.
Leading Law Departments
|
|
|
Know the economics of your law firms when you agree to fee arrangements. Most inhouse counsel have practiced in a law firm before, so they have some understanding of firm dynamics and politics when it comes to client credit, billing revenue, etc. 'Pricing legal work requires much more than proficiency in AFAs. Companies should possess a practical understanding of law firm economics and the related profitability variables, of law firm cultures, and of law firm compensation systems for partners and associates for the firms that they use.'
Click here for the full text from Catalyst Legal.
Perhaps some reality about the 'ascendancy' of ALSPs. Contrarian does not mean wrong. 'Over the last few months, the focus has been on Alternative Legal Service Providers, or ALSPs. We're devoting a chunk of Front this issue to explore these unwieldy beasts purportedly eating Big Law's lunch. There's no doubt ALSPs have made progress, but their ascendancy seems overstated.'
Click here for the full text from Corporate Counsel Business Journal.
image
Matter-level diversity metrics from law firms. If a law department relies on diversity metrics beyond firm-wide, it requires more data tracking. 'More legal departments are considering the diversity composition of their teams on a matter-by-matter basis, and at the individual lawyer level as well as understanding attribution credit rules within law firms. This is a different type of data than is currently being routinely provided by firms, which is often firm-wide reporting of a firm's overall composition of diverse partners, counsel and associates.'
Click here for the full text from Priori Legal .
Analyzing slavery reports for instances of it. The potential this project reveals is to be able to pore through thousands of reports, perhaps such as Suspicious Activity Reports, and classify them after a period of training. This is machine learning in support of lawyering. 'Project AIMS seeks to eradicate slave labor by developing machine-learning-based analyses of the language companies use in their reporting under UK's Modern Slavery Act, in order to spot companies that use slave labor despite denials in their MSA reporting.'
Click here for the full text from Elevate.
An overview of the e-discovery industry. 'Gartner's leaders make five recommendations for teams pursuing improvements to their legal and compliance data center infrastructure, which cover a range of gaps and overlaps that must be addressed, overall visibility of discoverable data, and the complexity of high-stakes cases and how to coordinate efforts across siloed organizational departments. Download the full Gartner E-Discovery Market Guide by clicking on the banner at the top!'
Click here for the full text from Exterro .
Elusive goal to convert contract notions to computable elements. This idea has floated around for decades. 'These computational contracts (sometime called smart contracts), according to Stanford University, are a universal Contract Definition Language that will allow terms and conditions to be represented in machine-understandable way. As a result, computers will be able to process and reason over the contracts automatically with a guaranteed degree of accuracy. The Stanford project sees this as not only a significant reduction of legal transaction costs, but it also opens a variety of new options to create better contracts.'
Click here for the full text from the Legal Executive Institute.
Half of law departments foresee no medium term effect of AI. Even with all the clamor about contract management and e-discovery being AI enabled, isn't this a shocking finding? 'According to the 2020 Future Ready Lawyer Survey by Wolters Kluwer, 58% of legal departments expect AI to affect their organization over the next three years. Despite this, only 23% say that they understand it very well.'
Click here for the full text from Wolters Kluwer.
