Law Practice Management and Technology
The Bottom Line Volume 34, No. 4, October 2013
Content
- 21st Century Legal Research: Authenticating Electronic Data
- Avoiding Surprises: Plan for Contingencies
- Building Your Client Base Online and Off
- Coach's Corner: “Die With Your Boots On” Is Not a Succession Plan
- MCLE Self-Study Article Bridge the Gap: Knowledge Management Simplified
- Message From the Chair, Incoming
- Message From the Chair, Outgoing: Tinker, Labor, Over, Bye!
- Message From the Guest Editor: How To Manage Not to Waste Your Time
- Using Automation and Outsourcing to Deliver Legal Services in the New Normal Market
- Your Law Firm Culture: Define, Prioritize and Collaborate
- Disaster Planning Means Firm Survival
Disaster Planning Means Firm Survival
By Ed Poll, Principal of LawBiz® Management
âDisasterâ for a law firm is not a question of if, but rather when. The only unknowns are the type of disaster, when it will occur and how bad it will be. A catastrophic storm or a disease epidemic each qualifies as a disaster, but so too does a burst water pipe, a computer system meltdown or a data security breach to the unprepared. Any of them can mean a law firmâs demise. The goal of disaster planning is making a recovery that ensures the survival of the firm. If your firm views planning for disaster recovery as a luxury you can ill afford in a time of increasing cost and profitability pressure, think again. The U.S. Department of Labor estimates over 40% of businesses never reopen following a disaster. Of the remaining companies, at least 25% will close within 2 years. Few if any of these companies have a disaster plan.
Defining the Disaster
Not every disruptive event is a disaster. Professional liability, malpractice claims, client relations problems and poor business judgment are all problems for the firm, but they are also part of everyday business. By contrast, any of these events constitutes a disaster â an unexpected event that could drive an unprepared firm out of business.