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Getting Systems in Line
Data conversions are a given for law firms implementing new systems, switching to new vendor platforms or upgrading existing systems. The number of practice-related system transitions that a typical law firm experiences (e.g., moving from Vendor X's to Vendor Y's software; upgrading from system Version 1 to Version 2) correlates with the adoption strategies and overall technology goals of a firm. Long ago, most mid- to large-sized law firms implemented financial systems specifically designed to efficiently invoice clients in accordance with time and expenses associated with specific representations.
As law firms realized the benefits of having a billing system specifically designed to their needs, they sought out systems that could help streamline the then-manual processes for searching conflicts and managing client files. Financial software vendors responded and established an early and majority market share in implementing conflicts and records management systems. Many firms are on their fourth or fifth iterations of their accounting software, whereas vendor swaps or upgrades related to records management systems and/or conflicts management systems may just now be coming into play. It logically follows that IT personnel are most likely more familiar with the processes involved in managing time and billing system conversions. However, the same methodology cannot be applied universally from system to system. For firms about to embark on records management or conflicts management conversions, recognition of how these key firm systems define and manage data is critical to ensuring a successful transition.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Protecting Innovation in the Cyber World from Patent Trolls
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.