| |
|
Top News
- Pricing Legal Services Catalyst Consulting, April 15, 2021
- Not So Alternative No More: ASLPalooza Corporate Counsel Business Journal: Blog, April 15, 2021
- Leveraging the Power of AI in Law (via Passle) Elevate Services Blog, April 13, 2021
- Gartner E-Discovery Market Guide: Do These 5 Things to Fortify Your Legal & Compliance Data Center Infrastructure Exterro Blog, April 12, 2021
- CodeX FutureLaw 2021: Computational contracts create a Big Bang in legal Legal Executive Institute: Blog, April 12, 2021
- Improving legal department efficiency with AI technology ELM Solutions: Expert Insights, April 12, 2021
PinHawk Microsites
- Practice Group Success: Don't Just Plan, Implement (Part 2) Susan Lambreth - LawVision
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In the News
- Kroll Business Services Duff and Phelps: Publications, April 17, 2021
- Bond… Green Bond CorporateCounsel.net Blog, April 16, 2021
- Pricing Legal Services Catalyst Consulting, April 15, 2021
- Scoping Legal Services Catalyst Consulting, April 15, 2021
- Senate Confirms Gary Gensler as SEC Chair CorporateCounsel.net Blog, April 15, 2021
- Ten Things: What You Need to Know as a Woman In-House Lawyer Sterling Miller, April 15, 2021
- Webcast | May 20, 2021 Duff and Phelps: Publications, April 15, 2021
- State of the UK Legal Market 2021: New report highlights the need for greater value & stronger relationships Legal Executive Institute: Blog, April 15, 2021
- The Future is Now: “Alexa, Vote My Proxy!” CorporateCounsel.net Blog, April 14, 2021
- “Deep Dive with Dave” Podcast: Confidential Treatment Workshop CorporateCounsel.net Blog, April 13, 2021
- ROI of Advanced Digital Advertising: What Marketers Need to Know Inside Counsel, April 13, 2021
- COVID-19: Corp Fin Extends Leniency for Presentation of Shareholder Proposals CorporateCounsel.net Blog, April 12, 2021
- New podcast: A commitment to changing law firm recruiting Legal Executive Institute: Blog, April 12, 2021
- CodeX FutureLaw 2021: Computational contracts create a Big Bang in legal Legal Executive Institute: Blog, April 12, 2021
- Cyber Risk Duff and Phelps: Publications, April 12, 2021
- Valuation Duff and Phelps: Publications, April 12, 2021
|
|
|
|
|
|
|
|
|
|
|
|
In the News
- FOR IMMEDIATE RELEASE San Jose, CA – March 2, 2021: The Corporate Legal Operations Consortium (CLOC), the leading ... Corporate Legal Ops Consortium: In The News, April 17, 2021
- SAN JOSE, CA, February 22, 2021 – The Corporate Legal Operations Consortium (CLOC), the leading organization dedicated to transforming ... Corporate Legal Ops Consortium: In The News, April 17, 2021
- The Corporate Legal Operations Consortium (CLOC) announced today their plans to restructure and expand their membership ... Corporate Legal Ops Consortium: In The News, April 17, 2021
- SAN JOSE, Calif., Sept. 22, 2020 /PRNewswire/ — The Corporate Legal Operations Consortium (CLOC) announces its ... Corporate Legal Ops Consortium: In The News, April 17, 2021
- SAN JOSE, MAY 26, 2020 The Corporate Legal Operations Consortium (CLOC) has announcedthe appointment of Betsi Roach as ... Corporate Legal Ops Consortium: In The News, April 17, 2021
|
|
|
|
|
In the News
- CobbleStone Cares: Initiatives in Corporate Social Responsibility Cobblestone Software (Exari): Blog, April 16, 2021
- Supreme Court on Patent Law for April 2021 Patently-O - Dennis Crouch, April 15, 2021
- Friday Funnies: Exterro's Meme Series - Allergy Edition Exterro Blog, April 15, 2021
- Manage Your Complex Business Initiatives with Strategic Smart Values Linksquares Blog, April 15, 2021
- EP. 191 - KETO Mojo & Datasite Datasite (Merrill Corporation): Press Releases, April 15, 2021
- Optimizing the Store Portfolio in the Post-COVID Environment Berkeley Research Group: News, April 15, 2021
- Concurrent Contract Negotiation With Contract Insight® & Google Docs Cobblestone Software (Exari): Blog, April 15, 2021
- Data Integrity, and Why It’s Important Exterro Blog, April 14, 2021
- What Is Contract Analysis and Why It Matters Agiloft Blog, April 14, 2021
- Remote Work Reveals the Importance of Collaboration for Legal Teams Linksquares Blog, April 14, 2021
- Calculating IP Damages in 2021 - Before the Show Berkeley Research Group: News, April 14, 2021
- CBA Virtual Classroom: Fintech Berkeley Research Group: News, April 14, 2021
- Non-Transitory Innovation? Patently-O - Dennis Crouch, April 14, 2021
- [Sponsorship Post] Patently-O - Dennis Crouch, April 14, 2021
- LinkSquares Unveils AI-Powered Enhancements to Accelerate Contract Analysis for GDPR, HIPAA Linksquares Blog, April 14, 2021
