jordanfurlong + contract   18

Norton Rose Fulbright considers the legal status of smart contracts
Murphy gives Nick Szabo's example of a vending machine as predetermined series of events kicked off by adding value to the system – it's more sensible to describe this as a process than as a contract.

"That is where the industry is at. However, smart contracts are still potentially a very powerful tool because they allow people to automate a lot of things that are done manually now, or are currently dependent on independent third parties to perform. That's why financial institutions and technology companies are very interested in this technology."

A common quip in relation to smart contracts is that these will bring about the end of lawyers, at least lawyers that don't understand computing code.

Murphy said: "I think it is possible that understanding code may be a service offering that lawyers will want to provide in the future.

"It depends on how the smart contract industry evolves. It goes back to my point about smart contracting versus smart processing. The more sophisticated the smart contract becomes, the more likely it is that clients are going to want to understand what the code is doing, and to ensure that the code is doing what they think it is doing.
blockchain  contract  it  robolawyer 
january 2016 by JordanFurlong
Part-time palaver | The Economist
WHAT is an employee? Judges in several American courts are grappling with just this question. Most notably, some drivers for Uber, an app-based taxi service, are suing to have themselves declared employees, rather than independent contractors, in a bid to gain more rights. With technology making it ever easier to farm out small tasks, and freelancing on the rise, the traditional definition of employment may eventually break down. Yet the importance of the “employee” label—and the benefits that come with it—is often overstated.
september 2015 by JordanFurlong
Prism Legal Finally, A Law Firm Offers Contract Management Software and Service - Prism Legal
Law firms make good money drafting contracts. Absent a dispute, however, executing a contract ends a law firm’s business on that contract. That has long struck me as a lost opportunity. Why only set up the rights and obligation; why not also track and help enforce them?
contract  innovation  it 
september 2015 by JordanFurlong
Are Contract Attorney Markups Of Any Concern to Clients | The Legal Intelligencer
Some have described a 513 percent markup as "stratospheric" while others have said a firm's internal profitability is none of the client's business as long as the client feels it is getting the perceived value from the business transaction.
firms  pricing  laterals  contract 
june 2015 by JordanFurlong
CodeX » Projects
CCODR is a joint project of CodeX and the Gould Center for Dispute Resolution intended to improve access to justice in courts. Its goal is to design, implement and evaluate an online dispute resolution (ODR) platform for handling small claims and family cases that are referred to court-connected mediation. The CCODR project leverages available technology and innovative process designs to offer an effective, affordable and scalable solution to courts’ growing difficulty to provide these services in traditional offline means. In recent years, the vast majority of state court systems were hit with budget cuts which resulted in diminished access to justice. In California, for example, most of the state’s 58 superior courts had to reduce their hours, suspend services, or shut down branches altogether. Many court-connected alternative dispute resolution (ADR) programs, such as mediation and arbitration, were also forced to reduce activities. Thus, court-connected ADR programs, which were originally instituted as a means for containing the overflowing case-dockets and providing a meaningful recourse, are no longer able to meet the growing needs. The CCODRD project examines the practical feasibility and normative desirability of instituting online court-connected ADR services that leverage technology and civil society resources to maintain this important path to justice. The project revolves around three core themes: (a) how can ODR technology expand the access of persons of limited means to courts through readily-available applications? (b) How can ODR systems improve the functioning of, and cooperation between, individuals and entities that deliver court-connected ADR services? And (c) How can ODR reduce the costs and increase the accessibility of ADR processes, without diminishing parties’ sense of procedural justice? By piloting a court-connected ODR system and evaluating its operation, the project’s goal is to propose an appropriate wide-scale implementation of ODR tools in courts.
odr  contract  innovation  it  robolawyer 
july 2014 by JordanFurlong
Prism Legal Can Law Firms Tap Latent Market for Corporate Contract Management? » Prism Legal
Smart law firms would ask these and other questions and then find answers so they could develop new business.  While this effort may start closer to consulting than to legal work, it will likely surface a reasonable number of contracts that actually do require high-end and probably even hourly billable counsel.  Moreover, for clients who want better value from firms, this seems a good way to add it.
process  contract  clients 
january 2014 by JordanFurlong
Strategic Legal Technology :: May :: 2012
in 2009 28% of managing partners thought more use of contract lawyers was a permanent trend, this year, 66% do.
temporary  laterals  contract 
may 2012 by JordanFurlong
The Future Role of Contract Attorneys | eTera Consulting
The second key point to remember is that information is a must have in order to make business and legal decisions regardless of the case matter. Bottom-line: you need information that comes from data. According to the International Data Corporation (IDC), the amount of digital information created, captured and replicated in the world as of 2002 was 5 exabytes (5 billion gigabytes), rising to 988 exabytes by 2010 (nearly a 20,000%increase). As a result, expenses associated with storing, collecting, searching and producing electronically stored information (“ESI”) in discovery has increased tremendously. And you can bet the growth of data will only continue and the costs associated with data management will increase. While technology is helping to significantly decrease the amount of data to be reviewed and lower costs, there is still a critical data set that has to be looked at by people. Thus, contract attorneys will continue to play an important role on document review projects.
december 2011 by JordanFurlong
Contract attorneys: an asset never properly utilized | The Posse List
In a special post on Ralph’s blog, Larry emphasizes that contract reviewers should become/can become more valuable to a project when they are wisely employed in a project. Their talents and potential contributions to a project are often wasted.
contract  competition 
november 2011 by JordanFurlong
Make or Buy in the Age of the Free-Agent Lawyer - ABA Journal
Thankfully, the New Normal is putting a new face on the contract attorney.

