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Tracking new laws and its effects on business (Countrywide)

This 80-lawyer department, serving a financial services giant, worked five months in 2004 to develop a Lotus Notes system where lawyers can track new statutory and regulatory requirements. The system also identifies the lawyer responsible for tracking the law and the date it will go into effect. The lawyer making the entry explains how the change will affect the business division he or she is responsible for.

Other lawyers can also find out about the upcoming change and advise their clients. Central compliance pitches in to implement and check on changes in procedures(Corp. Legal Times, Sept. 2005 at pg. 32)

This avatar of technology-enabled law practice impresses me. It captures knowledge, has built-in incentives for data entry, knits together law and compliance and clients, and improves everyone’s performance.

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