Global regulators added 14,215 new regulatory announcements in 2011, according to a new study from Thomson Reuters Governance, Risk & Compliance.
That’s about 60 new regulatory announcements every working day, and up 16% from 2011.
The study says the problem will only grow worse in 2012. Major portions of the Dodd-Frank Act take effect later this year. And while the SEC and FSA get most of the attention, the major regulators in the U.S., U.K., Australia and Hong Kong combined accounted for just 20 percent of overall activity last year.
A copy of the report can be downloaded here.
Posted by Jessica Leibrock in:
Industry trends |
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Mobile technologies are definitely a hot topic at LegalTech NY, and there’s a lot of excitement in the Thomson Reuters booth with demonstrations of the Thomson Reuters ProView app for the iPad.
ProView launches shortly in Australia, following its successful introduction in the US, UK and Canada. ProView has features including full-text Boolean search, and updating of content as new editions while maintaining customer-created notes and annotations.
In addition, the upcoming update of ProView will add more exciting features.
Dan Bennett, vice president, New Product Development, discusses what’s new with Thomson Reuters ProView
Posted by Gretchen DeSutter in:
Audio | Products | Video |
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The first version of Microsoft ProjectTM for WindowsTM was released in 1990. Between then and now, many law firm CIOs have variously cajoled, begged and even threatened attorneys to apply even the meanest vestiges of project management tools and methodologies to their practices. Until very recently, these attempts have met with unmitigated failure, especially when it came to adopting new software and business processes.
The reason for this failure is essentially that lawyers want to practice law – period – full stop – end of discussion. Where the CIO could see the value of applying project management principles and processes, attorneys could only see interference with, and interruption of their practices. Besides, as long as clients were willing to pay the going rate, why bother to mess with the status quo?
Read more… (more…)
Posted by Jessica Leibrock in:
Law firm business |
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Consumers always look for value. Quality at a price-point that reflects the appropriate amount of benefit. The word “sale” in the window is only slightly less effective than preceding it with the words “going out of business.”
The more I listened to LegalTech attendees and fellow vendors, the more I heard them talk about tools that would complement current processes, provide measurable results, and continually improve their ability to deliver to their clients… All hallmarks of project management.
Demonstrations across the exhibit hall met with a common refrain: tell me, no, convince me why this makes sense for me. Don’t talk about the tool, talk to me about what the tools will do for me. Again, the emphasis is less on the tool as a technology, and more on the use of tool. Often this meant less time showing product and more time discussing the nature of the problem(s.) More than once a client would ask about a specific product, but we ended up in a conversation about a different process or tool than expected. More than once we found clients coming to us as referrals from others and we made similar references to others. I’m not saying there was a hand holding moment of solidarity between vendors… Maybe more like a practical recognition of economic benefits from delighted clients.
Having deeper discussions about problems and process resonated. Having an ecosystem of tools that prove value both independently and together resonated. Removing the “sale” sign from the window and inviting clients in for a practical discussion about their processes and thinking about the right tools for the right job… Those are the values that resonated.
Next up… Some of the “right” types of tools for clients looking for a better, continually improving process.
Jeff Friedman is director of marketing, Westlaw CaseLogistix
Posted by Jeff Friedman in:
Law firm business |
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For transactional attorneys, drafting contracts, agreements and other legal forms can be a time-consuming process.
Westlaw Drafting Assistant – Transactional is the first comprehensive set of automated tools and content to help attorneys prepare transactional documents with greater efficiency and accuracy.
Users can quickly and easily find a document or template to use as a starting point – whether an existing internal document or using the included database of sample documents, organized by practice area and jurisdiction. Powerful proofreading tools ensure accuracy across all content, including defined terms, numeration, punctuation, and referenced documents. Issues such as non-conforming phrases are flagged for easy review. An automatically generated document outline eases document navigation. Plus, direct integration with Westlaw enables users to find applicable forms and laws without leaving their word processor.
Westlaw Drafting Assistant – Transactional is the latest addition to the comprehensive products and content Thomson Reuters Westlaw provides for transactional attorneys, including Westlaw Form Builder, Form Finder on WestlawNext, and Westlaw Model Documents. Stop by our booth at LegalTech NY and take a look.
Posted by Gretchen DeSutter in:
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Nixon Peabody LLP announced today at LegalTech New York that Pangea3 is now their preferred vendor for legal process outsourcing. Pangea3 was selected by Nixon Peabody following an extensive review of LPO providers. As a preferred vendor, Pangea3 will be Nixon Peabody’s recommended LPO provider, where appropriate, to meet its clients’ needs. Through this relationship, all of Nixon Peabody’s clients will have the opportunity to benefit from preferred pricing.
Nixon Peabody said the move was in response to client demand to reduce the risks, burdens and costs of e-discovery review.
