Technology – The Tie That Binds
July 16, 2009
The business world and the technology that provides the tools of the corporate lawyer are evolving at an ever-increasing rate. Twenty years ago, there were photocopiers, but word-processing mostly consisted of memory typewriters. For many, “cut-and-paste” involved scissors and glue. At that time, most delivery of printed material was done via the postal service.
Since then, word processing has matured, faxing became first a novel new way to communicate, then ubiquitous and now a fading tool, overnight courier services sprang up and became the norm, the Internet expanded from academia to everywhere, email was invented. The practice of corporate law has changed along with these developments. Cycle times between receiving questions or comments and getting out the answers or revisions have shortened dramatically.
Clients now expect seamless interconnectivity of documents and databases, instantaneous transmission of data, documents and other information via the Internet, constant communication among team members by cell phone and email and global interconnectivity. Huge databases of information about the business world are available from everyone’s desktop. And law firms have been at the forefront of these developments. For the corporate practitioner, this has meant keeping up with the mechanics of practice, along with legal and business developments. It also means always being available and accessible to the client.
The use of information has become a dominant part of business and our society generally. The advent of the computer age, and then the Internet age, allows for the collection, sorting and transfer of information at a rate previously unknown. If information has value, then the open market system will tend to seek ways to exploit that value within lawful boundaries. Even if a company’s business is not directly engaged in extracting value from information, the laws and regulations being implemented in these areas will affect every company’s use of information. More and more companies have become involved in international transactions that involve the exchange of information. When this happens, the issues are more complex because foreign countries take approaches that are different from the United States. It is critical that the corporate lawyer and the team recognize that, if dealing with an issue as fundamental as how the client processes data, they must not only addresses these legal concerns but also address the practical issues that involve information management systems and business processes.
Further, the Internet multiplies issues relating to data use, privacy and security concerns. The ability to replicate and send data in a matter of minutes makes it much more difficult to assess the potential business risks. How much information should a company solicit online? Who has access to it? Are the security measures adequate? Will legal disclaimers be an effective shield to liability? The corporate lawyer and the team assembled to help the client must have the experience and expertise to be able to investigate effectively and educate the client as to these and similar questions as the Internet age matures.