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Business of Law


Friday, July 23, 2021 @ 8:22 AM

Law society misconduct case examines meanings of ‘specialize’

While Ontario’s lawyers cannot claim to be specialists in something without law society certification, they may continue to say they “specialize” in a particular area, says a lawyer involved in a failed professional misconduct case brought by the province’s regulator. ... [read more]

Wednesday, July 21, 2021 @ 8:43 AM

Digital assets inventory: Fiduciaries, executors need more than passwords Laptop with gold bars on the screen

One of the most common misconceptions I see in estate planning is that people believe that their spouse, partner or child can simply use the deceased’s passwords to log in to access financial accounts. Even if the accounts are joint, attempting access via the deceased’s passwords will likely violate the terms of service with the institution. If clients have joint accounts, each individual user should be using their own login credentials to manage that account. And this applies to fiduciaries. ... [read more]

Tuesday, July 20, 2021 @ 11:47 AM

What economists can teach family law about dealing with self-reps | Joel Miller

The previous article in this series (“What LEGO can teach family law about dealing with self-reps,” see below for link) discussed the concept of “complementary innovation” and suggested we could learn from the approach LEGO has taken — complementary innovation. That’s neither radical or disruptive innovation, which changes the whole service model, nor incremental or sustaining innovation, which keeps the same model but tinkers to make it better for existing users. ... [read more]

Monday, July 19, 2021 @ 8:48 AM

Digital assets inventory: The executor and today’s digitally connected home Laptop with gold bars on screen

Part one in this series introduced the concept of a digital assets inventory. Part two provided a deep dive on a digital assets inventory with examples from the Society of Trust and Estate Practitioners (STEP). This article, part three, looks at further examples in a digital asset inventory. ... [read more]

Tuesday, July 13, 2021 @ 1:26 PM

The privacy officer: Don’t give me a legal memo, tell me what to do Corporate man protecting employees logo

Since privacy has been in the spotlight, businesses have been scrambling to get their house in order to minimize their risk exposure. Although privacy risk is not just a legal issue, c-suites are increasingly expecting in-house counsel to take over the privacy officer role. ... [read more]

Tuesday, July 13, 2021 @ 8:35 AM

Wellness: Five money lessons every young lawyer should know | Darryl Singer

Like it or not, money factors into so many parts of our careers as lawyers. As a mentor to countless students and juniors over the years, I have come up with a number of pieces of financial wisdom which I now routinely pass along to all of them. ... [read more]

Monday, July 12, 2021 @ 1:44 PM

Top legal tech trends to watch for in 2021  Lawyer looking into future with telescope

Digitization continues to change the world at a fast pace. Digital technology has played a significant role in every aspect across businesses and industries, influencing time management, productivity, costs, etc. If we talk about the legal sector, legal professionals are becoming more open to and comfortable with technology. They recognize the benefits of streamlining time-consuming tasks and increasing work efficiency using various legal software programs. ... [read more]

Monday, July 12, 2021 @ 12:05 PM

What LEGO can teach family law about dealing with self-reps | Joel Miller

LEGO figured out that to increase business for its primary product, those little bricks, it should surround them with a universe of other, complementary, products. In The Power of Little Ideas: A Low-Risk, High-Reward Approach to Innovation, David Robertson and Kent Lineback use LEGO as an example of “complementary innovation.” ... [read more]

Friday, July 09, 2021 @ 8:29 AM

The Coach: Cross-serving, not selling | Gary Mitchell

Early on in my career coaching lawyers I discovered that the term “cross-selling” was being misused. First off, lawyers hate the concept of sales and what they perceive it to be. Secondly, and more importantly, it’s really about serving your clients, not selling them. ... [read more]

Thursday, July 08, 2021 @ 12:41 PM

Bankrupt permitted to sue trustee in personal capacity in precedent-setting decision Gold coins on weigh scales

Licensed Insolvency Trustees (LITs) in Ontario are a lot like lawyers. They hold a de facto monopoly on their profession, they are self-governed, and they owe their clients a fiduciary duty. One major difference LITs enjoy over lawyers, however, is statutory protection from liability. ... [read more]