The Glory Days are Over….we are now entering the Renaissance of litigation practice
November 16th, 2008 Filed Under E-discovery, legal news
Remember in the glory days when corporations would shrug off litigation cost as a possible cost of doing business rather than a definite cost of doing business. Corporate legal departments have begun to recognize the need to be more proactive in meeting regulatory and legal requirements. Such departments are also looking for cost-effective ways of meeting the litigation demands of the corporation.
The current financial crisis has been an additional wake up call for many who have not yet got their information management house in order. A poorly managed information system can reak havoc with risk management causing litigation cost to rise three or four times the amount it would be if there is an effective, efficient system in place prior to the litigation. With the increasing cost and decreasing timelines of most litigation, it is critical that a corporation has a rapid response system in place for assessing risk, collecting data, and processing and reviewing information. Run-a-way e-discovcery can make a huge dent in a corporation’s budget. However, there is a way around it. The solution is planning for a litigation before it hits.
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