1. Legal Indicators in Transnational Law Practice
- Author
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Restrepo-Amariles, David, McLachlan, Julian, Ecole des Hautes Etudes Commerciales (HEC Paris), and HEC Paris Research Paper Series
- Subjects
indexes ,JEL: K - Law and Economics/K.K2 - Regulation and Business Law/K.K2.K22 - Business and Securities Law ,legal indicators ,evidence-based law ,analytics ,JEL: K - Law and Economics/K.K3 - Other Substantive Areas of Law/K.K3.K30 - General ,[SHS.GESTION]Humanities and Social Sciences/Business administration ,JEL: K - Law and Economics/K.K4 - Legal Procedure, the Legal System, and Illegal Behavior/K.K4.K41 - Litigation Process ,JEL: M - Business Administration and Business Economics • Marketing • Accounting • Personnel Economics/M.M4 - Accounting and Auditing/M.M4.M48 - Government Policy and Regulation ,JEL: M - Business Administration and Business Economics • Marketing • Accounting • Personnel Economics/M.M4 - Accounting and Auditing/M.M4.M42 - Auditing ,JEL: K - Law and Economics/K.K3 - Other Substantive Areas of Law/K.K3.K35 - Personal Bankruptcy Law ,JEL: K - Law and Economics/K.K1 - Basic Areas of Law/K.K1.K12 - Contract Law - Abstract
With metrics and analytics spreading into every profession and discipline, evidence-based decision-making is on the rise. Legal practice is also concerned by this trend, as reflected in the growing use of quantitative data by law firms with respect to their corporate clients. Based on the examination of the potential uses of legal indicators in an evidence-based approach to transnational law practice, this article argues that indicators can provide lawyers operating in a transnational context with a relevant source of evidence to move towards a quantitatively informed practice of law. While most academic literature on legal indicators focuses on their governance effects, writings on evidence-based law have not yet investigated the contribution that indicators can make to law practice. This article aims to bridge this gap. It provides a methodological assessment of eight major business law indicators and illustrates four potential applications: (1) ranking and benchmarking, (2) screening, (3) measuring legal risk, and (4) supporting litigation. The article concludes that transnational lawyers should employ transnational legal indicators on a daily basis as an opportunity to reengineer legal practice along the lines of the management culture in which transnational firms now live in.
- Published
- 2018