UTBMS

New Resource on Using UTBMS

Aileen Leventon and Jenny Anne Horst-Martz, long-standing contributors to legal industry initiatives, have written another practical book on how to get the most out of using UTBMS codes. Legal Value Track is for both law firms and their clients, to advance the goal of developing a shared understanding on the value of particular legal services.
Legal Value Track provides buyers of legal services insight on the challenges law firms face in billing and pricing. Timekeeping practices and data bases on the costs and pricing of comparable matters require practical guidance on implementation. Outside counsel guidelines often don’t go far enough to address the actions required by individual lawyers and other timekeepers. This book does.
Legal Value Track is available on amazon.com as a paperback and an e-book. It is a companion to the manual the authors published last year on best practices in using codes in M&A transactions.

Book/eBook Available on Using M&A Codes

A new book on using the Mergers and Acquisitions Codes is now available.  Authored by Aileen Leventon and Jenny Ann Horst-Martz, who led the effort to create the M&A codes, this modestly priced resource illustrates how the codes can be used to help price or evaluate fees and value of a matter, identify where you are in the matter/plan budget, identify out-of scope work that may need to be addressed and enable corrective action as needed to meet deadlines and budgets.  More information on the book can be found here.

Mergers & Acquisitions UTBMS Codes Now Available

The LEDES Oversight Committee is pleased to announce the ratification of a new Mergers and Acquisitions UTBMS code set.

The new code set was originally proposed by a task force on legal project management within the ABA M&A Committee in 2015.

The final code set ratified by the Board of the LEDES Oversight Committee in February, 2016 represents a joint effort between the ABA M&A task force and the LOC M&A UTBMS Standards Development Subcommittee and includes input from law firms, corporate legal departments, legal technology vendors, and consulting firms around the world.

The codes are available here.

New UTBMS Subcommittee Forming – Volunteers Sought

The LEDES Oversight Committee is seeking volunteers for a new Development Subcommittee to create an UTBMS code set for Mergers & Acquisitions work.

The Subcommittee, which will be led by Linda Hovanec of Wolters Kluwer ELM Solutions, will focus on creating the new M&A UTBMS Code Set. The subcommittee will meet periodically to draft the suggested codes, publish the set for public comment, and then attend to ratification of the new standard.  If you are interested in participating in this effort, use the “Contact LOC” feature on this website.

Look for more on this effort in the coming months.

EW-UTBMS Litigation ‘J-Code-Set’ for Use in England and Wales is Now Available

The LEDES Oversight Committee (“LOC”) has endorsed the new UTBMS Litigation Code-set for use in England and Wales – the EW-UTBMS J-Code-set.

Created by the Jackson Steering Committee for use within the judiciaries of England and Wales, the release of these codes marks the first stage in the Steering Committee’s objective to develop a new model-form ‘Bill-of-Costs’ for use by the courts in assessing costs to be awarded in litigation cases.

More information on this standard is available here.

Additionally, the Association of Cost Lawyers has published an article on the endorsement of the J-Codes by the LEDES Oversight Committee.  The article can be found here.