As such, lawyers have due diligence obligations when it comes to entrusting data to
EDD vendors.
Over at Law Technology News, columnist Craig Ball writes that, like any other company in this recession,
EDD vendors are vulnerable to bankruptcy or business failure.
Fresh from LegalTech New York, Monica Bay raises an eyebrow at the huge spike in
EDD vendors from previous years:
A LITTLE CHLORINE IN THE GENE POOL FOR
EDD VENDORS:
You need only attend a legal trade show or scan the ads in a legal periodical to know that competition is fierce among
EDD vendors.
Doherty also managed to get onto the show floor to meet with
EDD vendors, and even a few non-EDD tech companies (they are in fact out there).
While the ratio of
EDD vendors at the show is still extremely high, much of the talk surrounding the show revolves around Twitter and its uses and implications for lawyers.
EDD vendors risk competing against large law firm customers.
«I just wrote a mini-essay in LTN (p5, July) about a huge trend that I've noticed this spring — that
EDD vendors who are changing from a «reactive» approach to e-discovery in favor of a «consulting» approach.
«Kroll is the latest
EDD vendor to announce a new consulting arm — Ontrack Consulting — and I'm sure there will be more.
«I think this is outrageous,» Bay writes, «and I challenge every law firm managing partner, GC, and
EDD vendor to drop everything, call HR, check records, and remedy this TODAY.»
The Common Scold then lays out a six - part Survivor - themed plan for
any EDD vendor who doesn't want to get voted off the island.
Not exact matches
Next month in part two, I will survey
EDD blogs and look at some
vendors» sites that include useful resources.
The second part, Keeping Up With
EDD Blogs and Tools, focuses, as the title suggests, on
EDD blogs and also on
vendor sites with useful information.
A combination of sophisticated software, deep experience handling
EDD, and standardized approaches allows some
vendors and one law firm to change the price model.
This means that firms and
vendors may find themselves competitors for
EDD clients.
If we are, as Monica Bay says, entering the era of
EDD 2.0, perhaps these enterprising
vendors will follow The Disassociate's advice and launch the era of Marketing 2.0, in which cash is the new swag.
Were I on the BigLaw buy side, I would not give my
EDD business to
vendors competing for the same consulting dollars.
I've read recently complaints of attendees at the LegalTech New York show that 90 % of the
vendors called themselves e-discovery
vendors, with the implication that
EDD was being over-sold and over-hyped.
-- Post Process: «His final remark was a challenge to
vendors: he said that after the country's legal system «is fixed,» effectively ending the e-discovery gold rush, he hoped that
vendors would put as much zeal into crafting KM solutions as they currently do with
EDD.»
Based on
vendor - provided data, interviews and other research, the survey ranks the top
EDD companies and provides information on a number of others.
Kaplan engaged corporate counsel responsible for litigation in a conversation to spark a dialogue on legal holds, data management,
vendor selection, the amendments to the FRCP, litigation readiness, technology and e-discovery cost drivers and gleans some best practices in reducing
EDD costs.