- How to use Contract Management Tools to Improve Your Business Reputation Parley Pro Blog, April 14, 2021
- Evolving Role of Social Risk Investments in Healthcare Berkeley Research Group: News, April 14, 2021
- Online Contract Negotiations With MS Office 365 & Contract Insight® Cobblestone Software (Exari): Blog, April 14, 2021
- Who’s Who Legal Recognizes 30 FTI Consulting Professionals as Leading Forensic Accounting and Digital Forensic Experts in Investigations 2021 List FTI Consulting, April 14, 2021
- How Contract Management Software Boosts Collaboration Linksquares Blog, April 13, 2021
- Calculating IP Damages in 2021: Tools and Techniques Berkeley Research Group: News, April 13, 2021
- Legal Marketing Association Tech West Conference Epiq Systems, April 13, 2021
- Leveraging the Power of AI in Law (via Passle) Elevate Services Blog, April 13, 2021
- US vs China – Moving toward Global Injunctions Patently-O - Dennis Crouch, April 13, 2021
- Simplify Contract Management With Contract Insight® Express Edition Cobblestone Software (Exari): Blog, April 13, 2021
- Law School Canons: Summer-y Judgment Patently-O - Dennis Crouch, April 13, 2021
- Why Flexibility is the Most Important Aspect of Automated Contract Workflows Parley Pro Blog, April 13, 2021
- Per se abstract? Patently-O - Dennis Crouch, April 12, 2021
- Gartner E-Discovery Market Guide: Do These 5 Things to Fortify Your Legal & Compliance Data Center Infrastructure Exterro Blog, April 12, 2021
- Contract Intelligence for CFOs Evisort Blog, April 12, 2021
- Changing Landscape: Supervision, Examination, and Credit Enforcement in the Credit Reporting Ecosystem Berkeley Research Group: News, April 12, 2021
- Using Data to Explore Employee Status Under FLSA Berkeley Research Group: News, April 12, 2021
- Grant Rate by Size and Representation Patently-O - Dennis Crouch, April 12, 2021
- Patently-O Bits and Bytes by Juvan Bonni Patently-O - Dennis Crouch, April 12, 2021
- Competition and Innovation: Why Europe Needs Dynamic Models in Digital Markets – and How Europe Can Build Them Berkeley Research Group: News, April 12, 2021
- FTI Consulting Expands Forensic and Litigation Consulting Capabilities in Australia with Senior Managing Director Wynand Mullins FTI Consulting, April 11, 2021
|
|
|
|
|
In the News
- The Forrester Wave: Contract Lifecycle Management For All Contracts, Q1 2021 ELM Solutions: Expert Insights, April 16, 2021
- Could Investment Grade Be as Risky as High Yield? MSCI Riskmetrics Blog, April 16, 2021
- Innovation Remix: Adding Thematics to Equity Programs MSCI Riskmetrics Blog, April 14, 2021
- Long-Horizon Risk: The Past 50 Years MSCI Riskmetrics Blog, April 13, 2021
- Exploring the frequency and difficulty of ethical problems in nursing management ELM Solutions: Expert Insights, April 12, 2021
- Basel IV: Regulatory uncertainty or an opportunity to simplify processes ELM Solutions: Expert Insights, April 12, 2021
- Checklist for Basel IV ELM Solutions: Expert Insights, April 12, 2021
- Americas Q1 Finance, Risk and Regulatory update webinar 2021 ELM Solutions: Expert Insights, April 12, 2021
- Benefits of adopting a cloud-based practice management for your law firm ELM Solutions: Expert Insights, April 12, 2021
- Improving legal department efficiency with AI technology ELM Solutions: Expert Insights, April 12, 2021
|
|
|
|
| | Rees Morrison, Esq., Editor
Rees Morrison, Esq. is a Senior Manager at EY consulting to law departments on management issues. The views he expresses in Leading Law Departments are his personal views, and are not necessarily the views of EY. |
Follow me on Twitter: @ReesMorrison | Join my LinkedIn group: Law Department Management
Follow all the PinHawk highlights @PinHawkHappens Website: PinHawk.com Blog: PinHawkBlog.com
{NEWSLETTER_FORMAT_OPTION}
|
Copyright © 2021 by PinHawk LLC. All rights reserved.
This newsletter is edited by Rees Morrison.
PinHawk LLC does not warrant that the information in this email will meet any specific requirements nor that it will be error free or uninterrupted; nor shall PinHawk LLC be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use the information contained herein. By reading this email you agree to the Terms and Conditions.
Contact: PinHawk LLC, 104 Old Kings Highway North, Darien, CT 06820, tel. 917-687-5653 or comments@pinhawk.com
Don't let this important email be caught by a spam filter, ensure delivery to your inbox.
If you wish, unsubscribe from this NewzDigest.
Comment / Tell a friend / Advertise / Unsubscribe
|
| | | | | | | | | |