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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.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
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.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
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.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.