Due diligence ; know what matters ! Is it safe to outsource due diligence tasks ?

Legal firms, outsourcing, most documentation and data collecting tasks, is no breaking news. The amount of work that leaves the lawyer’s office every day, to be handled by professionals half way across the earth has been growing steadily. At the end of the day the legal profession is business, and taking a decent check back home is important.

An, important support function…

Due diligence is an important support function and especially important when it comes to civil litigation disputes, borrowings contract analysis etc. It can take days on end to research, review, audit, carry out background checks and investigate a particular case. That is why most lawyers assign tasks such as due diligence,coding and document review to legal back office professionals.

And most of the work lands up in busy offices located in developing countries like India.

The security factor !

Legal documents are sensitive. A small slip-up can lead to far reaching consequences. It is important that lawyers first verify if the infrastructure and security protocols followed in the organization are safe enough to handle legal data.

It is imperative that a thorough check is carried out to find if the systems and networks are debugged. A confidentiality agreement and the track record of the firm are important. So what else matters?

The job requires more than just analytical skills…

Just closely reviewing documents isn’t enough. The job requires the hawk’s eye of a legal expert to spot discrepancies. Not conducting a thorough due diligence check can lead to law suits and loss of reputation. And that is why someone who has prior experience and a good knowledge of legal intricacies is best suited for the job.

Here are the questions you should ask…

For corporate due diligence

• Do you understand corporate compliance?
• Know about the issuance of securities?
•  Can you offer contract management analysis?

For employment

• Do you have an experienced team to review contractual, statutory terms and obligations?
• Do you have knowledge of unions and salary settlements?

For licenses

• Can you check the validity of licenses?
• Review the sufficiency of existing licenses?
• The procedures for transfer of licenses…

Litigation…

• ·        Can you determine what is the defense taken?
• ·         Assess the monetary and legal implications of adverse decisions.
• ·         Find out what is the materiality of the disagreement?

Be a part of the process !

Outsourcing doesn’t mean you can put your feet up! For a smooth sailing due diligence support services . work closely with the third party company to steer clear of bottlenecks. 

The Amount of Legal Data I Handle Drives Me Round the Bend !

What is common, between a smart lawyer, straight out of a John Grisham novel, and the head of a legal consultancy firm in New York have in common? It could well be the amount of legal data they have to handle. The legal information an average lawyer receives, reviews and works with, can be astoundingly huge.

Legal coding, and assorting and arranging information, is no child's play. And that is why more often than not, legal firms find litigation coding a tough nut to crack.

How can indexing be so complicated ?

We've all worked on projects and indexed our work as early as high school. But why does legal coding make legal professionals break in to a cold sweat? It is the sheer volume of work involved. The process is fraught with complexities and can trip you up if you are not looking closely!

A pile of work !

Finding the legal document you need on a hearing morning can be like searching for a needle in a hay stack. You tell yourself every New Year that you are going to arrange it in to a neat and structured database. And quickly forget about it.

Coding, subjectively and objectively !

Sorting out files by date and sorting out files by specifics, is the basic difference between subjective and objective coding. If sorting out files by date sets your nerves on edge, sorting them by relevance can be even more tiresome. Letting your intern handle the entire litigation coding process could mean two things. An intern, with frayed nerves, who is waiting to run away or hastily, coded documents.

Image conversion for a perfect legal database !

Converting data into images and using the OCR system is essential to maintain a streamlined data base. But who has the time for it ? You'll have to painstakingly convert an array of textual data into images. And ensure the OCR docume

nt is accurate and updated.

Unitizing disparate data and focusing on logical and physical determination of data storage and allocation is another major pain in the neck.

If you don't have the budget to hire an army of professionals, and not a maverick multi- tasker, outsourcing could be a sensible option.

There are several professional litigation coding services companies that offer coding support. Letting someone else handle your coding headaches can prove to be a smart move.

Are Legal Document Reviews Taking Up Too Much of Time ?

There is a lot that happens inside a law firm. You have cases to battle, clients to answer and the mousy intern to train. The demands of the job force lawyers to look for litigation support outside the office. It is a trend that has many takes as detractors.

Security of client data and the legal knowledge of the document review team are the major concerns while outsourcing legal document review tasks.

Oops where did my dollars go?

