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There is a tension between aspiration and reality with regards to knowledge in business. People want easy access to a small well of concise information, but what they have is a “dirty ocean of information that’s leaking and failing.”
This is a particular problem for in-house legal teams who, by default, often become the ad-hoc information banks for their companies.
The LIKE Forum, chaired by Sophie Gould, Head of LexisPSL In-house, and led by Ian Leedham, Head of Commercial (Consultant) at Thames Water Limited, met on March 28th 2017 to discuss how to identify, store and share the knowledge that in-house legal teams
have at their disposal. At the core of the discussion was how such knowledge, once identified, could be used to add value.
The forum focussed on several key areas, including:
Types of information
Formal and informal types of information take many forms. But while the specifics vary from team to team, some are common to all:
Before selecting the best information to retain, you need to determine:
Deciding what information to collate and use will prevent you from having an “ocean of data”. Instead, you will have access to a well of useful, valuable information.
Identifying and delivering value
When assessing and identifying value, it is important to consider “what”, “how
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Since joining LexisNexis in 2009 Sophie has worked on developing our legal and business content for the in-house legal community. She also runs various networking and mentoring groups for in-house lawyers and works with schools to promote social mobility within the legal profession.
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