“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.
Our forced experiment in change and technology adoption caused increasing technology investments. We’re never going back the way we were — and this will be to the benefit of firms, profitability, clients and lawyers if we make the right technology investments. Here are some specific ways firms can capture these benefits.