Pangea3 was recently voted “Best Legal Process Outsourcing Provider” in the 2011 New York Law Journal Reader Rankings.
Posted by Gretchen DeSutter in:
Law firm business |
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LegalTech New York rarely surprises. It’s always at the Hilton. It’s always at the end of January / beginning of February. It’s always cold. It always features new technology.
After all the show is called LegalTech – as much emphasis on the ‘tech’ as the ‘legal.’ Most of the usual players did not disappoint: a new black box here, a triangle graph there. But a growing cadre of booths, vendors and speakers have seemingly taken a step backward. Project management? Wait, that’s not exclusively legal. And it certainly doesn’t center on technology. Has the certainty of LegalTech been replaced by chaos?
Over the last 18 months, a growing emphasis on project management has emerged from the shadows. The post-financial crisis era has brought new waves of discovery challenges. Exploding volumes of data. Proliferation of social media and cloud storage. The biggest challenge, however, is less about getting the latest tool or a “Simple” button, and more about properly utilizing the right tool(s.) A friend of mine once said that the best search engine for a box sitting in a basement is a flashlight. The push for project management may stem from greater corporate client influences or a need to protect margins or maybe the realization that Six Sigma is more than voodoo. Regardless, project management methodology appears to be this year’s common thread.
Buyers and tools/services across the show are taking note… And as I get more time to observe I’ll talk about each over the next couple days.
Temps in New York City this week are expected in the mid to high 50’s and LegalTech has a project management theme. Chaos? Not so much. But maybe a bit of surprise.
Jeff Friedman is director of marketing, Westlaw CaseLogistix
Posted by Jeff Friedman in:
Law firm business |
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MatterSphere, an industry-leading matter management platform, is now available to law firms in the U.S. market as part of Elite’s suite of integrated management solutions.
MatterSphere integrates with Elite 3E, Elite Enterprise and many other financial management and document management platforms, and is embedded in the Microsoft Office environment to unite operations and promote collaboration across the enterprise and with a firm’s clients. It is also accessible from iPad or smartphone.
Patrick Hurley, senior director of Operations, Elite, talks about how MatterSphere benefits attorneys and firms.
Mark Craddock, Director of Sales for Elite, comments on today’s U.S. launch of MatterSphere.
Posted by Gretchen DeSutter in:
Products | Video |
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Not surprisingly, some of the hottest topics being discussed here at LegalTech NY are mobile applications for lawyers-on-the-go.
With the iPad nearly becoming standard equipment for lawyers these days, WestlawNext is rolling out new collaboration tools for its iPad app. Enhanced folder sharing lets users share research results with people both within and outside their organization, as well as tap into the research and collective knowledge of others.
Dinyar Mehta, director, WestlawNext iPad and mobile development, talks about how this helps lawyers be more efficient.
Posted by Jeff McCoy in:
Products | Video |
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LegalTech New York 2012 has kicked off!
We’re looking forward to an exciting three days learning about the latest in legal technology.
Andy Martens, senior vice president of New Product Development, talks about some of what’s in store for LegalTech this year. If you’re at the conference, please stop by the Thomson Reuters booth.
For those of you who will not be at LegalTech in person, our Legal Current crew will be blogging daily, reporting on what’s new and exciting at the conference, hopefully bringing some of the best from the show to you.
Posted by Jessica Leibrock in:
Events | Video |
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What’s in a word? The Black’s Law Dictionary, 9th edition from Thomson Reuters can provide both definition and pronunciation through a new Android App. When the word of the day isn’t a word you know, Black’s mobile applications is ready to find that content on your Android.
Black’s is available as an Android App and also [...]
Pangea3 CEO David Perla was a member on the panel for Legal Process Outsourcing 2.0 at the ACC Annual Conference in Denver recently.
With the rapid growth surrounding LPOs in the legal industry, the panel addressed numerous topics and issues ranging from: how each company addresses the relationship with the LPO differently to the best way [...]
We’ve got a great podcast this month to kick-off the New Year featuring an interview segment with attorney Yar Chaikovsky about monetizing patents and the forthcoming impacts of patent reform.
Then in our “On the Blawgs” segment we learn about one blogger’s top five social media tips for businesses.
In our “Chaos in the Courts” segment, we [...]
Comments of trial judge to defense counsel, to effect that counsel was “bordering on being a sleaze” did not constitute reversible error, as they were made outside presence and hearing of jury. Houston v. State, 565 So. 2d 277 (Ala. Crim. App. 1990)
An acknowledgment in court that one is not the owner of certian property being demanded, and that it in fact belongs to the demandant.
Our recap of the Gladwell, Sanders & Craig keynote at LegalTech, with photos http://bit.ly/9x8EDx #ltny 2010-02-04
