Top Ten Reasons Why Law Firms Should Consider Selective Legal Outsourcing
In the last quarter of 2008 America faces economic challenges never imagined even a few months ago. How will businesses manage and survive the limitations on credit, demand and growth? How does the economic downturn impact lawyers and law firms which service the business community? It is an obvious fact that businesses can only look at modifying two revenue streams, income and expenses, in order to increase profitability. If income is down and not expected to increase markedly in the near term, clients of law firms will take the hatchet to expenses in order to survive. Legal fees will be under extreme scrutiny. Legal outsourcing, while still a nascent industry, is gaining momentum, being considered in more corporate boardrooms. As the pressures to outsource build, lawyers ponder whether they should embrace outsourcing legal work offshore or resist it. In the face of global economic challenges coupled with the increasing loss of American jobs why would a U.S. law firm want to even ...