According to the media release, Tim Estes, Founder and CEO of Digital Reasoning, said, “In this new world of remote work, a company’s digital communications infrastructure is now the most essential one for it to function and thrive. Smarsh and Digital Reasoning provide the only validated and complete solution for companies to understand what is being said in any digital channel and in any language. This enables them to quickly identify things like fraud, racism, discrimination, sexual harassment, and other misconduct that can create substantial compliance risk.”
While the Compound Annual Growth Rate (CAGR) for worldwide eDiscovery software and services slows, the overall size of the market continues to grow with estimates for the overall market to exceed $15.12B in 2025. This year’s annual eDiscovery Market Size Mashup estimates the combined worldwide eDiscovery software and services market spend in 2020 to be approximately $10.89, growing at a CAGR of approximately 6.79% to $15.12B by 2025.
Given the chilling effect of COVID on the business of eDiscovery, many individuals and organizations are interested in the impact of current pandemeconomic conditions on essential audit, investigation, and litigation drivers for legal discovery. One of those drivers is the need for eDiscovery support in FTC and DOJ Second Request investigations. As Second Requests are driven from HSR Act mandated merger transaction reviews, the following HSR Act filing information and comparisons may be helpful for understanding current trends and potential trajectories driving the need for Second Requests.
As a leader in remote legal document review, HaystackID provides clients with instant access to more than 20,000 certified review attorneys who are available for selection and integration into its remote managed review teams through its ReviewRight Match and Virtual offerings. The potential pool of virtual reviewers, the streamlined manner in which reviewers are onboarded for remote review, and the established base of current reviewers with ReviewRight Virtual (secure remote review) experience, allows HaystackID to help those in the eDiscovery ecosystem maintain review continuity without sacrificing quality or increasing review costs during these COVID-constrained times.
The Cyber Law Toolkit is a dynamic interactive web-based resource for legal professionals who work with matters at the intersection of international law and cyber operations. At its heart, the Toolkit currently consists of 19 hypothetical scenarios. Each scenario contains a description of cyber incidents inspired by real-world examples, accompanied by detailed legal analysis. The aim of the analysis is to examine the applicability of international law to the scenarios and the issues they raise. The Toolkit was formally launched on 28 May 2019 in Tallinn, Estonia. Its first general annual update was published on October 2, 2020.
According to the media release, Reynen Court has secured $4.5 million of further funding to accelerate growth. Founded in 2018 with wide support from a consortium of nineteen leading global law firms, Reynen Court now has nearly two hundred third-party application vendors are actively engaged, with more than a hundred already under contract and currently present or working towards participation in the Reynen Court solution store.
A steady rise in the number of sensitive data discovery requirements driven by events ranging from Data Subject Access Requests (DSARs) to data breaches are adding to the current ‘where’s my data’ problem; a problem increasingly complicated by enormous amounts of unstructured data widely spread across organizational systems. The ability to rapidly locate information across an organization’s digital estate and to easily review, collate, and extract that data into one central repository, is essential when faced with regulatory time constraints. Ascema, a sensitive data discovery and extraction platform from UK-based cybersecurity provider GeoLang, may be able to help eDiscovery professionals as they consider proactive detection and reactive data breach review of data.
An unanticipated pandemeconomic-driven retraction in eDiscovery spending during 2020 has resulted in the need to reset the baseline market size for ongoing ComplexDiscovery Market Size Mashup reports. Originally estimated by ComplexDiscovery to reach $12.66B in market size during 2020, revised estimates for the eDiscovery market reflect an adjustment to a newly estimated market size of $10.89B for 2020. This adjustment is a decrease of approximately 14% from pre-COVID 2020 forecasts. This revision also equates to a negative 3.03% growth rate between 2019 and 2020.
NIST has released NISTIR 8286, Integrating Cybersecurity and Enterprise Risk Management (ERM). This report promotes greater understanding of the relationship between cybersecurity risk management and ERM, and the benefits of integrating those approaches.
According to Thierry Breton, Commissioner for the Internal Market, “Europe needs to join forces to lead on the current and upcoming wave of industrial and public data. This declaration is promising and shows the depth of the change that we witness. There is a common understanding that it is vital that any data can be stored and processed in Europe, according to European rules and standards. That will be a key pillar of our digital sovereignty for this Digital Decade and will propel Europe’s recovery, ensure long-term competitiveness and help us reach climate sustainability.”