3 Legal Transcription Services Every Businesses Should Offer
Transcription services have been in high demand over the years, with various industries requiring audio and video recordings to be transcribed into text format for record-keeping, analysis, and other purposes. The legal sector, in particular, relies heavily on transcription services to transcribe recordings of legal proceedings, depositions, and other legal documentation.
Legal transcription services need a high level of accuracy and attention to detail, making it crucial for transcription companies to have experienced legal transcribers familiar with legal terminology, procedures, and requirements.
In this article, we will discuss the essential legal transcription services that every transcription company should offer to deliver the best service possible to their clients.
3 Fundamental Legal Transcription Services Every Transcription Companies Should Offer
Legal transcription is an essential support service for law firms, government agencies, and other legal professionals. With today’s increasing demand for fast, precise, and reliable legal transcription services, transcription companies must provide the following services to stay on top of the competition:
1. Court Proceedings Transcription
Court proceedings transcription is one of the most important legal transcription services that every transcription company should provide. This involves the transcription of court hearings, trials, and other legal proceedings that occur in a courtroom. These transcripts are essential for legal records and must be highly accurate, complete, and error-free.
According to a Zion Market Research report, the global legal transcription market was valued at $4,508.6 million in 2020 and is anticipated to hit $9,958.1 million by 2028, growing at a compound annual growth rate (CAGR) of 11% from 2021 to 2028.
This growth can be attributed to the rising demand for legal transcription services from law firms, court reporters, and other legal professionals.
2. Deposition Transcription
Deposition transcription is another essential legal transcription service transcription companies should be offering if they haven’t already. Depositions are recorded statements made by witnesses or parties under oath and are frequently used in legal proceedings as evidence. These transcripts must be accurate and verbatim to ensure the testimony is correctly recorded.
A study by IBIS World shows that the transcription services in the US industry are expected to increase at an annualized rate of 4.4% to $2.5 billion over the five years to 2022. This upward trend in the industry, including specific sectors such as the legal field, further boosts the demand for these types of transcription services.
3. Legal Document Transcription
Legal document transcription involves the conversion of legal documents, such as contracts, agreements, and other legal paperwork, into text format. These documents are used as evidence in legal proceedings and must be accurately transcribed to ensure their validity.
A 2022 Future Market Insights report reveals that the legal transcription market is nearly 30% of the business transcription market. Moreover, law firms are at the top of the list of end users at 31.5%, followed by legal attorneys, law enforcement officers, and court reporters.
Other Factors to Consider for Your Legal Transcription Services
In legal transcribing, transcription companies can offer add-on services to level up their brand among the competition. Below are some things businesses can highlight for their legal transcription offerings:
Verbatim transcription
Verbatim transcription involves transcribing every spoken word, including fillers like um, ah, and other non-verbal cues like laughter or sighs. While not a universal requirement for some, this type of transcription can be crucial for select legal proceedings, which is something a transcription company should be able to offer when needed.
Time-stamping
Some legal transcription may need transcripts to be time-stamped for easy reference during trial preparation, hearing, or deposition. In legal proceedings, the exact time an event occurs is crucial; thus, every transcription company should offer time-stamping as part of their legal transcribing services.
Confidentiality
Legal transcription involves sensitive and confidential information, and therefore, transcription companies should have comprehensive privacy policies and mechanisms to ensure client data remains secure. This means being compliant with regulations in the industry, such as the California Consumer Privacy Act of 2018 (CCPA) and the General Data Protection Regulation (GDPR).
Level up Your Legal Transcription Services
Transcription services are crucial for industries across the board, especially in the legal sector. Court proceedings, deposition, and legal document transcription are some of the various services that every legal transcription company should be able to provide to meet the needs of their legal clients.
If you’re looking for a transcription service partner with seasoned legal transcribers familiar with legal terminology, procedures, and requirements, look no further than TranscriptionWing!
At TranscriptionWing, we offer quality transcription services for legal transcription, medical transcription, and other industry-specific transcription services. We also provide time-stamped and verbatim transcripts with a quick turnaround time that will match your deadlines and standards.
Contact us today to learn more about our services and how we can assist you with your transcription needs.
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