Month: March 2021

Categories
eDiscovery

5 Undeniable Facts About eDiscovery

interesting facts about the eDiscovery

eDiscovery is one of the most intriguing topics of discussion when examining the use of technology by the legal profession. It is clear that the act of finding and collecting potentially relevant evidence has morphed into a massive operation that involves large amounts of money, time, and other resources.

eDiscovery never fails to surprise and has constantly challenged legal professionals as new sources of data continually arise. Initially, eDiscovery started with emails and computer files, but today, it has reached IoT and collaborative data types with their collection and processing challenges. Additionally, ephemeral forms of data create new preservation challenges for organizations.

Isn’t this interesting?

Increasingly corporate organizations are taking steps to gain greater awareness and control of the data within their disparate data landscape, and are taking steps to store data systematically so that when the need arises, eDiscovery can be addressed with greater efficiency and more predictable costs. According to the Facts & Factors report, the global eDiscovery market size & share will reach USD 24.12 billion by 2026.

Here are some interesting facts about the eDiscovery showing the importance of the topic for the use of technology by the legal profession:

1. It is the survival of the fittest

eDiscovery solutions market is getting tougher with increasing digitalization. To survive in this competitive market, eDiscovery solution providers have to be on top of their game. In the future, it is expected systems that support remote collaboration, communication technologies, and aggressive migration into the cloud will only be in demand.

2. eDiscovery is not for everyone

eDiscovery requires advanced technology and expertise to process, analyze, review and produce evidence within a limited time from large volumes of data. The eDiscovery process is akin to looking for a needle in a haystack and can be overly costly if not properly managed.

3. Data types are increase like no end

As per recent statistics, the number of IoT devices will reach up to 25.1 billion by 2025. Internet of things (IoT) data has been found helpful in solving cases in the recent past. Also, people are relying more on smart devices for their day-to-day activities like booking appointments, taking notes, making calls, home security, etc. The world is already flooded with IoT data and this trend will only increase.

4. TAR is the new normal

When going for eDiscovery, nobody opts for traditional methods anymore; Technology Assisted Review (TAR) is the new normal. According to Rand Corporation, 73% of total eDiscovery cost is spent on Document Review, and TAR is definitely helpful in saving time and money without compromising the quality.

5. Metadata is the dominant datatype

Metadata is crucial for eDiscovery. Various forms of metadata are readily attainable from disparate data formats, and the extracted metadata provides vital information to the attorneys involved in any litigation. Metadata’s importance has been acknowledged by courts and FRCP and is considered to be part of any document. Metadata gives us insight into the history of an individual record, and reveals who authored and made edits to a document, and when those revisions were made, thus proving very useful when examining electronic records.

Wrap up

Above mentioned are the few undeniable facts about eDiscovery. Even though it is a complex process, one cannot deny its impact on the legal profession. It has become a profitable industry since existing in a world where 2.5 quintillion bytes of data are produced every day, eDiscovery is the only way to find relevant information in most modern litigation matters. Knovos has over two decades of experience in the eDiscovery industry, and after all these years we are proud to say that our Knovos Discovery technology is one of the most advanced eDiscovery solutions in the market.

Categories
Arbitration

What are the must-have technologies for arbitration?

Technologies for Arbitration

Once COVID-19 has been declared a worldwide pandemic by World Health Organization (WHO), then the business of law came to a halt as the rest of the world. Many organizations, governments, and industries have to experience the impact of this global pandemic.

Arbitration is one of the most acceptable means of dispute resolution internationally. Enterprises, arbitrators, outside counsels, and in-house counsels sought the alternative means to get the arbitration proceeding back to normal, but the ‘new normal’ is ‘technology-empowered digital Arbitration.’

Drivers for technology innovation in International Arbitration (IA)

Technology innovation in international arbitration is driven by not just the COVID-19 pandemic rather Industry 4.0 revolution and the need for faster proceeding under various compliances and intellectual property rights. The disruptive technologies made significant changes in the way the arbitration world works. Big data search is now easy with technologies; especially Machine Learning (ML), Artificial Intelligence (AI), Virtual Reality (VR), Data Collaboration, and block-chain help a lot.

The must-have technologies for International Arbitration (IA)

International Arbitration (IA) is not the same as it used to be for ages; what we see today is an improved version with multiple changes in the past for the better proceeding. The 360 ° digitalization stepping in with specific technology means arbitration to drive the ADR ecosystem’s future. Here, we are discussing the technologies available and the must-have for futuristic pleadings.

