Is Your Hotline AAA-Rated?
March 29, 2006
Many companies and organizations have hotlines that are needlessly weak or even ineffective, and they often don't even know it. Unfortunately, there are no up-to-date, authoritative standards for hotlines. This has forced Securities and Exchange Commission registrants and their auditors to use an unusually high degree of judgment in evaluating the effectiveness of hotlines for Sarbanes-Oxley '404 reporting. Non-registrants are more vulnerable to 'phantom hotline syndrome.'<br>Some entrepreneurs, and their advisers, may not be impressed by the need for a hotline at an e-business, but they're mistaken about the importance of this tool in the current environment of ever-increasing regulation and scrutiny of business practices.
The Effect of Settlements upon Settlements
March 29, 2006
Insurance coverage disputes regarding long-tail claims, such as toxic tort or environmental damage claims, often lead to protracted and expensive litigation. Dollars spent on that litigation often would be better spent in compensating the underlying case plaintiffs, such as victims of toxic torts, or in cleaning the environment. Further, such litigation is a substantial drain on already overburdened judicial resources. In resolving insurance coverage disputes, therefore, an important consideration should be whether a particular approach will encourage or discourage settlement of future disputes, while being fair to the litigants. An emerging issue that can have a significant impact on whether future coverage disputes will be settled or litigated to judgment is whether a non-settling insurer will receive a credit based upon settlements an insured has reached with other insurers in regard to the same occurrence and, if so, how that credit will be calculated. At least three approaches have begun to emerge. The approach chosen will have a substantial impact on whether litigants are treated fairly and whether settlement of future disputes will be encouraged or discouraged.
e-Commerce Changes Everything ' Again
March 29, 2006
e-Commerce Web sites' only constant is change. They must nimbly adjust prices and offerings on the fly to meet market conditions and customer profiles. And those aren't all of these sites' ongoing change requirements.<br>One thing that doesn't change, however, is their reliance on data ' customer preferences as well as transaction information. Although e-commerce Web sites are an inherently transient medium, that data is as worthy of preservation as a treasure map or share certificate of old, because, in many ways, it is worth more than money.<br>For these firms, a record-keeping and record-retention policy seem to be electronic oxymorons, as much as an 'inexpensive lawyer' or 'friendly litigation' may seem to many people The controlled destruction of records typically associated with such policies in the post-Enron and Arthur Andersen era appears to fly in the face of the needs and realities of e-commerce, as much as do traditional notions of photocopying and saving every paper business record.
Labor Department Regulates Federal Internet Job Applications
March 29, 2006
With the e-commerce activity of collecting 'people data' for employment comes regulations, a collection of which the evolution of the Internet requires periodic updating and the application of new rules.<br>On February 6, new U.S. Department of Labor rules that require federal contractors to collect information concerning Internet applicants went into effect. But compliance with another set of regulations doesn't necessarily mean that employers or contractors will find themselves in a bog meant to keep recruiting orderly, and compliant.
The Basics Of Hiring A Contract Attorney
March 29, 2006
Law firms use contract attorneys to aid in large-scale document reviews such as those often required in e-discovery, and for mergers, internal audits and other matters that require an influx of temporary help. Of course, the subject matter involved in these wide-ranging projects varies, which makes contractors an ideal solution for dynamic business. If a project requires that attorneys or other workers who are or may be involved have a specific background, then law firms, or the agencies they hire, may well be better positioned using temporary workers who also may be making a specialty of the work required. And often, projects require only a general legal background, which makes finding candidates far easier. But whatever the situation that demands looking for short-term or long-term employees ' for staff positions or contract work ' firms should consider the key factors when hiring contract attorneys.
Flexible About Billing? Tell Your Clients!
March 29, 2006
Most firms use a billing options analysis to determine the mix of hourly rates used to accomplish the work. However, almost any case or project can be broken into tasks; and each task can be priced separately and differently, to create multiple pricing schemes within a single transaction based on client preferences and value perceptions. <br>Different clients can be approached differently. Creating a matrix can demonstrate to clients those areas where costs can be controlled and where costs are inherent, and educate clients about what can be done to lower the overall cost of a project.
Avoiding Boilerplate Traps in Commercial Leases
March 29, 2006
Last month, Part One of this article provided tips by Christopher A. Jones and Scott A. Weinberg. This part discusses other possibly problematic lease provisions regarding the name/address of the building, rules and regulations, legal fees and expenses, and the sale/exchange and assignment of the lease by the landlord.
Dashboarding for Performance Management
March 29, 2006
Law firm managers seeking graphic insights for business monitoring and quantitative decision support have much to gain from Wayne W. Eckerson's new book Performance Dashboards: Measuring, Monitoring, and Managing Your Business (2006: John Wiley & Sons). In this article, I'll review some of Eckerson's ideas that seem highly applicable to large law firms, and add a few thoughts of my own.