Outsourcing the Corporate Governance Officer (Potential Business Model)

  • Dušan Jovanovič University of Maribor, Faculty of Economics and Business, Razlagova ulica 14, 2000 Maribor
  • Borut Bratina University of Maribor, Faculty of Economics and Business, Razlagova ulica 14, 2000 Maribor
Keywords: LPO (legal process outsourcing), LSO (legal service outsourcing), virtual law firms, Corporate Governance, Corporate Secretary

Abstract

In the last decades, the legal industry has experienced a global paradigm shift in the delivery model for legal services. This new model, known as legal process outsourcing (LPO), transfers the work of attorneys, paralegals and other legal professionals to external vendors located domestically and overseas. Legal outsourcing (both onshore and offshore) is transforming law practice as law firms and corporate legal departments seek to minimize costs, increase flexibility and expand their in-house capabilities. In this new decade, we have to prepare, with the legal services outsourcing, that we will become more sophisticated, with higher value of legal work, at higher level of quality and speed, and dramatically lower cost. In the Article authors deal with the process of the transformation of legal service into a legal good and point on some dilemmas during that process. This paper argues that outsourcing ultimately will have a positive effect on the legal profession and development of the quality of legal services. In the second part of the paper authors also stress out some information about different possibilities, how to organize virtual law firms for low budget legal services in the Slovenian case and also include some information about the possibility how to organize corporate governance in companies through the corporate secretary as outsourcing, because the corporate secretary is the chief governance officer and provides leadership for the corporation to implement a high level of corporate governance.

Author Biographies

Dušan Jovanovič, University of Maribor, Faculty of Economics and Business, Razlagova ulica 14, 2000 Maribor
Assistant Professor
Borut Bratina, University of Maribor, Faculty of Economics and Business, Razlagova ulica 14, 2000 Maribor
Associate Professor

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Published
2016-05-01
Section
Articles