MICROSOFT EXCEL FOR LAWYERS: POTENTIAL PITFALLS AND THE PROMISES OF PROFICIENCY

On Thursday, July 13, the Legal Tech Institute at Harris County Law Library will offer a free CLE program called Excel Essentials for the Practice of Law. In anticipation of that event, we are reposting an older Tech Tuesday blog post that discusses the importance of Excel proficiency for lawyers. For details about Thursday's program and to register for the course, please visit the LTI Course Catalog. 

Excel is a data management tool used for organizing, calculating, graphing, and sharing tabular information. The importance of developing proficiency in the use of Excel cannot be overstated. Knowing how to manipulate spreadsheets is just as important as properly formatting a written document, and without a firm understanding of how Excel works, embarrassing and potentially costly errors can result. Consider the following: 

When Barclays sent over its offer to buy up Lehman Brothers in the immediate wake of the firm's September 2008 collapse, it did so with an Excel spreadsheet. The makers of the spreadsheet, which detailed Lehman's assets and what Barclays was willing to buy, hid, rather than deleted, nearly 200 cells. But when a junior law associate at Cleary Gottlieb Steen & Hamilton converted the Excel file to a PDF and e-mailed it over to the bankruptcy court, the hidden parts of the spreadsheet reappeared. The result: Along with the parts of Lehman Barclays wanted, the British bank was also forced to swallow losses on an additional 179 toxic deals it never intended to buy.

 -- From Stephen Gandel, writing in Fortune magazine, April 17, 2013

This cautionary tale is just one example of how Excel has been used improperly, with very negative consequences. This is obviously a mistake of greater magnitude than most attorneys encounter on an average day, but nonetheless, it does illustrate the perils of using software improperly.

If you're interested in learning how to use Excel in the practice of law, visit the LTI Course Catalog to register for our upcoming CLE. In the meantime, visit the website of Excel Esquire, where you will learn many practical tips for generating Bates numbers, using pivot tables, sorting metadata, and much more.

Free CLE in July from the Legal Tech Institute: Excel Essentials

Join us on Thursday, July 13, 12pm - 1pm, for Excel Essentials. Microsoft Excel is an important tool for the modern legal profession. It can assist in supervising document reviews, calculating damages, and managing client information. Because so many business clients use Excel, spreadsheets often become evidence in their own right, and attorneys need to be able to review and understand Excel documents. In this interactive program, Ben J. Kusmin, a commercial litigator and the founder of Excel Esquire, will demonstrate the most important features of Microsoft Excel using concrete examples and realistic data. Attendees will have the option to download the data used in the presentation to follow along on their own computers. Register today!

For more discussion of using Excel in the practice of law, see our previous Tech Tuesday blog post MICROSOFT EXCEL FOR LAWYERS: POTENTIAL PITFALLS AND THE PROMISES OF PROFICIENCY

Legal Conferences & Events: TBD Law

For the third consecutive year, Lawyerist and Filament will team up to host a sort of summer camp for lawyers. Known as TBD Law, this unconventional conference/retreat/summit/workshop is an event designed for innovative solo and small firm legal practitioners who are serious about shaping the future of law. Generating fresh ideas and new approaches to improving the practice of law is the goal, and only those who demonstrate a commitment to engaging with big ideas will be invited to attend. Restricting the number of participants will allow for diversity of thought and ensure that all voices have a chance to be heard. To request an invitation, submit your application by July 14th. Fifty-five innovative, forward-thinking lawyers with a vision for improving the future of law office management, client relations, and law-firm business models will be selected to take part in this one-of-a-kind experience. Don't miss it!

WannaCry and the Risks of Not Protecting Client Data

Friday's massive cyber attack exposed the fragility of our IT infrastructure and reminded us to aggressively fortify our digital vaults. The WannaCry ransomware that has taken down computers across the globe is causing perhaps the most prolific cyber attack to date, and it is expected to get worse.  

Protecting your personal data is important, but securing the privileged information entrusted by clients is absolutely essential. From solo and small firm practitioners to large legal and business institutions, the need for data protection is a real concern. According to BakerHostetler's second annual Data Security Incident Response Report, phishing/hacking/malware accounted for 43% of all 2016 cybersecurity events at the more than 450 institutions they examined. Ransomware was the biggest development of last year accounting for 23% of all network intrusion incidents at the companies represented in the study, and the attacks show no sign of abating. Last week's WannaCry incursion is just one example of this growing threat.

Fortunately, the BakerHostetler report provides a broad range of lessons for identifying threats and mitigating risks. It advises firms to establish best practices for "compromise readiness." 

• Focus on the basics.
• Develop education and awareness programs.
• Implement data inventory and risk assessment procedures.
• Share threat warnings with those in your firm.

Suggested further reading:

• Law Firm Cybersecurity  (2017) -- ABA Book Publishing / Solo, Small Firm and General Practice Division
• Will Ransomware Attack Make Law Firms ‘WannaCry’? (May 15, 2017) -- The American Lawyer
• Law Firms Must Manage Cybersecurity Risks (May 2, 2017) -- ABA Journal
• Preparing for Ransomware Attacks: Your Company is a Target (April 3, 2017) -- Nine steps to getting prepared
• The Ransomware Epidemic in Law Firms (February 10, 2017) -- Legal Technology Today podcast
• Protecting Yourself from Ransomware and Cyber-attacks (Sep/Oct 2016) -- ABA GPSOLO

Blockchain Revolution and the Evolution of Law

What is blockchain technology?

The blockchain is a decentralized network that facilitates the exchange of value and enables users to confidently manage and share data. Blockchain technology, which allows peers to transact business and exchange digital assets without the involvement of an intermediary started in 2009 with the development of a digital currency known as Bitcoin. The conceptional framework that makes Bitcoin possible is a digital payment network built on the blockchain.  

A lot has been written lately on the impact that blockchain will have on the practice of law. Resources for learning more about blockchain technology are provided below so you can identify which aspects of blockchain are most important and relevant to lawyers. Learn about where the blockchain is going and how the legal profession can prepare for it. (Tip of the hat to Joe Hodnicki of Law Librarian Blog for linking to some of the items listed here.)

Books

• Blockchain Revolution:How the Technology Behind Bitcoin is Changing Money, Business, and the World by Don & Alex Tapscott
• Blockchain by Melanie Swan (O'Reilly)
• Blockchain Basics: A Non-Technical Introduction in 25 Steps by Daniel Drescher
• The Blockchain: A Guide for Legal and Business Professionals (Thomson Reuters)

Articles

• Understanding the Blockchain (O'Reilly)
• The Blockchain: A Gentle Introduction by Jan Hendrik Witte
• Everything You Wanted to Know About Blockchain But Were Afraid to Ask by Mike McDonald
• What is Blockchain Technology? A Step-by-Step Guide for Beginners (BlockGeeks)

Videos

• Understand the Blockchain in Two Minutes (YouTube)
• How the Blockchain is Changing Money and Business (TED.com)
• How the Blockchain Will Radically Transform the Economy (TED.com)

MOOCs

• The Basics of Blockchain: A Beginner's Guide to Blockchain (Udemy)
• Learn Blockchain Technology: A Beginner's Guide to Blockchain (Udemy)