Outsourcing is one of the major trends in the legal industry at the moment. Whether it is moving peripheral administrative tasks to a third-party provider or moving your entire IT department to a subsidiary in India, accessing low-cost workforces is the flavour of the month for the legal manager.

However, the legal industry is not the first to discover this new approach – other industries, in particular the investment banks, have gone before us.

So what can we learn from them? By looking at their experiences, is there anything that we can learn from their successes and mistakes that we can try and replicate or avoid?