A recent article clearly states how offshoring could help almost any legal department that has responsibility for a large number of contracts. Written by two Mindcrest principles, the article describes how they helped restore order to a large number of contracts and agreements governing properties a client managed.
The client and the unnamed LPO company designed a contract review assignment. Pursuant to it, the offshore provider’s staff (1) summarized, categorized and abstracted the contracts; (2) created and filled in a contract tracking database; (3) reviewed the contracts for compliance and due diligence; (4) finished some of the contracts so they could be signed; and (5) at times dealt with other parties based on client-approved terms. Those tasks sound spot on for many law departments.