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Indian Legal Services Market: An Analysis
Description: This report analyzes the legal services market in India within the PEST and Porter frameworks and highlights the issues and growth drivers of this market. It also studies the major regional markets and profiles the major players in the market. Further, the report identifies the trends and growth opportunities in the industry. It also covers important segments of the industry and analyzes market dynamics. Majority of Indian lawyers have small domestic practices. This is in accordance with the Indian law under which law firms cannot have more than 20 partners, nor can they advertise their services.
1.2 Industry Segments Commercial Legal Services Criminal Legal Services Civil Legal Services Other General Services 2. Market Dynamics 2.1 Market Overview The Indian legal services industry has been protected with the rights for the practice of law being restricted to Indian nationals only. This prevents foreign lawyers and law firms from establishing offices in India. Majority of Indian lawyers have small domestic practices. The Indian government is presently considering foreign participation from the UK in high skill legal services such as cyber law, anti-dumping, and investment. The section also includes an overview of the legal services in various regional markets like Delhi, Mumbai etc. 2.2 Trend Analysis In-House Legal Advisory The Indian corporates prefer in-house legal advisory as they are more economical compared to external counsels. Emergence of Paralegal Outsourcing An increasing trend has been witnessed in the area of paralegal outsourcing due to cost advantages. Arbitration for Quick Settlements & Timely Justice With the increasing importance of timely settlements of disputes the arbitration route is being followed. Foreign companies prefer this route over the traditional form of dispute settlement...