The LOC’s Tax Accommodation Subcommittee has proposed ebilling format changes on two projects:
The first project concerns extending the number of cursor columns to the right of the decimal separator for the tax rate. Changes have been proposed to LEDES 98BI, XML 2.0 and XML 2.1.
The second project is a complex solution to support Tiered Tax, which is seen in a Japanese Withholding Tax. The solution proposes a new format, XML 2.2, which builds on XML 2.1 by adding 2 additional segments and 13 data points.
Click here for more information. A survey to collect feedback on these proposed format changes has been posted for public comment and will close on 8 September, 2019.
Our UK Regional Group will meet on Tuesday, 10 September, 2019 at the offices of a London law firm and will be broadcast via webinar for all interested parties that cannot attend in person. For more information or to RSVP to attend the meeting, please contact us here.
The 2019 LEDES Oversight Committee Board of Directors has been seated. Our leadership includes:
President – Jane A. Bennitt, Global Legal Ebilling, LLC
Vice President – Cathrine J. Collins, Legal Systems Automation, LLC
Treasurer/Membership – Jim Hannigan, Allen Matkins Leck Gamble Mallory & Natsis
Secretary – Nadia Strobbia, Thomson Reuters
Standards – Nicholas Puschak, Mitratech
Regional Groups – Andrew Dey, Andrew Dey Limited
Marketing – Rich Young, LegalKaizen
We have updated our web site to include a menu item called LEDES Education, which provides links to videos posted on our YouTube channel. If there is a legal data exchange topic you would like to learn more about, you can suggest additional videos here.
The LEDES Oversight Committee is pleased to announce that we have added instructional videos to our YouTube Channel on how to create and edit LEDES 98B and 98BI files. Featuring our Standards Director, Nicholas Puschak, these videos provide instruction for people new to legal ebilling on how to get started. These videos join our earlier presentation introducing the IPMM Invention Disclosure Schema created by Robin Hunziker, who leads that subcommittee. You can find our videos on YouTube by searching for LEDES Oversight Committee, or on the pages for each of these data exchange formats on this web site.
The Board of Directors is pleased to announce that forum functionality, intended to facilitate ebilling problem solving and information sharing, has been added for member use only. With membership in the LEDES Oversight Committee costing only $95 USD/year, this new benefit makes membership a bargain!
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.
The LEDES Board of Directors has authorized the creation of an API Development Subcommittee, with Nicholas Puschak and Daniel Bodner serving as co-chairs. The subcommittee will develop and publish a software API that will enable direct application-to-application exchange of legal invoices and other information. The goal of this subcommittee is to define an industry standard REST Software API specification that will allow law firm time and billing applications to communicate directly to the corporate legal department matter management and e-billing applications, allowing law firm users to simply work within their time and billing applications to view the status of an invoice and to submit invoices, accruals and other legal data, eliminating the need to manually create and upload LEDES files to various systems. Participation in this effort is limited to LOC members. For more information, email us using the Contact LOC feature here.
The LEDES Oversight Committee Board of Directors has authorized the creation of a subcommittee to consider updates to the IP Invention Disclosure Schema. Robin Hunziker, who spearheaded creation of the original standard, is leading this effort.
A draft version of the proposed revisions can be found here, as well as a link to a survey to collect public comment on the changes.
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.