Here are the key developments:


The supply of really well credentialed and experienced attorneys who are available for adjunct work is staggeringly large. That presents a huge opportunity for law departments to “make more” in-house.

Recruiting firms and quasi-law firms are elegantly packaging this experience as an alternative to traditional law firm use, avoiding terms with poisonous connotations like contract attorney and temporary attorney.

Technology developments permit more robust and secure collaboration among a department’s core team of lawyers and its adjunct lawyers.
contract  talent  laterals  clients 
october 2011 by JordanFurlong
Counsel services | Features | The Lawyer
Notwithstanding these quibbles, everyone involved with Axiom, clients and lawyers alike, admit that they are precisely that - nitpicking for the sake of taking a critical view. The lawyers employed by the firm are there because it suits their lifestyles to pick and choose when and if they work; while thanks to Axiom’s ­rigorous recruitment process the clients know that nine times out of 10 they will get exactly what they have asked for.
contract  innovation 
july 2011 by JordanFurlong
Uncertainty and Stigma Plague Growing Legions of Contract Lawyers - News - ABA Journal
I’m a contract lawyer at an Amlaw 100 firm, and I do the exact same work as do “regular” associates—draft pleadings, take deps, and even examine a trial witness every once in a while. I’m a 6th year associate, I get paid 40% less than the 1st year in the office next to me—- but the firm bills me out at “regular” rates. Upward to $380 an hour. Moreover, my pay is directly dependent on the hours I bill. No work, no pay.
contract  talent  laterals 
june 2011 by JordanFurlong
Study: For Law Firms, Cost-Cutting and Alternative Fees Here to Stay
According to the survey, 94.5 percent of the responding firms now offer some form of nonhourly billing, while all firms with 150 or more attorneys do so. The survey also found that firms are increasingly relying on centralized decision-making bodies to approve such alternative billing arrangements and—in a sign that control costs is a driving factor in the shift toward nonhourly billing--using a cost-analysis approach to setting such fees.
laterals  contract  pricing 
june 2010 by JordanFurlong
Study: Part-Time Partners Pull Their Weight
here's good news on the part-time front, reports The Project for Attorney Retention (PAR), an organization that promotes work/life balance policies in the legal profession. PAR has just released what it describes as a "ground-breaking study," spotlighting the success of partners who work part-time. "This report...shows that law firms can create successful reduced-hours programs--and that part-time lawyers and their law firms can flourish when they do," the report starts off.
Bookmarks  contract  partners 
september 2009 by JordanFurlong
Cadwalader’s new manpower model: contract attorneys - The Posse List
In July 2009, Cadwalader, Wickersham & Taft put 34 associates on an involuntary sabbatical. Now, as reported by Above the Law (click here) the firm is offering to hire them back as contract attorneys, with possible hourly pay between $45 and $65. The web site Law and More (click here) follows up with two major issues emerging with that development: (1) will Cadwalader be the “first mover” on the predicted new manpower model for the law firm, and (2) will former associates accept this?
Bookmarks  innovation  laterals  contract  recession 
september 2009 by JordanFurlong
A glimpse into the abyss « Enlightened tradition
I am not sure what this would look like. I think there are two (potentially competing) reasons why law firms are organised as they are. The first is that the current model has served private practice lawyers well so far. That is not to say that this will remain true. John Flood and his co-author, Peter Rouse, chief executive of 7 Bedford Row Chambers, have started to make a compelling case for change from this perspective. However, the current model has also grown up in response to client needs. It is at least arguable that clients play some part in designing law firms. There is compelling evidence (see Ron Friedmann and others, passim) that client pressure will define the law firm model to a much greater extent in years to come. The Flood/Rouse model may serve clients well, but it is not clear from the article how or why clients would prefer this approach to one of the many others on offer.
Bookmarks  Clementi  innovation  laterals  contract 
may 2009 by JordanFurlong
John Flood's Random Academic Thoughts (RATs): Putting Lawyers on Contract is Good Business Sense
Although legal work has become more commoditised and an increasing proportion of it shipped offshore, it is perhaps lawyers themselves, both associates and partners, who are the commodities, traded and marketed by recruiters and head-hunters. New service models such as Axiom Legal, Rimon Law and Lawyers Direct are flourishing. One recruiter is now even advertising ‘pay as you go lawyers’. At the same time, the equity partnership prize is becoming ever harder to win, and even less sought after by today’s younger lawyers who are more mobile and happier than ever to migrate to newer opportunities.
Bookmarks  Clementi  innovation  laterals  contract 
may 2009 by JordanFurlong

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