Digital Current Blog

As I pull up my chair in the conference room, I am reminded of the technological advancements in the business community over the past five years. No longer do I have to catch a 6 a.m. flight for a single day of meetings or lug documents and material with me as I go.

In this day of "anytime, anywhere" technology, I have the ability to show my face to the audience, share my documents with colleagues and collaborate with subject experts, all from the comfort of my office. It makes me wonder... how far are we from conducting other transactions and affairs in our life, in a virtual environment?

I recently ran across this article that describes a virtual health environment in the not so distant future.

During this economic crisis I always think of two things;

1. Are there any recession proof businesses?
2. How has a recession impacted the legal community?

I have come to the conclusion that no businesses or industries, including legal, are recession proof. The old adage that "people are still suing each other" is quickly shifting in methodology. During these economic times, companies are looking for ways to control their legal costs by improving their internal investigations and reducing the necessity for litigation. I think law firms, just like other industries, are forced to become creative with their services and add value where ever possible.

I found this article written by Chaton T. Turner, assistant counsel for the University of Pittsburgh Medical Center. She discusses the positive effects of UPMC's Alternative Dispute Resolution, both in terms of customer satisfaction and reduced cost compared to litigation.

I have learned that while you can deny making certain verbal statements, in today's digital world, you can never deny a statement made via e-mail because it is electronically recorded. As I have been monitoring the Countywide fiasco over the past few weeks, like everyone else, it made me think about the e-mails that are being circulated during this economic downturn by corporate leaders. The power of email is that it can take the casual and informal thoughts of a corporate leader and archive them as statements with prior knowledge and devious intent once the SEND button is pressed. Today's digital trail is far more incriminating than yesterday's paper trail.

Here is an article I found about the Countrywide fiasco that you also might find interesting.

Like a lot of people who own or run a business, I try to keep aware of trends in my specific industry and business in general. I read several articles recently about the rise in litigation over the past few months. I’ve included a link to one I found.

http://rtoonline.com/Content/Article/Nov08/US-Litigation-trends-110108.asp

I understand how important it is to keep your business moving during litigation or investigation. A significant disruption to business can be devastating to your bottom line. In order to mitigate your risk and cost during the threat of litigation, I think identifying and collecting data safely, completely and quickly is critical. The benefits of today’s technology with regards to document management include ROI, efficiency and reliability. It is vital to your company that you utilize this new technology so that business as usual can continue while legal proceedings are taking place.

The security threat to data assets is not confined to just the outside world of hacking. Cyber-security threats can also be posed by the employee base, through intentional and unintentional actions. Because of rules and document governance such as HIPAA, Sarbanes Oxley and FRCP, the security and management of digital files is of high importance and costly if failed.

President Obama recently announced the creation of a cyber czar position... check out the story.

I was listening to the radio on my way to work yesterday, and one of the political commentators was talking about the economy. These days, they all are, and rightly so. All the doom and gloom started to make me think about what it means for people who work in the legal industry. Companies, even small companies, still get sued during times of economic downturn. You may wonder what this means to you and your business.

While I was doing some research, I found this tip for small business owners interesting. Spending some money upfront can save your company from more expensive legal fees should litigation be necessary. Don't risk your company's financial future by being unprepared for the possibility. The value of eDiscovery is that it can identify risk before it occurs.

Labels: Digital Current, eDiscovery