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Nate Silver: How To Make Better Predictions
October 26, 2013
Many predictions, Nate shared with the audience, fail because as humans we are “hard wired to find patterns.” As a result many of our predictions are not based on a tested and retested process, but rather on our overconfidence in seeing “a signal”. As a result of this overconfidence, as well as a general lack of understanding of probability and uncertainty, these predictions fail and typically at a great cost to either the business or society. During his keynote, Nate shared 3 suggestions...
October 26, 2013
Many predictions, Nate shared with the audience, fail because as humans we are “hard wired to find patterns.” As a result many of our predictions are not based on a tested and retested process, but rather on our overconfidence in seeing “a signal”. As a result of this overconfidence, as well as a general lack of understanding of probability and uncertainty, these predictions fail and typically at a great cost to either the business or society. During his keynote, Nate shared 3 suggestions...
Do You Want to Be Facebook Friends or Do You Want to Serve Me?
October 26, 2013
In Reed Smith's Global Regulatory Blog this week, Cynthia O'Donoghue breaks down a Michigan state court decision earlier this year where the judge permitted service via Facebook message. O'Donoghue tells us that in this case, the foreign defendant, a website operator, did not have a valid registered address listed on their website. The plaintiffs filed a motion for substituted service and demonstrated to the judge that the email address listed on the defendant's domain registration was accepting...
October 26, 2013
In Reed Smith's Global Regulatory Blog this week, Cynthia O'Donoghue breaks down a Michigan state court decision earlier this year where the judge permitted service via Facebook message. O'Donoghue tells us that in this case, the foreign defendant, a website operator, did not have a valid registered address listed on their website. The plaintiffs filed a motion for substituted service and demonstrated to the judge that the email address listed on the defendant's domain registration was accepting...
Why Lawyers Will Love the iPad Air and the iPad Mini with Retina Display
October 25, 2013
How do you improve a product that is already great? One approach is to add new features. For example, Apple improved upon the iPhone 4 by adding Siri to the iPhone 4s, then added a larger screen to the iPhone 5, and then added the fingerprint scanner in the iPhone 5s. New features are nice because they stick out; they provide an easy answer to the question "why should I upgrade?" Another approach is to simply make the overall experience better — an approach that lacks a sound bite, but can result...
October 25, 2013
How do you improve a product that is already great? One approach is to add new features. For example, Apple improved upon the iPhone 4 by adding Siri to the iPhone 4s, then added a larger screen to the iPhone 5, and then added the fingerprint scanner in the iPhone 5s. New features are nice because they stick out; they provide an easy answer to the question "why should I upgrade?" Another approach is to simply make the overall experience better — an approach that lacks a sound bite, but can result...
Bankruptcy Filings Drop 12 Percent in Fiscal Year 2013
October 25, 2013
Bankruptcy cases filed in federal courts for fiscal year 2013—the 12-month period ending September 30, 2013—totaled 1,107,699, down 12 percent from the 1,261,140 bankruptcy cases filed in FY 2012, according to statistics released today by the Administrative Office of the U.S. Courts. Additional statistics released today include: Business and non-business bankruptcy filings for the 12-month period ending September 30, 2013 (Table F-2, 12-month); A comparison of September...
October 25, 2013
Bankruptcy cases filed in federal courts for fiscal year 2013—the 12-month period ending September 30, 2013—totaled 1,107,699, down 12 percent from the 1,261,140 bankruptcy cases filed in FY 2012, according to statistics released today by the Administrative Office of the U.S. Courts. Additional statistics released today include: Business and non-business bankruptcy filings for the 12-month period ending September 30, 2013 (Table F-2, 12-month); A comparison of September...
Big Data: Big Deal or Big Win?
October 25, 2013
Big Data for Law Departments Most law practices are by nature reactive. The in-house counsel don’t know in advance what products liability suits will be filed or what transactions management will pursue, so the lawyers stand ready to tackle whatever might come their way. But some in-house counsel are looking into the business itself for leading indicators. One in-house lawyer I recently interviewed reviews production quality control data with manufacturing line managers in order to better understand...
October 25, 2013
Big Data for Law Departments Most law practices are by nature reactive. The in-house counsel don’t know in advance what products liability suits will be filed or what transactions management will pursue, so the lawyers stand ready to tackle whatever might come their way. But some in-house counsel are looking into the business itself for leading indicators. One in-house lawyer I recently interviewed reviews production quality control data with manufacturing line managers in order to better understand...
