Legal transactions consists of information, processes and documents.  As well as the transactional information that needs to be captured, there may be many parties involved: Clients; plaintiff; defendants; witnesses; experts; financiers; brokers; insurers; beneficial owners.  The legal process can involve numerous steps that need to be completed at specific periods.  To map a transaction we need to:

Define the parties

• Identify each party in the process
• Decide what information is needed on each party
• Create categorization lists for each party

Define the checking procedures

• Checking for conflicts
• Checking against external lists and systems

Define the relationships

• How do the parties relate to the transaction
• Identify which parties may have multiple individuals
• Which parties are optional

Define the process

• The steps that need to be completed
• The order they need to be completed
• Who signs off on each stage

Define the documented outputs

• Which documents need to be created
• What information need to be included in each document
• Which clauses need to be included for each decision
• How are the documents to be approved and sent
• When are the document to be sent

Define the security and audit rules

• Who can access information the transaction
• Who can access information on each party
• Which items of data can be viewed by which party
• When are specific data considered locked
• How are edits to be authorized and checked

Define the records management procedures

• How will the transactional records be managed and retrieved
• How will the party information be managed and retrieved
• How long will data be retained
• How will archive data be sanitized

Reports

• What information is needed by fee earners
• What information is needed by Clients
• What information is needed by third parties

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