SAN ANTONIO & NEW YORK -- (BUSINESS WIRE) -- Launching at LegalTech New York today, Picture It Settled® software is a highly-intelligent predictive analytics tool that guides inside and outside counsel through the negotiation process, based on deep data harvested from thousands of cases. The online-accessible technology was created by a team of attorneys and statisticians led by Don Philbin, a nationally recognized attorney-mediator based in San Antonio. This full launch follows the success of Picture It Settled® Lite, the popular mobile app released in 2011.
Using neural networks, probability theory and behavioral patterns, Picture It Settled® can predict what an opponent will do, ultimately saving parties’ time and money by streamlining negotiations. The software’s unique Settlement Prophet™ application estimates when parties are likely to settle and for what amount with high accuracy. Picture It Settled® doesn’t replace honed intuition or legal expertise. Instead it guides decision-makers by quickly modeling anticipated reactions.
Users benefit from three key features: (1) scenario planning, (2) negotiation move planning, and (3) offer projections. Case results entered into the Picture It Settled® dataset range from fender benders to intellectual property disputes in various jurisdictions, with settlements from $250 into the hundreds of millions of dollars.
Built with security features, Picture It Settled® is layered with Gazzang for security levels equal to those used to protect health and financial records.
Top litigator Louis Solomon of Cadwalader notes, “I am impressed with Picture It Settled, a clever tool that is far ahead of its time. In fact I haven’t seen its equal, anywhere. The software benefits both lawyers and clients by providing more control and knowledge throughout the negotiation process. Clients rightly distrust advice from lawyers when they negotiate solely based on instinct or gut reaction. Picture It Settled addresses these concerns by providing counsel and client alike with real knowledge based on actual results from successful settlements. Leave it to Don Philbin to lead the way in utilizing technology to assist the negotiator and practitioner with Picture It Settled – a thoughtful, smart, and handy application.”
Picture It Settled® president and creator Don Philbin, explains, “Negotiation between legal parties has long been dominated by uncertainty, guessing games and anxiety. However, negotiators have distinct, repetitive patterns of behavior so their strategic moves are not as unpredictable as people think. Picture It Settled has gained innate intelligence because it has learned from case outcomes in thousands of cases during its development. Using this technology, lawyers and clients can gain confidence, clarity and a competitive advantage during negotiation.”
Availability and Pricing
Picture It Settled® is now generally available and accessible online via subscription as a software-as-a-service (SaaS). Until March 31, 2013, anyone can use the software at no charge. As of April 1, 2013, standard subscription pricing will go into effect.
About Picture It Settled®
Picture It Settled® software uses neural networks to predict what an opponent will do, saving time and money. It guides decision-makers by quickly modeling anticipated reactions based on deep data from thousands of cases. Users benefit from three key features: scenario planning, negotiation move planning, and offer projections. Picture It Settled® uses patent-pending technology and contains security levels equal to those used to protect health and financial records.
Based in San Antonio, the company was founded in 2011 by Don Philbin, a nationally recognized attorney-mediator. Holding both a law degree and an MBA, Philbin mediates individual and class matters, and he teaches courses at Pepperdine Law’s Straus Institute for Dispute Resolution. He was one of three Texas mediators listed in the 2011 inaugural edition of The International Who’s Who of Commercial Mediation, and he was named the 2011 Outstanding Lawyer in Mediation by the San Antonio Business Journal. He is an elected fellow of the International Academy of Mediators and the American Academy of Civil Trial Mediators.