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Maximizing Value in a Software Driven World
Over the last decade, technology has at least conceptually moved from a supporting role to a central role in the legal industry. Law firms market their technology prowess and clients demand investments in systems and expertise to leverage technology on their behalf. It won't surprise any trainers out there, however, to read that law firms continue to face difficulty maximizing effective user behavior, mandating adherence to policies, and even encouraging attendance at training. That difficulty seems to be particularly apparent among attorney users. Client pressures on rates, proliferation of alternative fee arrangements, commoditization of legal services by alternative service providers, mandates by the Bar, and the fear of being called out by a client or a judge for a lack of competence in this area all encourage acceptance of the need for change, but making that happen in a profound way at an institutional level is a challenge.
The 2011 New York State Bar Association Report on the Task Force on the Future of the Legal Profession framed that challenge nicely, saying that we need to “redesign the way that we work so that technology is fully integrated into our workflow in an efficient and effective manner.”'Law firm management has been catching the drift, and 81% of the respondents in a 2013 PwC Law Firm Survey said their top business and support priority for 2014 and beyond was to improve the use of technology. With 80% of respondents in the same survey identifying their top priority in the current year as the need to implement or upgrade IT systems, you can extract some sense of the shift happening here.
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.
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.