IT and Risk

Hosted by Dan Runde, William A. Schreyer Chair and Director, Project on Prosperity and Development, Building the Future explores topics at the intersection of global development, foreign policy, and national security. In each episode, Dan sits down for a discussion with a leading expert from government, the private sector, and international organizations to discuss the challenges and opportunities facing the world today.

Building the Future: Freedom, Prosperity, and Foreign Policy with Dan Runde

Guest : Caroline Boudreau Sweeney
Title : Director, Practice Group Technology Services, Dorsey & Whitney LLP

Cost containment implies both reducing costs and making them more predictable. As the volume of data rises, legal departments face increasing pressure to reduce their budgets, while law firms are under pressure to deliver greater value by offering more services at lower fees and providing greater visibility of the costs incurred throughout the entire discovery process. The need to balance costs against risks is so crucial, that corporations are willing to live with a certain degree of quantified and managed risk in order to reduce their cost of e-discovery. So, how can costs be significantly reduced and yet balanced against risk?

Balancing EDiscovery Cost Containment Vs. Risk

Building the Future

Infrastructure, USTDA, and the Evolving Aid Architecture with Lee Zak

Innovation, Technology, and 21st Century Development with Ann Mei Chang

Soft Power, Privacy, and National Security in the Age of Terror with General Michael Hayden

Higher Education, Agriculture and Institution Building with Peter McPherson

The UN, Afghanistan, and U.S. Global Leadership with Robert O'Brien

This week, Pavlo Phitidis, our resident Small Business expert and the Director of Aurik Business Incubator, discusses legal risks and how to deal with them as a small business owner.
A recent British study revealed that in 2012, 38% of small businesses in the UK experienced significant legal problems. With so much new legislation in South Africa, you too could find yourself on the wrong end of a lawsuit.
<center>"One of the worst things that you can get involved with, as an entrepreneur or small business owner, is legal action"</center>
Pavlo warns that legal action will kill two of the most important resources a small business has: time and money.
Thinking of suing someone? Pavlo says that this process, "typically takes three years...Imagine the number of court sittings, postponements, what it is going to cost you and your business".
<center>"Always try and settle before you sue"</center>
Pavlo continues, discussing categories within your business that leaves you legally vulnerable:>
Intellectual Property: "Present as high up on the feeding chain as possible. Go in there with a nondisclosure agreement, if possible. Go in there with two or three colleagues to act as witnesses. Try and present to a team of people as opposed to one individual. Never actually go forward into a deal where there is only one chance of a customer or supplier. Spread your risk and guard your risk up front."
Customers: "Unless it's COD, a contract has to be in place"
Operations: "Employ someone to run a system of activities that you have built into your business"
<center>"The best time to use a lawyer is before the relationship begins"</center>
In conclusion, Pavlo says, "you can bring that vulnerability right down if you apply four principles: settle before you sure, sign a contract before you deliver a service, written is stronger than verbal, and look before you leap".

Innovation, Technology, and 21st Century Development with Ann Mei Chang

CSIS