For plaintiff s lawyers, cybersettle may simplify and shorten the process, but it does not necessarily lead to larger settlements than litigation, arbitration or mediation. Unforseen pitfalls, like potential privacy lapses, worry others, like Mr. Oxman. But Mr. Burchetta and Mr. Brofman are confident that they have covered all bases. To assure confidentiality, data entered into the system is encrypted, and offers and demands are never revealed so if the case is not settled, neither party is prejudiced in future litigation. To avoid any charge of bias, cybersettle s fees are not pegged to the settlement amount.
Future enhancements are in the works.
Upon execution of the settlement, funds will be automatically transferred from an insurance company s bank account to the claimant s card. And soon, claimants themselves will be able to initiate the claim in the system, according to Mr. Burchetta. Meanwhile, the legal work resulting from start-ups like cybersettle has created new opportunities for law firms. Yet for firms seeking to exploit this emerging market, the risks can be as great as the potential. Mr. Sutin of Greenberg Traurig noted the special challenges of representing the Internet start-up.