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Process Is the Key To Success When Applying Legal Technology To Discovery
The litigation industry is awash with technology. According to consulting firm Gartner, law firms, corporations and service providers spent almost $2 billion in 2014 buying or licensing e-discovery software, almost none of which existed just 10 years ago. See, 'Magic Quadrant for E-Discovery Software.' Why? The primary driver has been the explosion in the amount and variety of discoverable data in the world. Without software, litigators today simply cannot get their job done, and corporation spend on discovery would be unfathomable. So far, so good ' our industry has made progress.
Yet there remains a significant challenge. In November 2013, Legal Tech Newsletter's ALM sibling, Law Technology News, published an article with the byline: 'Humans Are Still Essential in E-Discovery.' The article summarized results from an extensive study conducted by the Electronic Discovery Institute and involving two leading Stanford statistics professors. The study compared the results of 19 technology assisted review providers with an entirely human review of a 1.7 million document data set. The headline conclusion was 'software is only as good as its operators.' The article included a chart that ranked the 19 providers' performance as 'optimal,' 'average,' and 'low' for each of three reviews (responsive, privilege and hot documents). The range of performance was dramatic. Only one provider scored 'optimal' in all three categories, while five others scored 'optimal' in two of the three categories. Four scored 'low' in all three categories. And many used the exact same software. The range of spend was equally wide, with one provider's total cost under $50k and another's over $1.5 million, a 30x difference.
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.
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.
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?