As a legal professional, how are you organizing and presenting your contract negotiation and review information?
Contract playbooks are all the buzz for legal and sourcing pros today. There is much speculation about the advantages of playbooks and what they have to offer lawyers during the contract negotiation and review process. In this article “Who Needs a Playbook Anyway,” Abraham Plammootil, an Associate Director on Pangea3’s Corporate and Compliance team, defines a contract playbook in the following way: a comprehensive arrangement of information that, in relation to the review and negotiation of recurrent contracts by a team, in a collaborative manner based on a predetermined negotiation strategy, is designed to facilitate standardized and efficient review.
Abraham takes the discussion to the next level by highlighting key elements of the playbook. In doing so, he further elaborates on important themes such as the comprehensive understanding of information, recurrent contracts, collaborative review based on predetermined negotiation strategy, standardized review, and efficient review. Although he states that playbooks are not a “substitute for training, conceptual understanding and aptitude a lawyer possesses,” he emphasizes the importance of this tool in terms of better organization, delivery and efficiency for team members.
Read full article here.
August 25, 2014
Today’s business transactions require strict compliance with new and existing laws. Risk experts are trying to understand how to implement business-centered strategies so that you go beyond compliance and incorporate risk mitigation into every aspect of your business. One of the main questions your organization should ask is what is the ultimate goal of an effective compliance program? And, in case of a crisis, what are the key steps a compliance expert should take immediately? A solid compliance program should reduce risk and increase value while effectively integrating the two. Thomson Reuters is hosting its annual Compliance & Risk Summit on June 18th in NYC, and welcomes all legal, regulatory and compliance professionals to this thought-leadership program. At this event, you will learn more about how complex organizations manage the challenges associated with the rapidly changing compliance and risk mitigation landscape. Dave Curran, Thomson Reuters’ Global Director, Risk & Compliance will be leading two panels addressing these topics:
- How to prepare for the volume and velocity of Regulatory Change
- How risk mitigation behaviors can and should drive business value
- How to manage the escalating cost of compliance
- How fostering relationships with markets, assurance partners and customers drives growth
- How great compliance and risk programs should be linked to business growth
- How to mitigate risk through better leveraging talent, processes and technology
The Summit also provides opportunities for you to network with more than 500 business professionals in the compliance industry. The interactive sessions will not only deliver presentations, but they will also offer a platform for you to share your case studies and thoughts on current compliance issues. Bring your questions and ideas, and put on your strategic thinking hats!
Interested? Visit here for more information on this complimentary event.
June 17, 2014
If your organization is exploring opportunities to work with managed review providers, it’s important to recognize that not all vendors are the same. Sampada Parulekar, Director of Litigation Solutions, was the project co-manager on the first document review project Pangea3 ever worked on. In her new article, Sampada offers helpful tips and advice for organizations looking outside of their legal department for litigation support.
Sampada notes that, “There are distinct best practices a quality legal solutions provider should adhere to. Ideally, a legal solutions provider should have attributes that invoke your trust and confidence, overtime becoming a true extension of your company and a fully vested managed review partner. To that end, there are several “must-haves” and “nice-to-haves” that should be on your checklist when first evaluating potential providers.”
Read the full article now >>
About the Author:
Sampada Parulekar, Director, Litigation Solutions
Sampada has been with Pangea3 since day one and manages large, complex litigation document review projects offshore and at our onshore offices, in addition to training attorneys in project management. She has managed document reviews for litigation matters including products liability class action, financial litigation mortgage backed securities, financial companies’ due diligence, and pharmaceutical patent infringement cases. She received a LL.B. and B.G.L.S. from Government College in Mumbai and a Masters in Human Resource Development Management from Mumbai University.
April 22, 2014
As overall litigation costs rise, in-house legal departments are making strides to reduce legal spend, however there are hidden costs lurking in discovery that can effect budgets. Edward Sohn Esq., Assistant Vice President of Litigation Solutions at Pangea3, offers helpful tips on how to mitigate these potential pitfalls and offers best practice recommendations in his article, “Top Ten Tips to Combat the Hidden Costs of Discovery.”
Learn more about how you can proactively combat hidden costs by utilizing appropriate technology effectively; explore pricing options for subscription or fixed-fee arrangements for cost control and predictability and more.
Click here to read this article >>.
March 13, 2014
As organizations wrestle with heightened supervisory scrutiny and exponentially expanding regulatory requirements, compliance risk continues to grow. The influx of new rules continues to outpace internal resources and systems, so strategic planning is becoming essential. As a result, many organizations are redesigning their compliance programs to target improvement to the way they manage regulatory information.
Today’s organizations are recognizing that they need timely, high quality regulatory information that they can quickly action. But what additional critical preparations are needed to make regulatory change achievable? Join us for an insightful discussion on how to improve regulatory information management to reduce compliance risk.
