Extending Contentious Matter Extranets to Transactions. Introductions. Audience Poll 4/08/ _ _ _ _1 1

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1 Extending Contentious Matter Extranets to Transactions Michael Asen Intralinks Tom Barce Fulbright & Jaworski Michelle Mahoney Mallesons Stephen Jaques Beth Patterson Allens Arthur Robinson Organization Management Monday,08/22/2011 2:30 p.m. - 3:30 p.m. #LPSPG3 tombarce michmahon Introductions Michael Asen, Vice President, Product Marketing, Intralinks, New York Tom Barce, Assistant Director Practice Support, Fulbright & Jaworski L.L.P. Houston, Texas Michelle Mahoney, Director Applied Legal Technology, Mallesons Stephen Jaques, Melbourne AUST Beth Patterson, Director Applied Legal Technology, Allens Arthur Robinson, Sydney AUST Audience Poll Who provides transactional support to their attorney s now? Who has not had any exposure to supporting transactions? Who uses their litigation support platform to host deals? Who uses a deal specific platform to host deals? Who has written their own deal platform? _ _ _1 1

2 Agenda What are transactional services and extranets? What types of legal matters can transactional extranets support? Why extend into transactional services? What team structures have worked? What do you need to consider? Agenda What are the technology considerations? Who are buying transactional services? What are the top four pearls of wisdom from the panel? What are the future predictions in the transactional services market? What are transactional services? Cloud based services provide comprehensive solutions for M&A transactions with numerous benefits: Organise the vast amounts of due diligence information throughout the entire deal lifecycle in a Central Repository that is globally accessible for a disparate deal team access more buyers without adding time. Best in class Security both inside and outside the company firewall. Faster Transactions reduce your deal timeline by an average of 30 days. Valuable Business Intelligence know which buyers have reviewed what information and when. Reduced Risk accelerate due diligence and ensure compliance by maintaining a record of deal room activity. Value to Corporate Development Teams be ready for deals at a moment s notice and preserve each opportunity for historical reference and re-use _ _ _1 2

3 What types of legal matters? Aria uses Intralinks to centralise management of documents, contracts and regulatory filings that had been locally managed by 120 divisions and several law firms: save $500k annually in reduced FedEx charges, other e-storage and labour efficiencies. information ready at a moment s notice for the next deal, compliance or litigation matter. Trademark Policing Database: multiple trademark for single client. designed by Practice Support, managed by paralegal. Deal Room for Airline and Real Estate Assets: proactive review by client and legal team. selected portions of the site released to potential bidders as needed. What types of legal matters? Deal room for global client to manage wholesale structural changes: 20,000 documents. global participants covering true 24 hour access requirements. due diligence review on regulatory and internal alignment to policies and laws. Deal Room for IT Managed Services Tender Process: client engagement direct with legal technology team. secure confidential repository with Q&A accessible 24 x 7. Why extend into transactional services? Value proposition for law firm: leverage skill mix legal, technical, project management. integrated team with lawyers. maintain confidentiality. revenue generating. Value proposition for clients: secure collaboration available 24 x 7 anywhere in the world with electronic audit trail. efficiencies with integrated service. minimise risk single point of control for legal, process & technology _ _ _1 3

4 What team structures work? Mid level attorney liaison, paralegal or admin with exposure to proposed technology, Project Manager with experience in target practice area, Database Administrator support desk. Highly experienced multi-jurisdictional team, of legal technology professionals with specialisation for transactional and litigation services. Integrated multi-jurisdictional team with some specialisation for both transactional services and litigation. What do you need to consider? What are the risks? retaining multi-disciplinary skill mix. maintaining streamline, consistent but flexible processes. communicating legal vs business vs technical. often tight timeframes with no room for error. 3 rd party software security, reliability, performance, support. Perceptions? why isn t it quicker? why does messy data cost more than organised data? What are the technology considerations? Current litigation technology who s driving? security model (printing, monitoring, downloading, password caching). flexibility (structured searching and flexible folder structure). ease of use (little to no training for end users). support staff (24 x 7 global demands). data volume and uploading methodology. Deal specific technology: all of the above. relative cost. bi-directional integration (calendars, DMS). advanced functionality (already tuned to practise specific issues) _ _ _1 4

5 Who are buying extranets? Law firms and corporations looking for central control of information, information security and readiness, saving time and ROI. The changing attitudes of buyers: understanding and embracing the cloud. wanting collaborative communities for their internal & external eco-system. global expansion into new markets for M&A focus on Brazil, Russia, India, China, also evaluating Indonesia, Turkey, Vietnam etc. executive teams and boards are seeking greater visibility into the transaction pipeline and individual deal activity the days of simply writing off bad debts are in the past and C level oversight has increased as a result. Top 4 Pearls of Wisdom Look for a single technology for managing transactions/deals, litigation, documents, contracts, regulations, board of directors and clients/law firms. You are likely to have a solution available internally to meet the needs of some non contentious matters, with enough flexibility to customise the organisation of the documents which users can access with minimal to no training, under the appropriate security requirements. Meet early and often to educate, get decision points up front, have a strong understanding of deal objectives and become part of the deal team. Don t underestimate the needs for the 3 C s: Clear, Concise Communication which underpins the 4 P s: People, Process, Planning and Project Management. Future Focus Future predictions for the transactional services market? Transactional services will be viewed as part of a holistic enterprise solution and subscription an ongoing relationship between customers, their vendor and their community. Cross functionality of systems will continue to increase, leading professionals from different practise areas to be using (part of) the same platform in very different contexts. Continuation of pricing evolution. Increased vendor due diligence for some asset types, to package assets for faster sale. Transactional services will continue to grow through B2B private clouds. Expect packing and pricing models of legal and technical services for transactional services to evolve _ _ _1 5

6 Q&A Live Review tweeted questions Extending Contentious Matter Extranets to Transactions Michael Asen Intralinks Tom Barce Fulbright & Jaworski Michelle Mahoney Mallesons Stephen Jaques Beth Patterson Allens Arthur Robinson Organization Management Monday,08/22/2011 2:30 p.m. - 3:30 p.m. #LPSPG3 tombarce michmahon _ _ _ _1 6