Return to Virginia Business - April 2002

by Rodney Satterwhite
McGuireWoods

Corporations today are harnessing technology to become more efficient and cost-effective in every aspect of doing business. It's no wonder that even companies' in-house lawyers are embracing new technology to cut legal costs. One innovative way is through extranets - a service that McGuireWoods LLP is a leader in providing.
What is an extranet? It is a secure, private web site where updated materials can be stored and accessed by clients 24 hours a day, seven days a week, from any location around the world with Internet access. McGuireWoods, through its extranet development service called McGuireWoods Connect, creates these secure sites for the firm's clients to manage information generated in legal matters ranging from litigation, financial transactions, employment, tax, financial services, real estate and environmental issues. McGuireWoods extranets are revolutionizing the way lawyers communicate with their clients.

The firm's lawyers, clients and authorized third parties can add documents, spreadsheets, photographs, transcripts, and even video files to the extranet. Then, authorized parties, using any computer with Internet access, can retrieve, edit and collaborate on these materials. For example, a general counsel can check the status of pending litigation from home, or conduct real-time communication with an expert witness who may be travelling in the Pacific Rim. This type of accessibility means all of the users can engage in online discussions and collaborate without the necessity of physical travel.

To track and manage changes, users receive e-mail notifications whenever important documentation has been added or is altered.
The traditional methods law firms use to maintain and store information for clients' ongoing lawsuits, pending transactions and similar corporate legal matters create natural time lapses. For example, clients may call or e-mail their attorneys to request copies of documentation, but then have to wait for a response or a courier to deliver. Meanwhile transmitting documents by email can be cumbersome and unproductive because those materials are not archived effectively, and may be difficult to find later. By storing important legal information on an extranet, clients have immediate access to information, which easily can be shared with others inside the company, such as human resource managers, or authorized third parties including expert witnesses and consultants.

The benefits of McGuireWoods' extranets for clients materialize immediately. Along with creating time efficiencies and effective archiving, the instant accessing of an extranet saves dollars. In transactional work, transmitting legal documents by courier and fax machines to multiple parties can cost thousands of dollars - costs virtually eliminated when utilizing an extranet. In litigation, clients are able to participate instantaneously in key decisions based on timely information. In real estate work, site plans, environmental reports and even construction photos can be stored on the extranet site and be instantly accessible by any team member. The overall result is better access to relevant information; reduced costs and legal fees; and enhanced partnering between the firm and its clients.

The extranet is another way McGuireWoods is harnessing technologies to provide better service to clients. McGuire-Woods Connect offers round-the-clock, global access to legal information and advice, while simultaneously reducing legal costs.

Rodney Satterwhite is chief counsel/knowledge management for McGuireWoods, a Richmond-based law firm with approximately 600 lawyers in 15 offices throughout the United States, Europe and Central Asia. For more information, visit the firm web site at www.mcguirewoods.com. For more information about McGuireWoods Connect, visit www.mcguirewoods.com/services/mw_connect.

Return to Virginia Business - April 2002