Buying it is Cheaper and Safer than Renting It
by Daniel Garrie with contributions from Anthony I. Giacobbe, Jr.
According to industry analysts, a company with more than 10 legal matters a year should evaluate the acquisition of an electronic discovery solution. Besides the potential financial savings, a company can achieve the peace of mind of controlling their own data.
A dollar saved is a dollar earned. The costs of third-party technical and legal experts add up and the potential impact to the business is sizable, with the sky being the limit. See Sean M. McNee, Productivity as a metric for visual analytics: reflections on e-discovery. It is important to realize that the costs of getting, saving, searching and producing vary respective to the number of documents at issue. See J DeBono. Preventing And Reducing Costs And Burdens Associated With E-Discovery: The 2006 Amendments To The Federal Rules Of Civil Procedure, 59 Mercer Law Review 963 (Spring 2008). This means that if a company implements a solution in-house, one that synchronizes the document retention schedules with the systems, achieving control of the information that is stored and archived, the costs can fall as far as the number of documents retained.
Buying and executing an in-house solution is not always a simple feat. It requires collaboration and energy from the legal, technology, and business stakeholders to be successful. However, buying it certainly gives a company substantially more control over the costs associated with responding to a regulatory investigation, judicial case, or any document intensive production process.
While it is important not to discount the utility of outsourced solutions, when the proverbial fact pattern of the case requires, such solutions can be costly and result in a dependency on the vendor and a relinquishment of control over information and legal-business autonomy for an organization. Of course, bringing eDiscovery in-house requires an investment, but looking past a single quarter of earnings, an in-house solution can provide organizations with substantial tangible benefits year-after-year.
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Featured Blogger Daniel Garrie with contributions from Anthony I. Giacobbe, Jr.
Daniel Garrie is a principal with CRA International, a global consulting firm that offers economic, financial, and business management expertise to major law firms, industries, accounting firms, and governments around the world. Daniel specializes in legal technology risk management. He consults primarily to in-house counsel and IT departments on information management strategies in the United States and internationally, e-policy guidance synchronization (policies and operations), e-discovery litigation risk management and legal technology strategies, integration, and best practices. His areas of expertise range from digital privacy, e-discovery, VoIP, e-Discovery, SOX, digital sexual harassment, and spyware. He is frequently sought after presenter at legal and technology seminars and conferences worldwide.
Prior to joining CRA, Mr. Garrie was a vice president of LegalTech Group where he provided subject matter expertise and project management in engagements pertaining to e-Discovery, vendor selection, litigation readiness, digital privacy, and digital information risk management.
Mr. Garrie is admitted to practice law in New York and New Jersey, and currently serves as editor-in-chief of the Journal of Legal Technology Risk Management.
Anthony I. Giacobbe, Jr.
Tony is Of Counsel in the New York office of the law firm of Zeichner Ellman & Krause LLP. He represents major financial institutions and other clients in civil, criminal, regulatory and compliance related matters. Tony also represents clients in connection with investigations initiated by Congress and by federal, state and local prosecutors and regulators. Tony received a B.A. in Government from Georgetown University in 1989. In 1993 he received a J.D. from Columbia Law School and an M.B.A. from Columbia Business School. He currently serves as an adjunct professor at New York University.
Tony writes and lectures on electronic discovery and technology issues to various corporate management,accounting and technology groups. Tony is a member of the e-discovery working group of the Sedona Conference, a leading think tank dealing with the intersection of law and information technology.
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