The American Bar Association reported in October 2021. 29% of law firms reported a security breach. One of five respondents was unsure whether a vulnerability had ever occurred. In addition, 36% indicated past malware infections. Weak security tools may have contributed to the problem.
Law firms manage sensitive data like case information, communication records, and various documents shared with courthouses, notaries, and other legal entities. So, it is unsurprising that law firms are susceptible to hack attacks.
The consequences of data breaches for law firms can be costly. For example, firms could be forced to pay fines, suffer financial losses from lost business, tarnish their reputations, incur regulatory penalties and fines, etc.
It is no wonder that law firms are trying to mitigate the risk associated with data breaches. Attorneys are now turning to cloud-based solutions that improve the security and safety of the firm's data while enabling collaboration across teams. One such system is CoraLegal.
What is CoraLegal?
CoraLegal is a cloud-based solution designed for the legal industry for securely sharing files in the cloud and allowing user control over-sharing. It is a robust cloud application with features like data-at-rest encryption; secure file sharing; centralized user management; granular permissions; and IT audit-ready events for real-time monitoring.
The system integrates with third-party applications, including email and document management systems (DMS). The benefits include:
Secure File Sharing
CoraLegal ensures that files are securely shared and accessed only when authorized users login and request access. In addition, the system utilizes data-at-rest encryption, which scrambles data so that only authorized users can decode it.
The encryption component works in conjunction with file locking and version control, where versions are stored and can be accessed depending on the user's needs.
Users can also share files without exposing them to the Internet with the system's file-sharing feature.
Improved Compliance and Monitoring
Law Firms can comply with regulations by monitoring user activity with CoraLegal's automated audit trails. This feature tracks every user who accesses a file or folder in the system and can set action triggers for user activity like downloading files or folders.
The audit trail can monitor users and detect malicious activity. This level of control is difficult to achieve with a traditional on-premise solution.
With CoraLegal, law firms can also gain granular permissions to control who has access to what data in the system.
E-signature and E-signature Templates
Attorneys don't need to use another resource for signing documents electronically. CoraLegal has a comprehensive electronic signature solution that allows attorneys and other users to sign documents digitally.
The solution is designed to comply with the newest e-signature laws and standards. The signature solution also offers e-sign templates that attorneys can use for frequently used agreements and documents such as NDAs, contracts, billing statements, and invoices.
For instance, the standard industry practice to bill clients for services is to send an invoice for work done in the month or at the end of a case.
But, with CoraLegal's e-sign templates, attorneys can pull pre-populated templates from a library of standard documents to bill their clients electronically in one click. This can significantly improve workflow and reduce costs.
This cloud application also improves legal project management with the CoraLegal Organizer and Cora Assistant features.
Create multiple tasks, specify additional instructions, provide pointers to folders and files, set a due date, and assign owners. Once a project is marked complete, Cora will stop! Cora Assistant can follow up with task owners via email and text messages depending on their urgency.