Menu
Blog Archives
How Litigation Financiers Value A Claim
December 2, 2014
When pricing a litigation claim (sometimes referred to as a litigation-related asset), there are four primary components...
December 2, 2014
When pricing a litigation claim (sometimes referred to as a litigation-related asset), there are four primary components...
Law Firm Billing Gets Smart With Tech
December 1, 2014
For law firms to get smart about bidding on work they need a legal management infrastructure with deep knowledge and understanding of their matters, staffing resources, billing rates and spending data. This knowledge infrastructure, or business intelligence, goes beyond a stand-alone matter management application to include historical and real-time information on billing rates, invoices and costs, and incorporates a facility to calculate alternative fee arrangements and use third-party data to compare...
December 1, 2014
For law firms to get smart about bidding on work they need a legal management infrastructure with deep knowledge and understanding of their matters, staffing resources, billing rates and spending data. This knowledge infrastructure, or business intelligence, goes beyond a stand-alone matter management application to include historical and real-time information on billing rates, invoices and costs, and incorporates a facility to calculate alternative fee arrangements and use third-party data to compare...
Artificial Intelligence and Predicting Supreme Court Outcomes
December 1, 2014
In a recent post over at Concurring Opinions, Harry Surden (Colorado) concludes with the following prediction: "In the not too distant future, such data-driven approaches to engaging in legal prediction are likely to become more common within law. Outside of law, data analytics and machine-learning have been transforming industries ranging from medicine to finance, and it is unlikely that law will remain as comparatively untouched by such sweeping changes as it remains today."
December 1, 2014
In a recent post over at Concurring Opinions, Harry Surden (Colorado) concludes with the following prediction: "In the not too distant future, such data-driven approaches to engaging in legal prediction are likely to become more common within law. Outside of law, data analytics and machine-learning have been transforming industries ranging from medicine to finance, and it is unlikely that law will remain as comparatively untouched by such sweeping changes as it remains today."
Number of In-House Counsel Who Use Litigation Financing Doubled
December 1, 2014
What are the biggest “business challenges” facing general counsel? Some 80 percent of GCs identified top business challenges as increased pressure on legal budgets, staffing and spending, according to a recent survey from Burford Capital. That represents close to a 10 percent jump over the number cited last year. Contrast this result with outside lawyers’ top challenges listed in the survey as demand for discounted fees (cited by 74 percent) and more need for business development (cited...
December 1, 2014
What are the biggest “business challenges” facing general counsel? Some 80 percent of GCs identified top business challenges as increased pressure on legal budgets, staffing and spending, according to a recent survey from Burford Capital. That represents close to a 10 percent jump over the number cited last year. Contrast this result with outside lawyers’ top challenges listed in the survey as demand for discounted fees (cited by 74 percent) and more need for business development (cited...
The Teen Brain “Shuts Down” When It Hears Mom’s Criticism
November 30, 2014
We all know that teen-parent relations can be a tricky business. Now neuroscientists from several leading US universities think they’ve found some new brain evidence that helps explain why. * * * Here’s the main take-away: when listening to Moms’ criticism, and for a period afterwards, the teens’ brains showed more activity in areas involved in negative emotions (no surprise there), but they actually showed reduced activity in regions involved in emotional control and in taking other...
November 30, 2014
We all know that teen-parent relations can be a tricky business. Now neuroscientists from several leading US universities think they’ve found some new brain evidence that helps explain why. * * * Here’s the main take-away: when listening to Moms’ criticism, and for a period afterwards, the teens’ brains showed more activity in areas involved in negative emotions (no surprise there), but they actually showed reduced activity in regions involved in emotional control and in taking other...
Richard Susskind: A Response to the More for Less Dilemma
November 29, 2014
I argue that there are only two responses to the more for less dilemma. The first is what I call the “efficiency strategy,” which involves cutting the costs of legal service. More specifically, I call for the “decomposition” of legal work into component tasks, the more routine and repetitive of which should be undertaken in ways that are much more efficient than the methods of traditional, one-to-one consultative advisers who handcraft and charge by the hour. This leads us into a world of off-shoring,...
November 29, 2014
I argue that there are only two responses to the more for less dilemma. The first is what I call the “efficiency strategy,” which involves cutting the costs of legal service. More specifically, I call for the “decomposition” of legal work into component tasks, the more routine and repetitive of which should be undertaken in ways that are much more efficient than the methods of traditional, one-to-one consultative advisers who handcraft and charge by the hour. This leads us into a world of off-shoring,...
Robothespian: The Robot That Sings, Does Impressions and Mimics You
November 29, 2014
The machines aren’t taking over just yet, but a robot called Norris does a mean Gene Kelly impression and uses technology that could help end car crash insurance disputes. Robot technology is something we’re seeing more and more, be it testing instructions on the International Space Station, rounding up sheepdogs or even playing rock-paper-scissors. An interactive robot called ‘Norris’ has been on show at the Flux Innovation Lounge in London. Norris is robothespian: in his chest...
November 29, 2014
The machines aren’t taking over just yet, but a robot called Norris does a mean Gene Kelly impression and uses technology that could help end car crash insurance disputes. Robot technology is something we’re seeing more and more, be it testing instructions on the International Space Station, rounding up sheepdogs or even playing rock-paper-scissors. An interactive robot called ‘Norris’ has been on show at the Flux Innovation Lounge in London. Norris is robothespian: in his chest...
Business of Law: 2014 Looks Profitable, Wells Fargo Says
November 28, 2014
Another report shows that 2014 is shaping up as a very good year for many large firms. The nine-month survey of 135 firms from Wells Fargo (WFC) Private Bank’s Legal Specialty Group found that overall revenue was up almost five percent. Demand for legal services was up 3.3 percent for “high profit firms.” Additionally, the survey found that in comparison to the first nine months of 2013, demand was up 1.2 percent for the 50 highest grossing firms, 0.5 percent for those firms among the 100 highest...
November 28, 2014
Another report shows that 2014 is shaping up as a very good year for many large firms. The nine-month survey of 135 firms from Wells Fargo (WFC) Private Bank’s Legal Specialty Group found that overall revenue was up almost five percent. Demand for legal services was up 3.3 percent for “high profit firms.” Additionally, the survey found that in comparison to the first nine months of 2013, demand was up 1.2 percent for the 50 highest grossing firms, 0.5 percent for those firms among the 100 highest...
Do Experts or Collective Intelligence Write with More Bias?
November 28, 2014
Britannica and Wikipedia are sources that aspire to provide comprehensive information. They both face similar challenges...
November 28, 2014
Britannica and Wikipedia are sources that aspire to provide comprehensive information. They both face similar challenges...
Ravel Law’s Research Results Now Include Client Alerts from Cooley LLP
November 28, 2014
The legal research site Ravel Law has partnered with the law firm Cooley LLP to pair Cooley’s client alerts with the court...
November 28, 2014
The legal research site Ravel Law has partnered with the law firm Cooley LLP to pair Cooley’s client alerts with the court...
