E-discovery attorneys in demand
With the emergence of new technology that allows for paperless law practices, a new type of attorney is in demand, the e-discovery attorney. While these attorneys once exclusively held document review positions, the prevalence of electronic litigation documents has afforded them more responsibilities.
Attorneys with a technology background and experience with e-discovery are in great demand, as per American Lawyer. A growing number of Am Law firms are recruiting e-discovery attorneys to manage electronic discovery, process internal data, manage outside vendors and monitor legal issues and rulings.
Another growing trend is for attorneys with knowledge of e-discovery to open their own consulting companies to help clients manage electronic information. In this regard, experts forecast that 2006 may turn out to be the beginning of a new era for litigators.
Plaintiff funding: a growing trend
Law firms requiring loans to grow their practice are increasingly resorting to an innovative technique called plaintiff funding. When there is a cash flow deficit, a law firm may take a loan from a financial body by accepting a non-recourse cash advance. The loan is based on law firm account receivables and the plaintiff has no obligation to repay the advance if he loses the case.
This technique is applicable in civil lawsuits, such as personal injury, negligence, workman's compensation, product liability, among others and some types of commercial litigation cases, including patent claims and other intellectual property matters, breach of contract and fraud.
With the current scenario of court scheduling or fee payment delays, this trend will allow small or financially troubled firms to accept new cases without having to merge with a larger firm.
New York City lobbyists made $36 million in 2005
According to a new annual report, Kasirer Consulting displaced Greenberg Traurig as the top lobbying firm of last year. The report tracked 223 political lobbying firms, their clients and lobbying costs throughout 2005.
As reported, Kasirer Consulting made $2.4 million, while Greenberg Traurig earned $2.3 million. Kasirer's top clients included real estate, construction and telecom corporations. Greenberg's top clients ranged from hotel giants, a golf course, manufacturers and another consulting firm.
LexisNexis' new business model
US-based information provider LexisNexis has announced new goals for 2006. The company is planning to beef up it's presence in the UK market, strengthen its existing brand and produce growth in the double digits. Currently, UK law firms pay less than U.S. law firms for legal information services. Lexis sees this as an opportunity for the company to grow in the UK legal market.
The LexisNexis, owned by the Anglo-Dutch group Reed Elsevier, is currently in the process of upgrading its services. Unlike its chief competitor Factiva, which is active in the corporate market, Lexis is strong in the litigation segment, supplying information to judges. Lexis is trying to build specific packages for its end users, including in the corporate sector. Clients need to know their customers better and this is where Lexis is trying to step in.