The Pros and Cons of ADR Clauses
October 25, 2013
Employers across the country have witnessed a flurry of significant decisions in recent years culminating in several U.S. Supreme Court rulings reinforcing the enforceability of arbitration agreements generally, and more specifically, class action waiver provisions. These headline-grabbing cases have sparked renewed debate as to whether arbitration programs are advisable, particularly in California where the fate of class action waivers is less certain and existing case law imposes a number of requirements...
October 25, 2013
Employers across the country have witnessed a flurry of significant decisions in recent years culminating in several U.S. Supreme Court rulings reinforcing the enforceability of arbitration agreements generally, and more specifically, class action waiver provisions. These headline-grabbing cases have sparked renewed debate as to whether arbitration programs are advisable, particularly in California where the fate of class action waivers is less certain and existing case law imposes a number of requirements...
New San Francisco Forum Promotes E-Discovery Mediation
October 25, 2013
Resolving e-discovery disputes is a daunting process for even the most well-staffed law firms. It’s an even greater challenge for smaller firms with leaner budgets and limited opportunities for training. This scenario is motivating e-discovery reform proponents to focus on mediation for both the management of the electronic data discovery process and resolution of EDD disputes in civil cases. Monday, the inaugural meeting of the San Francisco Bay Area E-Discovery Forum was held at Hanson Bridgett,...
October 25, 2013
Resolving e-discovery disputes is a daunting process for even the most well-staffed law firms. It’s an even greater challenge for smaller firms with leaner budgets and limited opportunities for training. This scenario is motivating e-discovery reform proponents to focus on mediation for both the management of the electronic data discovery process and resolution of EDD disputes in civil cases. Monday, the inaugural meeting of the San Francisco Bay Area E-Discovery Forum was held at Hanson Bridgett,...
Crowdsourcing Legal Information: Fad or Change Agent?
October 24, 2013
The wisdom of the masses may not be worth much, but publishers seems to be taking into account the wisdom of experts. The impact...
October 24, 2013
The wisdom of the masses may not be worth much, but publishers seems to be taking into account the wisdom of experts. The impact...
Wage-and-Hour Litigation on the Rise
October 24, 2013
Connie Lensing, a top FedEx Corp. lawyer, gave U.S. business leaders at theU.S. Chamber Institute for Legal Reform 14th Annual Legal Reform Summit a tough pill to swallow: Wage-and-hour class action lawsuits are on the rise. Speaking at the Wednesday event in Washington, D.C., Lensing—who is also on the board of directors and executive committee for the ILR—cited statistics from a new ILR trends report that says a major wage-and-hour litigation influx has come, overtaking other types of workplace...
October 24, 2013
Connie Lensing, a top FedEx Corp. lawyer, gave U.S. business leaders at theU.S. Chamber Institute for Legal Reform 14th Annual Legal Reform Summit a tough pill to swallow: Wage-and-hour class action lawsuits are on the rise. Speaking at the Wednesday event in Washington, D.C., Lensing—who is also on the board of directors and executive committee for the ILR—cited statistics from a new ILR trends report that says a major wage-and-hour litigation influx has come, overtaking other types of workplace...
A GC and a Litigation Counsel’s Fireside Chat
October 24, 2013
VIEWING LITIGATION THROUGH A BUSINESS LENS Ken Siegel: As a GC, I am the primary interface between outside counsel and my clients--the executives and the board. My clients always view litigation through a business lens: What are the costs/benefits and odds of prevailing in litigation? What business goals will be achieved by a "win" and what harm sustained by a "loss"? A key part of my job is to translate "litigation" into "business," and then provide legal counsel and advice to the ultimate...
October 24, 2013
VIEWING LITIGATION THROUGH A BUSINESS LENS Ken Siegel: As a GC, I am the primary interface between outside counsel and my clients--the executives and the board. My clients always view litigation through a business lens: What are the costs/benefits and odds of prevailing in litigation? What business goals will be achieved by a "win" and what harm sustained by a "loss"? A key part of my job is to translate "litigation" into "business," and then provide legal counsel and advice to the ultimate...
