In India, the concept of law firms in India isn’t fairly new and has been in existence for almost three decades. It all started in the 90’s as a result of libertarian and opening if the Indian economy. Even though, prior to that, law firms did flourish, business for them increased many fold only after foreign investors were permitted to set up shop in India.
Evolution of law firms in India:
In India, law as a profession has evolved over the past three decades. From the traditional individual lawyer system, to a team of lawyers providing legal advice to clients. It has never been easy to start a law firm. It requires in depth knowledge of the subject, research and capital and most importantly, an ability to manage teams. It also requires a clear focus on what you want your law firm to specialize in and whether one would like specialization or be a general all service law firm. Indian law firms today are either full service law firms or specialists in a particular field like intellectual property or foreign investment. Founders of Redalphi have extensive experience in the field of law as a profession. Law firms have evolved with the ever changing evolutionary demand of businesses. Especially in India, where foreign investment has increased many folds, there is a need for NRIs and foreign investors to trust in a team of lawyers instead of a single lawyer. This, coupled with increased work load resulted in the evolution of law firms, in other words a team of lawyers who could provide a holistic solution to a given legal problem.
Some of the law firms in India are big (all featured on Redalphi), with offices in different parts of the country. Some in fact, with partner office abroad are even global. Like we mentioned above, because of complexity of law as a profession, law firms have recognized to accept specialization in niche areas like intellectual property etc. In general terms law firms are better managed today than they were ten year ago. This because they’ve adopted a corporate model where power is concentrated evenly at the top and not disproportionately in the hands of individuals.
The other concept of law firm in India that is fairly new and perhaps gaining in popularity are online portals of virtual law firms. Online portal or virtual law firm sets up infrastructure, more so on the technology front to provide a service to their clients usually over the internet instead of being face to face physically. The key benefit of this model is it saves resources in terms of physical office infrastructure while providing services at a PAN India market.
The above is a general write up of law firms in India. You could browse our section of law firms, read client reviews and engage someone for your business, family or property needs.