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Without a legal spend management strategy in place, firms might be paying 5% to 10% more each year, in undetected costs. When attorneys are paid according to their “billable hours” it’s imperative that these precious hours of legal work are safeguarded. It’s one thing to note expenditures to outside counsel, and another thing altogether to track legal spend, manage, and budget wisely.
Smart legal departments work by utilizing an effective strategy that incorporates one or more legal process sourcing types. Whether it’s out-sourcing, in-sourcing, or tech-sourcing, finding the right combination that is the perfect fit for your legal department will maximize your legal and business efficiency.
Multidisciplinary teams (MDT) provide actionable and useful insights to their organizations. Each individual on an MDT brings their expertise to the table, influencing better decision-making that brings organization-wide benefits.
Autonomous self-driving vehicles have finally run into the issue that the legal world had been worried about. Accidents involving self-driving vehicles put lawmakers and law enforcement in a tight spot. Who is to blame for fatal accidents – the car or the driver? A self-driving vehicle allows the driver to temporarily step away from the brakes, leaving the navigation and driving to the vehicle’s AI. Unlike a human, when a potential accident is about to happen, an AI goes through hundreds of possible outcomes via algorithms. It then chooses an outcome which will, according to its algorithm, cause minimal damage. But this can cost precious lives.