International Arbitration Management Solution
International Arbitration Management Solution

From the above, we can see that the online file and document repositories for secured document sharing, secured document collaboration platform for managing evidence, Machine Learning (ML) & Technology Assisted Review (TAR) for document review, and Artificial Intelligence (AI) based voluminous case document review are available. Along with this, the case management system, virtual hearing tools, Natural Language Processing (NLP), and online volume submissions are already in the initial phase of creating a futuristic ecosystem. Video conferencing and secured data collaboration has been instrumental during this pandemic to streamline the business of law.

Smart Data Collaboration Solution

Ideally, a data collaboration solution enables different teams to store all related information and documents in a central repository in a secure environment. It helps edit, manage, and share documents with other parties in a single solution. Knovos Arbitrate is one of the smartest data collaboration and arbitration management solutions. It simplifies arbitration case management by these features.

  • Users are monitored by granular-permission-driven access control ecosystem
  • Data archival capability for the arbitral tribunal to keep case documents for in-future case review
  • Enables users to share, upload, view, download, print documents, and evidence files
  • Built-in folder structure and scheduler for case-tracking capability (dates and deadlines)
  • Built-in volume manager for bundle preparation tribunal pleadings

Knovos Arbitrate gives complete control over arbitration management for arbitration practitioners and law firms. It simplifies arbitration case management with its innovative technologies and ease of use. Knovos Arbitrate narrows the scope of futuristic technology in the arbitration world. Well, this is one of the technology innovations in arbitration pleadings. We will be discussing other technologies in our next blog of this series. For more, stay tuned.

Categories
Document Collaboration

Information Rights Management (IRM): What enterprises want!

enterprise data security

Enterprises started showing more interest in data-centric security platforms in the recent past. The growing use of email platforms and enterprise collaboration systems required an encryption-based environment that defines permissions for different users and user groups. Access rights (i.e. view, edit, download, print, copy, and forward) could be controlled with next-generation IRM-enabled collaboration solutions.

The existing systems and platforms have security features, but these features are not adequate to address modern-day security concerns.

What are the security limitations of the existing information management system?

The traditional approach of information management system security is mostly perimeter security. In other words, this approach secures peripherals or the environment, not the data itself. Information will be secured only within the perimeter of a controlled environment. However, the same information can be accessed outside the secured environment by multiple means. We can understand it as email and data in a collaborative system is secure until it gets exposed to outside the system. There are certain limitations of these IMS security capabilities that make information vulnerable to data leakage.

  • Perimeter security is limited to firewall
  • Security of sensitive information might be compromised when it goes to third-party
  • Data retention and disposition policies are not applicable outside the environment
  • Despite ‘versions control capability, users unknowingly use locally stored files

Due to these limitations of perimeter security, organizations require a more advanced system that enables protection at the data level and protects it throughout the entire data lifecycle.

How does an IRM-powered enterprise collaboration solution look like?

Enterprises need an IRM-enabled enterprise collaboration system that could have the following features.

  • Secured file sharing
  • User and User groups rights management
  • Comprehensive auditing and reports
  • IRM-enabled encryption ensures information security even after documents had been downloaded on a local device.
  • Enterprise Data analysis and classification
  • Built-in document editor and viewer
  • Document workflow automation and tracking
  • Advanced search
  • PII (Personally Identifiable Information) analysis and management

It will enable enterprises to protect commercially sensitive data, personal information, and business reports & documents secured until they get archived or deleted. The document lifecycle must be protected by shrinking the perimeter security with IRM (Information Rights Management) especially when file exchanging with third parties are the daily routine of team members.

Knovos Rooms for enterprises Information Rights Management (IRM)

Knovos Rooms is an enterprise collaboration solution for document management and knowledge sharing. It is a highly secure solution for commercially sensitive information transactions and file sharing. It has been developed to fill the security capabilities gap for information rights and compliance for enterprises.

Built on the ‘information-centric security’ feature, Knovos Rooms’ IRM enables enterprises to secure information on-premise and off-premise data from unauthorized access. It means that information and its control can now be separately created, viewed, edited, and distributed.

An adequate IRM system is typically used to protect the information in a business-to-business model, such as financial documents, M & A documents, and commercially sensitive personal details, etc. It empowered information owners to centrally audit and report any authorized as well as unauthorized access attempts. The information and documents are more secure than ever while sharing with external parties, partners, advisers, and other users.

Do you want to why do you need an IRM (Information Rights Management) powered collaboration platform?

Check out the blog post here.