As we inch closer to 2010, resolutions and predictions for the New Year are not uncommon. Many companies are addressing hot topics with webinars or at conferences. Even the legal industry and the companies that serve them are making lists. Let’s take a look.
Three Legal Technology Trends That Will Impact Law Firms
Epiq Systems, providers of integrated eDiscovery software for those in the legal profession, think that technology developments will impact the way business is being done at law firms in the coming year.
Epiq is weary of in-house eDiscovery platforms, for though they may lower costs and save time, they may limit a firm’s ability to take advantage of continuing cost-saving improvements in technology. Taking a DIY approach is great for crafts, but not for eDiscovery.
In addition, in an effort to distinguish eDiscovery vendors in a growing industry, companies that use proprietary software will fare better in 2010. Because they will be able to better control ongoing investments in their technology they can leverage their product with cost-savings and time efficiencies, which will ring melodically in the ears of firms looking to buy.
Finally, Epiq predicts that as firms look to work smarter and more efficiently, document review costs will be a focal point for 2010. New Prioritization technologies will help to filter data prior to review, while combining prioritization with traditional key word search will provide the best methodology for tackling costs while speeding review.
If your interest has been piqued, stay tuned. Epiq will be discussing these technology trends throughout 2010 and will be presenting at the upcoming LegalTech Conference in February in NYC.
Compliance Considerations for Social Networking Sites
2010 is also bound to bring discussion about compliance considerations for social media. In fact, on March 17, the Financial Industry Regulatory Authority (FINRA) is hosting a webinar planned to cover compliance and regulatory considerations when using social networking sites to communicate firm business.
Panelists from FINRA will discuss applicable FINRA rules for communicating with the public and will offer practical guidance on how to monitor and supervise social networking sites.
The hour-long webinar costs US$ 50 for members/$100 for non-members and will invite participants to ask questions and engage with panelists. More information, including registration is available online.