Once COVID-19 has been declared a worldwide pandemic by World Health Organization (WHO), then the business of law came to a halt as the rest of the world. Many organizations, governments, and industries have to experience the impact of this global pandemic. Arbitration is one of the most acceptable means of dispute resolution internationally. Enterprises, arbitrators, outside counsels, and in-house counsels sought the alternative means to get the arbitration proceeding back to normal, but the…

Enterprises started showing more interest in data-centric security platforms in the recent past. The growing use of email platforms and enterprise collaboration systems required an encryption-based environment that defines permissions for different users and user groups. Access rights (i.e. view, edit, download, print, copy, and forward) could be controlled with next-generation IRM-enabled collaboration solutions. The existing systems and platforms have security features, but these features are not adequate to address modern-day security concerns.  What are…

AI is the new normal for any business these days. Managing tons of documents generated in a fraction of second is no more a manual job. Almost every business software is now using AI technology to automate the process and identify actionable insights from it. Contract management is no exception to this. According to a report presented by KPMG, inefficient contracting causes companies to lose up to 40% of the value on a given deal …

Law firms and the legal industry in general have not been immune to COVID-19. They have had to bring significant technological change into their businesses. International Chamber of Commerce, popularly known as ICC, has recently revised its ‘Rules of Arbitration’ after the COVID-19 pandemic upended the ‘normal course of business’ globally. The need for flexibility, better efficiency and fast track awards, demanded these revisions as mentioned by the ICC Court President. “The amendments to the…

Contracts are the most commonly heard word in the world of business. No matter how big or small your company is, you must have encountered contracts at some point. It is the basic need for any two businesses or partners to collaborate and work in mutual consent. In addition, contracts are very crucial for a company to maintain harmony with their partners or vendors in times of trouble or misunderstanding. Every contract has multiple clauses…

Year 2020 has influenced the business world more than any historical event so far. People are forced to change their lifestyle and business model to cope up with the current situation. Apparently, no industry is untouched from the impact of COVID-19. However, when speaking about the legal industry, there is very little to worry about. With so many remote platforms and software, it is easy to carry on with the usual work practices without stepping…

“Once a party reasonably anticipates litigation, it must suspend its routine document retention/destruction policy and put in place a ‘Legal Hold.” The above definition is easy to understand the ‘legal hold’ process for any legal department or law firm. Legal teams need to ensure that the legal hold notification reaches to each custodian, stakeholder, or contingent staff to preserve data relevant for further investigation. They need to work abruptly before the date loses its vitality,…