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Predictive Analytics
Analyzing Financial Fraud Cases Using a Linguistics-Based Text Mining Approach
May 27, 2014
The paper proposes a linguistics-based text mining approach to automate the process of extracting financial concepts from...
May 27, 2014
The paper proposes a linguistics-based text mining approach to automate the process of extracting financial concepts from...
The Great Disruption: How Machine Intelligence Will Transform the Role of Lawyers in the Delivery of Legal Services
May 24, 2014
Professor John O. McGinnis of Northwestern University and Professor Russell G. Pearce of Fordham University have published The Great Disruption: How Machine Intelligence Will Transform the Role of Lawyers in the Delivery of Legal Services, Fordham Law Review, 82, 3041-3066 (2014). Here is the abstract: This Article argues that machines are coming to disrupt the legal profession and that bar regulation cannot stop them. Part I describes the relentless growth of computer power in hardware,...
May 24, 2014
Professor John O. McGinnis of Northwestern University and Professor Russell G. Pearce of Fordham University have published The Great Disruption: How Machine Intelligence Will Transform the Role of Lawyers in the Delivery of Legal Services, Fordham Law Review, 82, 3041-3066 (2014). Here is the abstract: This Article argues that machines are coming to disrupt the legal profession and that bar regulation cannot stop them. Part I describes the relentless growth of computer power in hardware,...
Running Your Legal Business Like Nate Silver
May 23, 2014
In the ELM world, legal analytics can provide law firms, corporate law, and claims litigation departments with the data that they need as a foundation for their most critical decisions. Years of professional experience and wisdom do not fly out the window when you implement fact-based decision making. Good instincts are supplemented by concrete, real-world information that helps to hone those instincts for even better results. For example, Dawn the corporate attorney might have a general sense,...
May 23, 2014
In the ELM world, legal analytics can provide law firms, corporate law, and claims litigation departments with the data that they need as a foundation for their most critical decisions. Years of professional experience and wisdom do not fly out the window when you implement fact-based decision making. Good instincts are supplemented by concrete, real-world information that helps to hone those instincts for even better results. For example, Dawn the corporate attorney might have a general sense,...
Law School Reduced Ability to Predict Case Outcomes
May 21, 2014
In the book "Beyond Right and Wrong", David Donoghue, and intellectual property attorney and partner at Holland & Knight in Chicago, reflects on attorneys'difficulties in predicting case outcomes and opines that law school education itself may contribute to the gap between attorneys' predictions and jurors; verdicts: As a child, my dad (a criminal defense attorney) routinely ask my family and me to predict the outcomes of his trials. We were usually correct. My dad was not. At some point during...
May 21, 2014
In the book "Beyond Right and Wrong", David Donoghue, and intellectual property attorney and partner at Holland & Knight in Chicago, reflects on attorneys'difficulties in predicting case outcomes and opines that law school education itself may contribute to the gap between attorneys' predictions and jurors; verdicts: As a child, my dad (a criminal defense attorney) routinely ask my family and me to predict the outcomes of his trials. We were usually correct. My dad was not. At some point during...
Patent Litigation Study Shows Rise in Suits, Awards
May 21, 2014
The number of patent suits filed in district courts continued to rise in 2013 and has more than doubled in the past five years, according to the first-ever patent litigation year in review published by the legal analytics company Lex Machina. Using data from its popular legal analytics platform, Lex Machina published a report Tuesday that offers insight into judges, districts, patents, damages and filings. It focuses on major trends and developments in patent litigation during 2013. Plaintiffs...
May 21, 2014
The number of patent suits filed in district courts continued to rise in 2013 and has more than doubled in the past five years, according to the first-ever patent litigation year in review published by the legal analytics company Lex Machina. Using data from its popular legal analytics platform, Lex Machina published a report Tuesday that offers insight into judges, districts, patents, damages and filings. It focuses on major trends and developments in patent litigation during 2013. Plaintiffs...
Mediation Quotes
May 20, 2014
In the vast majority of cases, clients have a greater likelihood of making a devastating settlement decision in a mediation session than watching their attorney conduct a devastating cross-examination at trial. - Randall Kiser Some of the sharpest men in argument are notoriously unsound in judgment. I should not trust the counsel of a smart debater, any more than that of a good chess-player. - Oliver Wendell Holmes The appropriateness of lawyers' probability judgments has important implications...
May 20, 2014
In the vast majority of cases, clients have a greater likelihood of making a devastating settlement decision in a mediation session than watching their attorney conduct a devastating cross-examination at trial. - Randall Kiser Some of the sharpest men in argument are notoriously unsound in judgment. I should not trust the counsel of a smart debater, any more than that of a good chess-player. - Oliver Wendell Holmes The appropriateness of lawyers' probability judgments has important implications...
How Lawyers’ Intuitions Prolong Litigation
May 20, 2014
Most lawsuits settle, but some settle later than they should. Too many compromises occur only after protracted discovery and expensive motion practice. Sometimes the delay precludes settlement altogether. Why does this happen? Several possibilities—such as the alleged greed of lawyers paid on an hourly basis—have been suggested, but they are insufficient to explain why so many cases do not settle until the eve of trial. We offer a novel account of the phenomenon of settling on the courthouse...
May 20, 2014
Most lawsuits settle, but some settle later than they should. Too many compromises occur only after protracted discovery and expensive motion practice. Sometimes the delay precludes settlement altogether. Why does this happen? Several possibilities—such as the alleged greed of lawyers paid on an hourly basis—have been suggested, but they are insufficient to explain why so many cases do not settle until the eve of trial. We offer a novel account of the phenomenon of settling on the courthouse...
@Google Presents: Daniel Kahneman
May 19, 2014
Daniel Kahneman, recipient of the Nobel Prize in Economic Sciences for his seminal work in psychology that challenged the rational model of judgment and decision making, is one of our most important thinkers. His ideas have had a profound and widely regarded impact on many fields—including economics, medicine, and politics—but until now, he has never brought together his many years of research and thinking in one book. In the highly anticipated Thinking, Fast and Slow, Kahneman takes us on a groundbreaking...
May 19, 2014
Daniel Kahneman, recipient of the Nobel Prize in Economic Sciences for his seminal work in psychology that challenged the rational model of judgment and decision making, is one of our most important thinkers. His ideas have had a profound and widely regarded impact on many fields—including economics, medicine, and politics—but until now, he has never brought together his many years of research and thinking in one book. In the highly anticipated Thinking, Fast and Slow, Kahneman takes us on a groundbreaking...
Visual Law Services are Worth a Thousand Words—and Big Money (via ABA Journal)
May 19, 2014
Mike and I have been on this beat for quite a while and are happy to see this getting coverage. The basic proposition is that...
May 19, 2014
Mike and I have been on this beat for quite a while and are happy to see this getting coverage. The basic proposition is that...
Visual Law Featured in New ABA Journal Cover Article
May 18, 2014
Visualization of legal information is the focus of Bob Ambrogi’s cover article in the new issue of ABA Journal: Visual...
May 18, 2014
Visualization of legal information is the focus of Bob Ambrogi’s cover article in the new issue of ABA Journal: Visual...
