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1 1 BeNCh Business Plan bench Business Plan Another experiment by

2 2 BeNCh Business Plan Contents Rationale Product description Market information Costs, Revenue, and Profit Who are we?

3 3 BeNCh Business Plan Rationale In 2010 the NC Bar Association compiled data from the Judicial Performance Evaluation, a survey from lawyers based on their experience with judges.these PDF s included background information judge s education, experience, and work within the judicial system. Results of the survey were published in 2012 and proved to be beneficial in improving judicial performance. Since this survey, there has not been any continued form of judicial review. There also is not an existing resource on judges across the state of North Carolina. Instead this information has been stored in the form of public records. There are more than 400 judges and 19,000 lawyers currently working within the North Carolina court system. These workers leave trails of case dockets which are presented in various ways. Accessing public records can be difficult because they exist online in digital form and in district offices in hard copy. Once they are accessed, the documents are hard to decode because of legal jargon and the general format of the content. All of this information is also difficult to access because there are certain limitations for the public and the format is also confusing. BeNCh would make the judicial system more transparent for law students, lawyers, and judges by providing comprehensive, easily accessible database. This database would organize information through judicial profiles and an overall search system. Court Watch NC, a state judicial watchdog, began tracking judges in Through soliciting attorneys, bailiffs, and court participants they were able to capture about 75% of judges in the state. The samples gathered some attention about certain judges and brought the up the idea that judges should be appointed. BeNCh could be a more objective and accurate analysis of this data. While BeNCh provides hard data in the forefront, it tracks how often judges decisions are reversed, recent cases and opinions in the background. This information can be used to save time and money in both novice and experienced lawyers. The database also provides a judge clearinghouse, featuring judicial profiles that include information on judges experience, education, affiliations, potential bias, and more. Our primary audience includes universities, research groups and lawyers, who are looking to educate themselves about judges in their area and prepare their defenses. BeNCh product will be financed through either weekly, monthly, or yearly subscriptions. LexisNexis, West Law, or other legal research databases are also potential buyers of our product, along with the NC Bar Association.

4 4 BeNCh Business Plan Product Description Accessing judicial information can be difficult because they exist online in digital form and in district offices in hard copy. Once they are accessed, the documents are hard to decode because of legal jargon and the general format of the content. To solve this problem, BeNCh serves as a window into the courtroom by connecting users to profiles of North Carolina judges. BeNCh will provide comprehensive, easily accessible data that tracks how often judges decisions are reversed, along with brief synopses of recent cases and opinions. The database also provides a judge clearinghouse of sorts, with judicial profiles available that include information on judges experience, education, affiliations, potential bias, and more. Our target audience includes lawyers, law firms, and judges. Primarily, our product gives lawyers a strategic advantage in preparing and framing their case defenses. It additionally allows redistricted judges to familiarize themselves with the local judges. BeNCh also attracts a smaller market among law schools and law libraries for research purposes. BeNCh will be financed through monthly and yearly subscriptions. We project obtaining profit in Month 2 from 107 subscriptions. For every additional 100 subscribers we estimate about $12,000 in profit. Our service has the potential to expand to other states and to serve as an add-on to other research databases like West Law and LexisNexis or the NC Bar Association.

5 5 BeNCh Business Plan Market Information Through our background research, we have found that there is a lack of transparency in the judicial system. Not only is accessing public records difficult, but many people find deciphering the legal jargon in cases time-consuming and ineffective. Additionally, law firms are cutting their budgets and utilizing as many online resources as possible to build defenses. It has also been found that there is a significant demand for useful, practical resources that can be utilized by younger lawyers breaking into the field. Established veteran lawyers will gather most of their knowledge and information on judges via word of mouth and personal experience, but new, younger lawyers do not have the same experience. As such, the younger generation of lawyers is looking for an easier way to learn about judges in their districts and how to best prepare their cases. Our position in the market is that of an external or add-on product. BeNCh as a standalone product would exist solely as an online database or an application. It would be sold on a subscription basis to lawyers, judges, and law schools in the same fashion as large databases such as LexisNexis and WestLaw. Rather than competing with these two companies, we could market and sell BeNCh as an addition to their existing systems. Interlaced with these interfaces, it would act as a contributory search system. In this way our product would still be accessed by the same group, but it might be more convenient for that audience. The North Carolina Bar Association s Judicial Performance Evaluation (JPE) program evaluates judges within the District and Superior courts through surveys sent out to attorneys and generates a quantitative evaluation of those judges performance. This is intended to be useful to voters during the elections. In terms of products that are geared toward attorney use, BeNCh would be the first of its kind. Throughout the research process, we found that there are online databases that contain some information about judges, but that none are comprehensive and include a rating system. While the NCBA s JPE provides a quantitative analysis of judges, BeNCh seeks to evaluate judges based on objective data. Rather than through surveys, we will calculate the rate of how often judge s decisions get reversed, as well as the percent of how often the judge s decisions are appealed. Our service also provides information about judges personal and professional background, and a list of past attorneys who have had professional contact with the judges. We will also display the NCBA s JPE rating on the judges profiles.

