Where The Legal World Talks.
What's LexTalk World?
Click Away Creators have established LexTalk World as a 360-degree media solution for the Global Legal Industry.
LexTalk World brings together several innovative platforms for Legal Professionals to Connect, Learn & Grow:
Key Legal Concepts & Practices
GOVERNANCE, RISK MANAGEMENT & COMPLIANCE
Unraveling the aspects of key concepts and their practices in the field of Law. Governance describes the overall management approach through which senior executives direct and controls the entire organization, using a combination of management information and hierarchical management control structures. Governance activities ensure that critical management information reaching the executive team is sufficiently complete, accurate and timely to enable appropriate management decision making and provide the control mechanisms to ensure that strategies, directions and instructions from management are carried out systematically and effectively.
Risk management is the set of processes through which management identifies, analyzes, and, where necessary, responds appropriately to risks that might adversely affect the realization of the organization's business objectives. The response to risks typically depends on their perceived gravity, and involves controlling, avoiding, accepting or transferring them to a third party, whereas organizations routinely manage a wide range of risks (e.g. technological risks, commercial/financial risks, information security risks, etc.
Compliance means conforming to stated requirements. At an organizational level, it is achieved through management processes that identify the applicable requirements (defined for example in laws, regulations, contracts, strategies and policies), assess the state of compliance, assess the risks and potential costs of non-compliance against the projected expenses to achieve compliance, and hence prioritize, fund and initiate any corrective actions deemed necessary.
AI technologies, especially machine learning and natural-language processing, are already impacting the legal sector. Whilst nobody claims that AI will replace the role of lawyers any time soon, a 2016 report by The Boston Consulting Group predicts that technological solutions could perform up to 50% of the tasks currently carried out by junior lawyers. Just as other industries have been disrupted by digitalization and smart technology, the business model of a law firm suggests that, combined with a fragmented industry and pressures on legal process management, AI will have a large effect on future legal practice. Other important topics shall be AI’s current application worldwide, its impact on the Legal World and the way to the future. Impact on the Legal Industry engaged in consulting, research, litigation processes, statutory obligations, etc. A sneak peek focus on AI would be ease of doing business, cost-effectiveness, faster analysis and decision making, uniformity of AI across the Globe and a lot of other allied areas.
CLOUD SOFTWARE & SYSTEMS
Maximizing the Cloud and improving the hybrid approach as efficiency and greater accessibility continue to take priority; the legal industry is increasing its cloud usage. However, with growing pressure to reduce costs and adhere to client needs, is moving to the cloud the right move for you and which model works the best for your organization. Examining the risks and benefits of moving major enterprises to the cloud, considering the hybrid model and how this approach can allow firms to cater better to client needs, anticipating trends within cloud adoption and implementation models to help identify the future relationship between the cloud and the legal industry, addressing security and data access challenges associated with cloud technology, identifying strategies that legal departments and law firms can incorporate to help mitigate risk factors and ease client fears surround data access, pinpointing key safety measures cloud service provides which in the future can help calm legal department and law firm fears.
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court. The focus on this will revolve primarily on the complexities, bottlenecks, standardized and customized solutions.
E-Discovery refers to discovery in legal proceedings such as litigation, government investigations or freedom of Information Act requests, where the information sought is in electronic format (often referred to as electronically stored information or ESI).
Electronic discovery is subject to rules of civil procedure and agreed-upon processes, often involving review for privilege and relevance before data are turned over to the requesting party.
Electronic information is considered different from paper information because of its intangible form, volume, transience and persistence. Electronic information is usually accompanied by metadata that is not found in paper documents and that can play an important part as evidence (e.g. the date and time a document was written could be useful in a copyright case).
DATA ENCRYPTION & PROTECTION
As our businesses become more diverse and complex, our prized possession is the data that needs proper preservation, encryption and protection. The legal industry plays a unique role in the above process to safeguard the business interest of Individuals, Organizations and Governmental Agencies. Experts discuss on these important aspects of the business involving Data.
GDPR) is a regulation in EU law on data protection and privacy in the European Union (EU) and the European Economic Area (EEA). It also addresses the transfer of personal data outside the EU and EEA areas. The GDPR aims primarily to give control to individuals over their personal data and to simplify the regulatory environment for international business by unifying the regulation within the EU. Superseding the Data Protection Directive 95/46/EC, the regulation contains provisions and requirements related to the processing of personal data of individuals (formally called data subjects in the GDPR) who reside in the EEA, and applies to any enterprise—regardless of its location and the data subjects' citizenship or residence—that is processing the personal information of data subjects inside the EEA.