In the most basic sense, going paperless means we use software to create documents, we send them via email instead of printing and mailing, and we store them in digital format instead of in filing cabinets. Replacing paper with technology saves us time and money, making us more efficient and effective. While the advantages of a paperless, digital office are hard to ignore, some legal teams are slow to change simply because they don’t know where to start.
For many startups, the desire to keep margins thin means that you often have few resources to commit to retrieving documents, summarizing information and printing out reports. If the preparation of due diligence falls on the CEO, CFO or sole Legal Counsel, it’s vital that you leverage tools to overcome the challenges that are native to startups: lack of structure and resources. After all, you don’t want any surprises in the evaluation to derail the investment.
It’s the end of the year, which means that organizations are busy publishing the results of annual surveys and forecasting the outlook for the year to come. While any general counsel would appreciate ranking first in a “Top 5” list, here are five things they want to happen next year across the legal landscape.