Lex Connect Curated Reading List
Fear not, we have curated the best Legal Operations & Legal Technology blog and articles.
Enjoy your 30 minutes power reading.
Attorneys have an ethical obligation to competently represent their clients. In today's digital age, that obligation extends to understanding e-discovery. In house attorneys are responsible for supervising all aspects of the e-discovery process, establishing litigation readiness plans and implementing strategies to mitigate risks and costs. However, many attorneys don't possess the requisite e-discovery knowledge and skill to adequately meet these important obligations for their companies..
When five University of Toronto students harnessed IBM’s machine learning tool Watson to create Ross, a legal support service now in private beta testing, they heralded the automation of many of the tasks traditionally assigned to junior lawyers. On the face of it Ross – and the increasingly sophisticated technologies that will inevitably follow from it – pose a serious threat to the billable hours propped up by young law firm staff combing through reams of court decisions and evidence files.
Peter Kurer, partner of private equity firm BLR and noted book author, formerly business lawyer in private practice as well as general counsel and chairman of UBS, talks about the management of legal risks in a global company, the role of the legal department and whether external counsel can provide assistance. Peter Kurer was interviewed by Bruno Mascello.
The personal computer revolution started by the Hacker elite in the 1970s has completely transformed the world. From a historical perspective our current computer-based culture is a relative new-born. The first generation of hackers born in the fifties, epitomized by Steve Jobs and Steve Wozniak, have succeeded beyond everyone’s wildest dreams. They have quickly changed our world into an information based society.
Corporate legal budgets are at a 15-year high as measured in dollars spent. But, the average large company managed to reduce spending to .38% from .45% of revenue over the past two years. This means as companies grew larger the percentage spent actually declined. Chief legal officers were able to support more business with $9 million less.
I spend a lot of time on the road talking to law firm lawyers and legal innovators, including legal start-ups. Many large firm lawyers tend to dismiss new innovations without stopping to listen to, much less gather, relevant facts. Likewise, there is a lot of puffery among legal start-ups as they try to land their first few customers. Thus, I tend to apply a windage factor to accurately interpret what I am being told.
This executive report examines the definition and management of legal risk in large corporates. The study is based on a review of relevant literature and interviews with 34 senior in-house lawyers and senior compliance staff in large corporates and similarly complex organizations. The sample divides between financial and otehr organizations, with a wide range of sectors involved.