To celebrate the launch of the partnership between TIMG (LitSupport’s parent company) and global business advisory specialists FTI Consulting, LitSupport, are hosting an information session on the changes in Technology Assisted Review, and what this means for you.
As the financial year draws to an end, at LitSupport we are taking time to reflect on what’s around the corner for us and for our clients. As a business, we have been fortunate.Our market, in particular, the eDiscovery market, is thriving. Business analysts are predicting a consistent annual growth rate of around 25% in the eDiscovery market up until 2020.
Not so long ago, the idea that law firms might outsource any data related functions was unthinkable. Insourcing (allowing a provider to take over a function on the firm’s premises) data related functions was unheard of. Concerns about confidentiality and data security loomed large. Our own in-house research shows that these concerns are still at the forefront of partners’ minds when considering outsourcing or insourcing any function that touches on billable work. Rightly so. When these things go wrong, they can go spectacularly wrong. Law firms are right to be cautious.
International Women’s Day has caused me to pause and take stock. Twenty two years ago, as a young, naïve paralegal in a mid-tier law firm, I had an idea about how things could be done better. Terrifyingly, I quit my job and started my own company, LitSupport.
It’s coming up to 2 years since I sold LitSupport to The Information Management Group (TIMG). Finding the right organisation with the resources, will and expertise to take LitSupport’s services to the next level took a long time. Even despite all the careful preparation, due diligence and intensive discussions, there is always an element of the unknown. I am so happy that all my hopes for the collaboration between TIMG and LitSupport have been realised. I can confidently say that with TIMG’s expert collaboration and resources, LitSupport’s services have developed to a whole new level. Our services are now the most comprehensive and secure on the Australian market.
For the astute litigator, finding the right eDiscovery professional or team to assist you may put you ahead of your competitors. Most lawyers are busy. More often than not, they don’t have time to get on top of technological issues, as well as run their practices. However, in this day and age, they need to understand what’s going on in eDiscovery. One short cut you can use as a lawyer is to build a professional relationship with someone working in the industry who can explain, succinctly and quickly, where eDiscovery is headed and how it can help your practice. This person can then act as your trusted advisor.
LitSupport put together a survey designed to examine how and why Australian firms use outsourcing. We identified a small number of Australian law firms (less than 40) or international firms with Australian offices that we considered leaders in the area of law firm management. More specifically, we were looking for signs of innovation as a response to the systemic changes that are taking place in the market for legal services. On the whole, those executives we asked to respond to the survey had responsibility for financial management of a law firm or were senior partners in management roles.
At LitSupport, we are always keeping our eye on the new technologies and methodologies in our field. Our clients will always get the most appropriate solution for their problem, whether that is the latest technological solution or the application of a traditional management methodology. At LitSupport, we believe that just because a solution is new, it does not necessarily mean that it is appropriate in every situation. There are recent developments, however, that we think will make a big impact on all litigation practitioners.
The team at LitSupport wishes you peace, joy and prosperity throughout the coming year. Thank you for your continued support and partnership. We look forward to working with you in the years to come.
You’ve probably noticed that an increasing number of companies are being served section 155 notices by the Australian Competition and Consumer Commission (ACCC). Failing to comply with a section 155 notice, or knowingly providing information that is false or misleading in response to a section 155 notice, is a criminal offence. Individuals committing such an offence face fines of up to $3,600 or up to 12 months’ imprisonment.