LegalOps Highlight: News, Trends and Legal Technology Vol. 1 By Onit October 11, 2019 Business Process Management 4 Minute Read The LegalOps Highlight is a bi-weekly blog series that features relevant news, market trends and legal technology updates from the legal ecosystem. The content is curated from legal and business trade publications, consulting and analyst firms, and Onit | SimpleLegal partners, customers and subject matter experts. Be sure to subscribe and follow Onit and #LegalOpsHighlight on LinkedIn and Twitter for updates! Highlights Bloomberg Law: ANALYSIS: Avoiding Common Pitfalls of Poorly Managed Policies OCC has settled with the SEC for $20 million for their cited policy violations, and everything they’re doing as remediation can be used as a model for any firm to update their policies. Managing policies can be challenging or overwhelming at times, but automated solutions are only becoming more widely used, they can help offset some of this burden. This analysis goes over some of the most common organizational policy pitfalls and how to avoid serious risks. At Onit, we are dedicated to helping customers automate processes to avoid the type of risk outlined in this article. Law Technology Today: The Growing Threat of Ransomware: How to Protect Your Firm Anyone who has ever received an email from their CEO asking you to “do them a quick favor” and “get a bunch of gift cards” has probably had the net cast on them from a phishing operation. Tomas Suros outlines all the increasing cyber security threats law departments and firms face every day and what legal professionals can do to protect themselves from malicious attacks on their sensitive data. Suros mentions that there’s a new ransomware attack every 14 seconds, but legal professionals can take just a few precautions to substantially reduce their risk. The Law Society Gazette: Finalists of SRA Tech Challenge Revealed Recently, legal operations and services have been on a kick to become more ubiquitous and accessible. The Solicitors Regulation Authority Legal Access Challenge in the UK has dwindled its 117 entries to just eight finalists, all of which have received a £50,000 investment in their venture. Highlights from the finalists include a chatbot designed to give legal advice to those with learning disabilities, a tool for document workplace harassment and bullying and a preparation AI tool for workplace tribunal claims. Two winners will be chosen from the top eight in March. Yahoo Finance: Legal Services Market Worth $1,045.2 Billion by 2025 | CAGR: 4.1%: Grand View Research, Inc. Grand View Research just released a report that outlines how law firms are changing to meet the multifaceted requirements of their clients. The report also says that corporate legal services is about to be the most rapidly-growing segment, and this could be attributed to the rise in accessible auditing and reporting tools and the ever-rising quality of data recording. This article outlines some of the highlights on how legal services delivery is evolving and which fields service providers should be looking out for most. Above the Law: New Program Offers Law School Grads an Alternative Career Path Top legal professionals have been clamoring for law schools to get with the program and start teaching newer classes of lawyers how to be better businesspeople to better deliver their services to clients. Consilio and University of Florida Law’s eDiscovery Program have developed a new summer internship program to potentially shape new lawyers into eDiscovery specialists. This program is designed to give law students a holistic view of the eDiscovery lifecycle and seems to be a huge benefit to both UF Law grads and Consilio’s eDiscovery team. Onit is proud to partner with Consilio as part of our Strategic Alliances Program. Law.com: The Future of Legal Operations Onit and SimpleLegal CEOs Eric M. Elfman and Nathan Wenzel could be classified as legal meteorologists considering how often and accurate their forecasts for the legal operations landscape tend to be. Both CEOs have pooled their legendary legal ops experiences to tell us where the industry is headed and how legal ops teams can best bridge the gap between lawyers and the business of law. This article summarizes the key findings in their report Driving Disruption in the Law Department, and it’s a perfect diving off point for anyone who wants a better idea of how to use legal ops to improve performance on more tactical parts of their legal function. 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