This webcast will help you:
- Discover methods to identify, classify and assign actionable regulatory information in your organization
- Understand how your organization can implement a regulatory information management program
- Uncover how supervisors assess regulatory information management and what firms should look out for in 2014
- Jens Harpoth, Compliance Manager at UBS Investment Bank
- Greg Matthews, Managing Director at KPMG
- David Curran, Global Director, Risk & Compliance at Thomson Reuters
- Henry Engler, Regulatory Intelligence Editor at Thomson Reuters
Date: Thursday, March 20, 2014
Time: 2:00 p.m. ET / 1:00 p.m. CT / 11:00 a.m.
Register Now >>
March 11, 2014
Have you ever considered classifying the changes made to contracts in the course of negotiations as a way to help better manage risk and improve efficiency?
Abraham Plammootil, an Associate Director on Pangea3’s Corporate and Compliance team, leverages his process expertise to offer contract attorneys an in-depth look at the reasons parties propose changes during negotiations. In his article, Abraham outlines different labels for classifying changes based on the reason for the change (different, unclear, or unreasonable). He delves further to explore the mindset behind proposed changes in these categories. In doing so, Abraham uncovers and describes ways both parties can take real steps towards strive towards a mutual understanding in contract negotiations. He concludes his article with a discussion on organizing and storing versions of sample language that clearly address recurrent deviations to standard positions.
Read the full article now >>
About Abraham Plammootil:
Abraham focuses on providing technical guidance, organizing legal knowledge and structuring, and building playbooks and other knowledge objects for all Pangea3’s corporate clients with complex drafting requirements. He also creates training materials, and is responsible for technical training for the Pangea3 corporate drafting team. Abraham sets best practices and tools for staffing, budgeting, and quality tracking and management.
February 26, 2014
In her article, “Potential Technology Approaches For Contract Lawyers,” Rebecca Thorkildsen, a Director of Legal Solutions at Pangea3, highlights four general approaches to contract management employed by lawyers and the role technology can play in improving processes.
“Although the lifecycle of a contract can be characterized the same way among most law departments,” Rebecca notes, “unfortunately, the role that technology plays within that lifecycle for a law department is not one-size-fits-all.”
Rebecca, who’s expertise is highlighted by over 18 years of experience in legal management and technology consulting, recommends that law departments take a good look at their current methodologies and then consider as a group what level of insight would benefit their practice moving forward.
Read the full article now
December 26, 2013
Danielle Haugland, Esq., Director of Legal Solutions at Pangea3, will be leading a timely discussion at the ACC’s San Diego Chapter 11th Annual GC Roundtable and ALL Day CLE entitled, “Man v. Machine: The Appropriate use of Automated Tools in Litigation.”
The legal landscape has invariably been altered by the introduction of a host of new automated tools, including technology-assisted review, predictive coding and machine translations. It can be a challenge for lawyers to keep with all the latest advances and to separate the substance from the hype. In her presentation, Danielle will discuss how these exciting new technologies can be utilized to complement human judgment and intelligence. She will explore ways legal departments and their outside counsel can achieve cost-effective, accurate and defensible legal solutions.
For more information on the event and to register click here
December 10, 2013
It is clear Big Data is changing the practice of law. Today’s modern GC’s are discovering new ways to make Big Data work for them, and also uncovering new potential risks that must be mitigated. Vishal Anand Esq., Associate Director, Pangea3, assesses these challenges and offers best practices in his article, “Ten Powerful Impacts of Big Data on Big Law – And How the Modern GCs are Making It Work for Them.”
In this article you will find insights into the ways others are utilizing technology to their advantage, and learn about the pitfalls of implementing new processes and procedures. Key topics include cutting-edge solutions that are helping lawyers predict case outcomes, the debate over “Bring Your Own Device” (BYOD) practices, utilizing Predictive Coding, and the benefits and concerns of using Social Media.
Click here to read more.
October 3, 2013
Pangea3 voted “Best Legal Process Outsourcing Provider” and “Best Managed Document Review Services Provider” in the 2013 New York Law Journal Reader Rankings
As announced by the New York Law Journal this week, Pangea3 has been voted “Best Legal Process Outsourcing Provider” in its annual reader ranking survey for the 3rd year in a row. Pangea3 is proud to be the LPO provider of choice for many of the world’s leading corporations and law firms.
We are also honored to be voted #1 in the new category of “Best Managed Document Review Services.” Pangea3′s Litigation team is managed by esteemed legal experts across the globe in Dallas, Texas, and Mumbai and Delhi, India. Our document review teams are known for the outstanding quality and accuracy of their work, and are thrilled to be recognized for their accomplishments by happy clients and the readers of NYLJ.
September 23, 2013