Bloomberg Law

Law firms and legal departments sit on a goldmine of litigation data, but it is rarely corralled and put to work. Instead, litigators rely on personal experience, word-of-mouth, and rudimentary document database searches, losing out of efficiency, knowledge sharing, and cost savings.

Authors: Alexandra M. Lucas

Legal teams commit the cardinal sin of reinventing the wheel - often at considerable expense - when they cannot easily identify similar work done by others. Attorneys may also take inconsistent positions for the same client, fail to raise every legal argument in their toolbox, or miss litigation trends that impact their clients' bottom lines.

Using readily available data to improve practice operations and decision-making is easier than you think. By tracking actionable information matters you can ensure that institutional knowledge is truly for the institution, and - privilege permitting, can be accessed by anyone at any time.

The author leveraged her firm's litigation data by creating a database profiling key information from nearly 900 distinct litigation matters, which increased collaboration, transparency, and client value. What follows is a list of tips and tricks for others who seek to harness the power of their law firm's or company's litigation data.

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Reproduced with permission. Published April 13, 2021. Copyright 2021 The Bureau of National Affairs, Inc. 800-372-1033. For further use, please visit bna.com/copyright-permission-request/.