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Two Step Software teams up with Shook, Hardy & Bacon to offer guidance on disaster recovery planning for corporate governance records

Two Step Software has teamed up with Shook, Hardy & Bacon to offer guidance
on disaster recovery planning for corporate governance records.

Needham, Mass. | May 5, 2006 — Two Step Software, Inc. has teamed up with a leading expert from Shook, Hardy & Bacon L.L.P to present the essential ingredients of developing a client focused disaster recovery and business continuity strategy. The webinar, entitled “Safeguarding Your Clients’ Minute Books: Is There a Gap in Your Plan?”, is a 60-minute live, online presentation that discusses current best practices and offers practical tips for putting together a disaster recovery plan that will impress clients and ensure that a law firm has protected its clients’ corporate governance records.

“Even in the wake of the natural and manmade disasters of the last few years, there are still many law firms that cling to the belief that ‘it won’t happen to us,’” says Gary Levine, President and Founder of Two Step Software, Inc. “But it does happen. And for a law firm to be competitive, appropriate plans and technology must be in place to safeguard their clients’ corporate governance records.”

Atlas Lee, Director of Business Continuity for Shook, Hardy & Bacon L.L.P, comments: “Serious considerations of having a dynamic, current, workable recovery plan in place have often been put on hold because of the perceived high cost. The reality of the ‘cost’ of not being prepared for a disaster has been exposed all too frequently in recent months and years.”

According to Mr. Levine, corporate records — like historical minute books, complex ownership ledgers, and copies of other corporate governance related records — are typically left out of disaster recovery plans. If these records were lost or destroyed in a catastrophic event, the client company might not be able to continue with its legal transactions without interruption. He advises: “Every legal professional must consider a company’s corporate records and the fiduciary nature of holding those records, client expectations, the time sensitivity of closings, and the audit trail required for legal opinions.”

The webinar was developed after many companies and law firms that had been impacted by natural disasters and other business interruptions shared their stories with Levine as he sought out comments for a recent article. Paul Blumenstein, Of Counsel at DLA Piper Rudnick Gray Cary US LLP, told Levine “Most files can be recreated or reassembled if they are lost. However, in most cases, with startup clients, we are the primary keeper of the company's stock and option data and minute books. If a company cannot pinpoint with 100% accuracy how many shares are outstanding, who owns them, who has rights to purchase additional shares and under what terms and conditions, that creates a big complication affecting any kind of financing transaction or business combination.”

Mr. Levine wanted to bring together his experience working with hundreds of law firms on practice management issues with Mr. Lee’s 20 years of experience as a leading business continuity expert to offer practical guidance to legal and technology professionals. The webinar is offered to the public free of charge and is scheduled on two separate dates: Wednesday, June 7, 2006 at 1:00 pm EST and Monday, July 31, 2006 at 12:00 noon EST.

The International Legal Technology Association (ILTA) is co-sponsoring the July event as part of their ongoing series of software vendor presentations following their recent quarterly publication of Peer to Peer magazine that focused on business continuity and disaster recovery planning.