6 6 BeNCh Business Plan Costs, Revenue, and Profit Cost Breakdown The main cost in launching BeNCh will be a one-time web programming fee of $25,000 to build the front-end and back-end structure of the website. In terms of fixed monthly costs, we have projected a monthly expenditure of $686 in fixed costs, which includes costs for domain name, web hosting, web maintenance, marketing, legal retainer and PayPal subscriptions. While most of the case information needed for BeNCh is available for free via the North Carolina Appellate Courts website, there may be a need to utilize the PACER database, although the cost from using PACER ($0.10 per page download) is unanticipated and not considered a recurring monthly cost. Aside from a $100/month part-time web maintenance specialist, labor costs will be minimal, as our initial projections include a team of student interns working to update case docket content on the website and enter case synopsis data. That team of interns will initially be made up of two interns, with a salary of $9/hour and a projected schedule of 60 hours per month, per staffer. Revenue Generation We will utilize a subscription-based revenue model, where independent users will pay a flat $200 fee per month. Law firms will pay a discounted $180 fee per person each month. Law School libraries will pay $2,500 a year to allow all students access to the database. These prices are extremely competitive based on market research. Many attorneys and law firms pay upward of four figures per month on law databases like LexisNexis and Westlaw, and have expressed frustration that those databases do not have a flat rate. Profit With an aggressive sales strategy, we project a base of about 55 total subscribers in the first month after launch including individual subscribers, law firms, and law libraries. BeNCh will become profitable in Month 2 following another 52-subscriber increase. Our projections show a profit of about $12,000 per every additional 100 monthly subscribers. We have developed cost and revenue models which project that BeNCh will become profitable in its second month of operation. We have also established a pricing model and customer base projections stemming from our market research. The product has been modified in accordance to this research and after multiple rounds of user testing and feedback from industry experts. We are ready to build and test a prototype of the product.

7 7 BeNCh Business Plan Who are we? Our team is made up of four UNC-Chapel Hill undergraduate students with experience in journalism, programming, business and marketing. The bios are below: EDGAR WALKER- POOJA KODAVANTI Edgar Walker is a first-year student from Baltimore, Md. majoring in public relations with a minor in entrepreneurship. He joined Reese News Lab in January of 2014 where he hopes to gain media startup experience. He is the director of scouting and creative content for DMVelite.com and founder of MDHoops.net, as well as an undergraduate consultant at Kenan Institute. Has expertise in social media marketing and media relations. JESSICA PORTER- Pooja Kodavanti is a junior studying business journalism and economics. She is a resident advisor in Kenan Community and started with the Reese News Lab in January Pooja has studied abroad in Summer 2012 in Singapore, Brunei, and Thailand. She enjoys biking, watching movies, and plans to run a half marathon. Pooja tweets KRIS KROI Jessica Porter is a first-year student studying journalism and political science. She started with Reese News Lab in August of She is currently on the reporting track in the journalism school. Her latest writing venture was with Native Eyewear through the Locals Only Project. She serves on UNC Student Government, Craige Community Government, and the Residence Hall Association. Jessica loves running and photography. Kris Kroi is a junior multimedia journalism and production communication double major. She joined Reese News Lab in January of 2014, where she is looking to develop her knowledge and understanding of the media industry through filmmaking and web development. A hiking enthusiast from Asheville, N.C., Kris moved to North Carolina from Albania in 1999 and has aspirations of joining the Peace Corps upon graduation. She maintains her own website at hrisanthikroi.com.

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