Posted at 11:57 a.m., Wednesday, May 30, 2007
Hawai'i firm fills void with document-managing system
News Release
HONOLULU, HI, May 30, 2007 — Discovery Box, a subsidiary of Hawaii-based Island Insurance, is filling a national void with its latest document management system. Discovery Box began developing its software for the legal community in 2006.Survey results announced by Discovery Box and Strategic Discovery, Inc. reveal that 83 percent of technology decision makers are not prepared for litigation under the amended Federal Rules of Civil Procedure — because their companies do not have a comprehensive document preservation system. The survey was conducted with 336 senior technology executives at EMC World, EMC Corporation's technology users' conference held in Orlando, Fla., from May 21 through May 24, 2007.
When asked if their company has a system in place to prevent employees from deleting data that is required for litigation or investigations, only 17 percent said their companies have a comprehensive system in place. In addition, 67 percent of respondents said they were either not aware of or unfamiliar with the process their company uses to gather electronic data for lawsuits.
Of the technology decision makers surveyed:
Some respondents were aware of the exposure they face, with one IT manager admitting, "We might be able to scrape together all the e-mails — but other documents? That'd be nearly impossible." However, many respondents had an "It can't happen to me" attitude, with one administrator at a large, well-known corporation commenting, "No one would ever want to sue us!"
The survey was sponsored jointly by DiscoveryBox, creator of the only enterprise electronic discovery management software product with an integrated legal hold solution, and Strategic Discovery Inc., a company that helps law firms and corporations craft and implement strategic responses to the challenges of electronic discovery and records retention.
The pool included IT decision makers from a range of industries. Their specific functions ranged from Operations Director to Enterprise Architect and Vice President. Fifty-eight percent of the companies represented in the survey have more than 5,000 employees, and 8 percent have fewer than 500 employees.
Under the amended Federal Rules, companies have a duty to preserve electronic documents, make disclosures regarding its electronic systems, and to produce those documents in a timely fashion during the legal discovery process. These new rules present companies with the most compelling compliance mandate since the Sarbanes-Oxley Act. Companies that fail to meet those standards risk costly court sanctions and adverse judgments.
About DiscoveryBox
DiscoveryBox is the only enterprise electronic discovery management software product with an integrated legal hold solution. Built upon the Documentum platform, DiscoveryBox enables corporate counsel to manage all the steps of the e-discovery process — from before a legal hold is issued until after a case is resolved, reducing costs and ensuring compliance with federal rules. DiscoveryBox is the flagship product of technology incubator Hoike (Ho-ee-kay), which also provides software and IT services for clients in the legal, insurance, medical, real estate, construction and development sectors, as well as large non-profit, government and educational institutions. For more information please visit: http://www.discoverybox.net.
About Strategic Discovery, Inc.
Strategic Discovery Inc. helps law firms and corporations craft and implement strategic responses to the challenges of electronic discovery and records retention. The company streamlines the handling of large document collections in complex litigation, government investigations, and antitrust second requests. Strategic Discovery designs programs for coordinating corporate discovery response across numerous matters and pro-active electronic records management. The company's focus is improving consistency and reducing the total cost of discovery. More information on Strategic Discovery can be found at: http://www.strategicdiscovery.com.
