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How Torys Updated Its Intake Processes and Systems
For years, Torys LLP, based in Toronto with offices in New York, Calgary and Montreal, used a home-grown system to open new client matters with separate systems to run conflicts checks and manage risk. While the system worked well in the past, it became clear a few years ago that it could no longer keep up. During the recession, clients became more cost-conscious and interested in alternative fee arrangements, and the old system didn't have a way to thoroughly track that information. Changing regulations in Canada also impacted our approach, which requires law firms to follow specific client identification and verification procedures.
So, in 2008 we began actively looking for a new system that would allow our lawyers and staff to easily enter all of the required pieces of information about potential new clients. We wanted a system that could create a central repository for that information and integrate seamlessly with our financial and document management systems. We researched products on the market and turned to PaayaTech Inc. to work with us to customize its CorpIntake product. After extensive customization and testing, we rolled out CorpIntake in the beginning of 2009. Since then, CorpIntake has helped us to dramatically cut down the amount of time it takes to open new matters, comply with the Federation of Law Societies of Canada (FLSC) and keep all of our information in a central location.
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.
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.
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.
One Overlooked Element of Executive Safety: Data Privacy
Executives have access to some of the company's most sensitive information, and they're increasingly being targeted by hackers looking to steal company secrets or to perpetrate cybercrimes.