Posted on 11/28/2008 7:26:06 AM PST by KeyLargo
* NOVEMBER 26, 2008, 3:04 A.M. ET
With Times Tight, Even Lawyers Get Outsourced By NIRAJ SHETH in Mumbai and NATHAN KOPPEL in New York
As the economic crisis deepens in the U.S., some lawyers are making out well -- in India.
At the Mumbai subsidiary of outsourcer Pangea3 LLC, rows of Indian lawyers at new computers pore over contracts, covenants and other financial documents. They're working for Wall Street banks fighting lawsuits filed in the U.S. by homeowners, investors and shareholders after the subprime-mortgage crunch.
As the ailing U.S. economy prompts companies to cut costs, it also has spawned legal problems. As a result, clients are pressuring the law firms they hire to trim fees.
(Excerpt) Read more at online.wsj.com ...
Obama supporters getting outsourced!
In downturn, litigation bonanza for Indian legal outsourcers
http://www.livemint.com/2008/11/26010816/In-downturn-litigation-bonanz.html
After several hundred years of working under British standards and traditions, the folks involved in Indian jurisprudence definitely have a good background to do this.
Computers and modern communications systems make it possible to outsource just about everything but courtroom appearances, but that's on the way!
Good grief - It’s hard enough to get my cell phone bill squared away, imagine trying to translate the fine points of a contract in legalese with them...
silver linings and all that.
Durham’s future?
This is poetic justice as the lawyers were among the first to outsource work to India (paralegal work)
Does anybody know the lawyer equivalent of rent-a-coder?
...at my daughter’s Washington,DC firm they’re not outsourcing (yet) but are under tremendous pressure to bring in more business...this means schmoozing by taking prospective clients golfing, ball games, dinners ect.
...what concerns me about the outsourcing is the potential for insider information leaks in the stock market...we have the best regulated markets in the world, and yet still have Wall Street scandals...outsourcing of sensitive documents adds whole new level of exposure.
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