Effective Legal Holds Policy Requires IT-Legal Interaction
September 28, 2006
The explosive growth in electronic communications has resulted in a corollary growth of e-mail as a primary source of legal discovery when organizations are faced with litigation. As recent high profile cases demonstrate, traditional litigation hold processes are being successfully challenged as inadequate in the context of electronic communications. The lesson, therefore, is that if a company uses technology to run its daily business operations, it will be expected to utilize similar technologies to search, collect and produce requested or subpoenaed business records. Symantec Corporation, a developer of security and availability software tools, is leveraging its own products and the expertise of both its legal and IT departments to develop and implement a litigation hold program designed to significantly reduce the time and money spent to collect and preserve e-mail records. This article summarizes some of the 'lessons learned' by Symantec as we worked with our own technology to develop our legal hold program.
Practice Tip: Minimizing Liability Exposure By Reporting Adverse Drug Experiences
September 28, 2006
In order to minimize potential product liability associated with pharmaceutical products, companies regulated by the U.S. Food and Drug Administration ('FDA') should be vigilant in ensuring that adverse drug experiences ('ADEs') are reported to the FDA in a timely and complete manner. FDA regulations contain extensive requirements regarding the reporting of ADEs for companies involved in the distribution chain, such as manufacturers and distributors. Failure to report, when required, can result in an FDA enforcement action and exacerbate liability exposure. A proactive ADE collection and reporting system will place a company in a better position to address unanticipated issues that may arise after full-scale commercial marketing has begun. Therefore, companies must know their regulatory responsibilities and implement procedures to ensure that ADEs are collected and reported, as required by law. This article covers only some of the re-quirements and issues to consider.
Looking at Lease Provisions from the Litigator's Angle
September 28, 2006
Frequently, commercial lease issues are brought to the attention of a litigation lawyer only after a dispute between the landlord and the tenant has erupted. Oftentimes, the dispute involves the 'boilerplate' provisions that do not raise much interest during the drafting phase because they are not considered to be economic deal points. <i>See</i> 'Revisiting Boilerplate or 'Miscellaneous' Lease Provisions' in the January 2006 issue of <i>Commercial Leasing Law & Strategy</i>. This lack of interest in boilerplate provisions is a mistake because it is much easier to resolve concerns regarding those provisions ' which become very important in the litigation context ' while the parties are amicably moving toward closing a deal, rather than during the pendency of a lawsuit. Many times, disputes could have been either avoided or minimized had the parties clarified certain important issues while they were negotiating and drafting. This article discusses several leasing issues that should be carefully considered while the parties are still on friendly terms.
Law Firms At the Top of GC Speed-Dial Lists
September 28, 2006
For the past 5 years, Corporate Counsel has conducted a survey of Fortune 250 general counsel, asking them to list their 'primary' outside counsel. This year, 93 companies provided information on their top law firms for corporate transactions, litigation, labor and employment, and intellectual property. Those companies named a total of 380 law firms.
<i>Caveat Amicus</i>
September 28, 2006
Identity theft has emerged recently as one of the greatest customer risks in e-commerce. Certainly, no one will shop or do business at a site if he or she feels personal and financial information isn't secure on that site.<br>But the truth of it is that from the dawn of the e-commerce era, the identity of the 'other' person in a deal has always been an unknown risk. The identity of the person requesting a customer's personal information, whether the sender of a marketing e-mail or the owner of an e-commerce Web site, may never really be clear, even to those who read the fine-print terms and conditions in disclosures and contracts.
Online Legal Matching
September 28, 2006
In the relatively newfangled sector of e-commerce, how often does an entrepreneur or attorney who represents e-commerce clients get to witness the birth of a new industry? <br>Well, there's a new player in the $173 billion legal services industry, and its initials are OLM ' a euphonic moniker for online legal matching.
Federal Tax Incentives for Small Business
September 27, 2006
The federal tax code targets small businesses with a social conscience in an effort to encourage compliance with federal disabilities rights laws. There are tax credits and deductions that promote the employment of, and accessibility for, disabled persons. It is through these tax incentives that small businesses are permitted to defray certain costs associated with: 1) the employment of persons with disabilities; and 2) the provision of accessibility to public accommodations for persons with disabilities. Irrespective of whether a small business is an independent business, a distributorship, or part of a franchise system, it cannot afford to ignore the tangible social and economic benefits these tax incentives provide.
Option Backdating
September 27, 2006
This is not an easy time to be in the general counsel's office of a public company. The investigations into stock options backdating tend to reach into various parts of the organization, often simultaneously. Some practical rules of the road are in order, to allow the general counsel's office to spot and address the relevant issues in an appropriate, cost-effective manner.
Kick That Sleeping Dog!
September 27, 2006
Many months ago, federal grand subpoenas arrived on your client's door step. Their unexpected arrival and broad scope set off typical alarm bells and suddenly displaced a good deal of ongoing business. Your client immediately turned to you to undertake an investigation of the matter and a response. Your client's Information Services Department swept all electronic databases, and you directed phalanxes of young lawyers to conduct interviews and review documents for responsiveness. Now what?
Farmland Industries Creditors Paid in Full
September 27, 2006
Maximizing the recovery for unsecured creditors is the primary goal of every liquidating trustee. In proposing the Farmland Industries liquidating plan, the debtor estimated that the maximum recovery for unsecured creditors would not exceed 85% of their allowed claims and that it would take the liquidating trustee approximately 5 years to reach that payout. Instead, JPMorgan, the appointed liquidating trustee, paid unsecured creditors more than 100% of their allowed claims 3 years earlier than anticipated. Several factors played a crucial role in maximizing the payout for Farmland Industries' unsecured creditors; these are explained in this article.
