Conflicts & Ethical Walls

 

Conflicts Systems

One of the most important steps in taking on new business is conducting a thorough conflict of interest check. In today’s regulatory environment, it’s critical for law firms to conduct searches against both internal and external sources to identify the risk associated with taking on the new business. Failure to do so can negatively affect the firm in numerous ways. The potential impact on revenues, expenses, time, the firm’s reputation and, perhaps most importantly, malpractice settlements, is considerable.

A comprehensive, interactive conflict resolutions system can help lawyers get the information they need to resolve potential exposure and begin billable work, while protecting the firm from taking on problematic business. Conflicts systems are also important for expediting merger and acquisition reviews as well as for vetting lateral hires.  

Ethical Walls Systems

Once conflicts and waivers are established, ethical walls need to be implemented to restrict sensitive documents and records to walled off parties.  Traditionally, law firms set up ethical walls by distributing emails and relying on the professional diligence of attorneys and staff. 

Unfortunately, these traditional approaches are incomplete and often fail. 

Today, law firms are adopting ethical wall technology that automatically creates wall security in your document management, records, time entry and other key systems.  In addition to creating the walls, systems are able to monitor for security breaches, and to notify attorneys and professional staff when they are subject to a wall.

For information about these and other services, contact Todd at 415-668-8411 or by email.