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.
On January 29, 2016 the LEDES Oversight Committee members enacted a change to the organization’s membership structure.
Previously membership in the LOC was limited to organizations. An individual derived their membership in the LOC by virtue of working for a member organization. Each member organization was able to designate one voting member, an alternate voting member, and an unlimited number of general (non-voting) members for the $200 yearly membership fee. On initiatives presented to the membership for consideration, each organizational member was able to cast a single vote. Importantly, when an individual discontinued working for the member organization, the individual lost their membership in the LOC.
In 2016 the membership structure has change to individual membership. Now all LOC members have the right to vote on initiatives presented to the membership for consideration, and an individual’s membership will continue regardless of their employment status.
The only requirement to become a member in the LOC is that an individual “shall be … working, or having retired from work, in some capacity within or associated with the legal industry.”
The dues for individual members in 2016 are $95 USD.
If you are interested in participating in legal data exchange standards development, you can become an LOC member by using the application form here.
The LEDES Oversight Committee is pleased to announce that proposed M&A UTBMS codes, developed by a subcommittee of the ABA and provided to the LOC for review and endorsement, are available for public comment until Friday, 8 January 2016. Click here for more information and a link to provide feedback.
The final version of the ratified UTBMS standard for Governance Risk & Compliance is now available. See here for more information.
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 UTBMS” feature on this website.
Look for more on this effort in the coming months.
LOC members will convene for our annual meeting on Wednesday, February 4, 2015 from 12:00 – 1:45 p.m. Eastern. The meeting will be held during the Legal Tech New York Conference in the 2nd floor Mercury Ballroom at the New York Hilton (1335 Avenue of the Americas). This is an open meeting and non-members are welcome to attend. Our thanks to ILTA for providing on-site meeting space.
Simultaneously, we will convene a meeting of our U.K. members to allow them to participate in the meeting as a group. A venue for this meeting has not been finalized. To volunteer to host the London meeting or to RSVP to attend, please email Philip Knight (email@example.com). On-site attendees for the London meeting should allow extra time to clear building security
The Jackson Steering Committee has issued a press release on the J-Codes for England and Wales.
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.
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.
The LEDES Oversight Committee is pleased to announce endorsement of the Yerra Solutions Knowledge Management Expert Group UTBMS Code Set for the knowledge management discipline.
The KM Code Set represents an exciting new direction for UTBMS. While KM services may be provided by external law firms or more possibly by external consultants, it is more likely that KM services are provided for a law department or law firm by internal resources. By tracking time spent on KM activities, the codes will facilitate benchmarking of KM activities against other organizations.
If you are interested in the Knowledge Management discipline and would like to join the global expert group, on LinkedIn look for Yerra Solutions Knowledge Management Code Set Discussion Group.
The LOC congratulates the participants of the Yerra Solutions Global Knowledge Management Expert Group for their fine work and future vision.