operations after an in-depth analysis etc.
There are thousands of legal counsellor companies across the country that claim to deliver high quality legal expertise and even free legal advice for business. So use the SME Joinup as a resource to have full information about the top players to hire for your legal requirements.
SME JoinUp Could Be a Right Source for Hiring an Ethical LPO Firm at Low Cost along Free Business Advice
While with an increase in the number of LPO firms in the market, finding a trustworthy and appropriate legal service provider can be difficult every now and then. So to make a legal firm selection process easy for small businesses, SME Joinup is offering a full-fledged consultancy to overpower the complications that small businesses generally face during the selection of right legal professional agency.
It has confirmed a number of agencies from across the country and shortlisted some of them which follow ethical regulations regarding the delivery of services.
Top Legal Services Providers that are Helping SMEs in India
The following mentioned firms are committed to helping SMEs and big business houses grow with peace and at low price. They all are well known companies based in the different cities pan India.
Vakilsearch delivers a wide range of outsourced LPO services with a number of value added assistance to the small and big businesses as well as individuals. The firm believes in undertaking entire legal work of a company thereby to ensure no violation of laws and set policies. Every year it reaches out to a hundreds of SMEs who seeks quality legal advice for business at low budget. The firm offers services to Private Limited Company, One person Company, LLP Registration, Sole Proprietorship and partnership firms etc. It ensures registration of any type of a company within 15-25 days and trademark registration within 3 days. It also helps in legal documentation from making a Non-Disclosure Agreement to Share Purchase Agreement. It is also affiliated by the CII to offer legal services or advice to all its members and associates.
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Starting Business Services at a Glance
- Trademark and Copyright
- Business Registration
- Legal Documentation
- Mandatory Compliance
The Chugh (Universal legal) has dedicated experts’ team who are Certified Public Accountants with an elaborated understanding of all the legal issues and the complexities of legal needs of a business.
The company assists businesses in Taxes issues, Litigation, Transactions, Corporate & Family Law, Mergers & Acquisitions, Bankruptcy & Restructuring and Business Transactions in India, U.S. and Mexico. The company was established in 1985 and have presence pan India with the well established offices in the cities like New Delhi, Mumbai, Chandigarh, Bangalore, Chennai and Ahmedabad.
Corporate Legal Services at a Glance:
- Corporate formation and formalities
- Mergers and acquisitions
- Joint Ventures
- Employment law and issues
- Bankruptcy law
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Sai & Mehta is next legal services law firm of good reputation in the India market. It was established by a group of experienced advocates with over one decade experience in legal services. It servers for the Indian as well as International clients to deal with a variety of Corporate and Intellectual Property related legal matters and many more. It understand the South Asian jurisdictions well and serves mainly for the businesses based in Pakistan, Bangladesh, Nepal, Sri Lanka, Bhutan etc. through its agents’ network.
Corporate Law Services at a Glance
- Trademark Dilution
- Domain Names
- Industrial Designs
- Copyright infringement disputes and lawsuits etc.
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Select Maple Tree and take advantage of experts’ team with over 23 years experience. It is one of the oldest legal service Provider Companies in India that has experienced staff to deliver corporate legal services. The company ensures the delivery of quality legal services right from the starting business in India to become a market leader.
Business Formation Legal Services at a Glance:
- Entry Strategy
- Local Business Set-up Strategy
- Pre-Investment Advisory
- Entity Formation
- Business Registrations
- Ongoing Business Support
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Legal Fin is one another trustworthy player associated with SME Joinup. It has a team of professionals who are geared to deliver personalized legal business services in an efficient way. It has wide extended network covering pan India. You can find its offices in the cities like Delhi, Gurgoan, Noida, Ghazibad, Bareilly, Merrut, Lucknow, Chandigarh, Jaipur, Haridwar, Rudrapur, Dehradune, Shillong, Ranchi, Ahmedabad, Goa, Banglore, Kochi, Chandigarh ,Jaipur Mumbai, Hydrabad, Pune, Chennai and many other locations.
Business Formation Legal Services at Glance
- Establishing business in multiple jurisdictions
- Establishing a registered office
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Tips To Hire an Efficient Legal Services Provider Company to your Business
It makes sense to know all about the legal services providing before hiring. Smart questions’ asking is very important when thinking of hiring a legal services provider company. If you follow the following tips, it must make the process of hiring of a legal company easier for you.
Key questions to Ask
- How old you are in this domain and ever handled the business like yours?
- Ask about the existing clients list to ensure top quality legal services. Who are the clients from the same industry?
- Ask for references, you might know any of them?
- Review clients feedbacks and ratings apart from considering you other business partner advice.
- Law and regulations vary state-wise so ensure that which firms you are hiring have good exposure or access to all states.
- Ask about the fee the firm will charge for services. Does it charge additional amount for your state?
- What would be the process of payment – monthly or quarterly?
- Read contract copy minutely to understand each and every term and condition. Choose a flexible contact firm rather than signing a bound.
- How easy the access of this firm? If it belongs to the same location it will save your extra money spending and time.
- What services are offered for a particular fee package?
- Do you entitled to receive some additional benefits for same membership fee you have paid? Or, do you need to pay extra amount every time when seek legal advice?
- What would be the way of communication for future contact?
SME Joinup is here to make hiring of a legal services providing firm simple in India
We understands SMEs’ needs and believe in that legal cost shouldn’t be an over burden on them as money is very important especially during initial days of starting a business. Most of the consultant firms mentioned here offer reasonable priced packages for different legal works.
As with all this information also ask your question directly to company to find out that is it a real fit for your business. Do you still have any specific question related to outsourcing of legal services? We would like to help you out.
Kindly mail your queries at firstname.lastname@example.org or call on 07838006101, 08378977112 services helpline numbers. Additionally, by leaving your info in the attached form you can get free consultation from SME Joinup within 24 hours.
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