Legal Business Glossary

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Data Analytics

The process of transforming and cleaning data to discover insights about your organization/department in order to make key decisions and increase efficacy. While in legal departments, data analytics can cover a range of metrics, many legal departments are leveraging analytical data to improve their spending management to avoid becoming a cost center.


The particular day on or before which something must be done to comply with law or contractual obligation.


Entry made on the asset side of a ledger or account; a sum charged as due or owing.


A person or entity that owes an amount of money or favor to another. In bankruptcy, the party whose affairs are the subject of the proceedings is called the "debtor."

Declaration of Trust

A document used to establish the primary details of a trust.

Document Management

The storage and handling of documents (such as contracts, licenses, letters, emails, notices, reports, etc.) that relate to legal matters.