It is a known fact that legal document reviews take up a lot of time. They can occupy your staff for hours on end. As countless frustrated lawyers would attest, it is a job that can be a time drainer. And prove to be pretty expensive in the long run.

The whole document review rigmarole...

Well it is one long and often nerve wracking process. There are five key steps that need to be followed. And it is important that the person following them understands the legal game. Has infinite patience and doesn't drop a bombshell in the law practice's budget.

Privilege review.

Responsiveness review.

Review of subject matter.

Deposition summary review.

Additional support for complex documents.

The documents are verified whether they are subject to the attorney/client privilege. Whether, the documents pertain to a certain discovery request and specific issue. The documents are summarized and additional e-discovery support is needed for complicated document projects. All this and a lot more is needed for a thorough document review process.

How outsourcing can take the sting out of reviewing tasks!

Entrusting sensitive documents to a sweet talking semi-professional can land your practice in hot water. Hiring additional staff to take care of it means setting aside thousands of dollars every year for reviewing documents. And that is why an increasing number of law firms turn to legal transcription companies to handle document review tasks. Working with professionals who charge a lot less than in-house staff is certainly a good deal. But it isn't all gravy. Like in all other fields cheap labor could mean unprofessional work.

What you need to keep in mind while making a choice

Ask for the list of clients the company's worked with.

Speak to a few clients and enquire about the kind of work handled by the firm and accuracy levels. 

Make sure every assignment you send out is accompanied by a small list of specifications you need.

With a little luck and effort you can finally bid a relieved goodbye to time consuming and back breaking, legal documentation reviewing services tasks.

The Recently Announced Mediation Services by Intellectual Property Right Services Is a Shot in the Arm for Small Businesses

Small businesses given a rough deal ? 

It is becoming a huge challenge to run a small business. The economic climate can break the resolve of the steeliest of entrepreneurs. Extending tax cuts to about 98% of the US population can help small scale businesses thrive. But it certainly needs a lot more support from the government, for the small business owner to lean back in his chair and have a relaxed weekend.

Taxing reforms !

The fiscal cliff threat is not yet over with economists predicting another major financial cliff-hanger later this year. A lot of uncertainty prevails in the small business circles. Most solo or small business owners are taxed at personal rates which can be a lot higher than corporate rates.

A ray of hope !

The announcement by Intellectual property minister Lord Younger of a new Mediation services has come as a huge relief for small businesses. The mediation that can be the helpline of small businesses involved in an intellectual property dispute.. For decades it meant expensive and lengthy battles in court. With inexperience in litigation matters and limited resources, business owners, usually, had to put up with IP infringements.

With the recent IPO reform there is finally some reason for owners to smile !

Wait a minute that's mine…

Fighting over copyrights and trademarks has long been the domain of the big players. The whole world knows about the " One click" dispute between Amazon and Express Lane, or the Mattel's scuffle over the Bratz doll with MGA entertainment INC. Not very far in to the future, the little tattoo studio down the road can also fight over its intellectual rights.

It needn't be the playground of companies with a multibillion turnover alone.

Patents, trademarks, copyrights et al !

To survive in the dog eat dog world of business, it is important for businesses to carve out an identity. To, be unique and have a distinct brand identity. And it is logos, trademarks and brand mascots that help in brand recall. What was once accessible to the biggies has now become accessible to small scale businesses with a limited budget as well, thanks to the recent IPO reform. Intellectual property rights services are also available to help out entrepreneurs new to the game, to assert their rights.

No more tripping over red tape !

Few things can strike more fear in the minds of creative people more than red tape. It can be a major deterrent for someone with a smart idea but no patience or dollars for struggling with red tape. This can prove to be the much needed shot in the arm for entrepreneurs with big dreams but small resources!

Litigation Coding Services From California Based Company Named ParaLegalStar

The paramount litigation coding support professionals from ParalegalStar will help legal professionals for all the litigation coding and other support requirements at an affordable costs.



ParalegalStar demonstrates multidisciplinary and cross-cultural high caliber work force that will support you in every aspect of your legal projects.
We stand out from the flock
• 24x7 customer support professionals
• 24x7 Technical support professionals
• High-production standards
• High profile team
• State-of-the-art technology indulgence
• Robust infra
• Competitive pricing
• In-Depth knowledge of the US and UK legal systems
• Military level security for data transfers.