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Technology and Data Risks Related to Conflicts Clearance
Effective conflicts clearance is critical to law firm risk management. The cost of missing a conflict of interest can be significant ' from loss of business to serious reputational damage. That is why enhancing conflict of interest management consistently rates as a top concern in law firm surveys. As referenced by a recent ABA Journal article, law firms are also becoming more wary of hiring laterals due to potential conflicts of interest. See, David Hudson, “Malpractice Concerns Spark Heightened Scrutiny of Lawyers Switching Firms,” ABA Journal, May 1, 2015. This wariness will only increase if law firms cannot be sure that the technology supporting their conflicts of interest process can be responsive and accurate.
Some systems used by firms for searching conflicts of interest are aging rapidly, putting law firms at risk. Also, many firms are unaware of inaccurate data, data anomalies, and inefficiencies that have built up over time. Even if this does not result in a missed conflict of interest, it could be having an impact on a firm's ability to open matters quickly. An inefficient intake process can mean that more attorneys are working on matters prior to receiving conflicts search results, a reluctance to open new matters, and a delay in recording billable hours.
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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
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?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
'Insurable Interest' and the Scope of First-Party Coverage
This article reviews the fundamental underpinnings of the concept of insurable interest, and certain recent cases that have grappled with the scope of insurable interest and have articulated a more meaningful application of the concept to claims under first-party property policies.