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Azimov would not have been surprised to see the practice of law changing radically around the world. According to recent news reports, the once-highly esteemed lawyer profession is now being threatened by robots and supermarkets.

The fields of automation and robotics have made great inroads into a lot of professional disciplines. From car manufacturing to space exploration and from pharmacology to accounting, software programs and robotic solutions are being increasingly employed not only to augment operations but also to completely replace human professionals.

Until now, the legal profession has seemed to have largely escaped the threat of robots due to the decidedly human scope of the discipline. The legal industry still operates on the premise that hiring excellent lawyers with many years of experience is vital to win a case. The reason clients retain prestigious law firms with the right connections is because it increases the odds of a successful outcome. Prediction and intuition are important aspects of the practice of law, but robots may perform better in such aspects by means of computerized analysis.

Lex Machina, a technology firm that started as a Stanford University project, has compiled an encyclopedic database of patent and trademark case law that can interpret complex data. Sophisticated interpretation of the law is how law firms make a living, and it is through this interpretation that attorneys are able to predict likely case outcomes. By stripping away human perception, Lex Machina interprets data using computational modeling that is free from the pitfalls of human error. It would take an army of lawyers charging many billable hours to perform the work that Lex Machina easily accomplishes in a short time.

While robots are not expected to replace attorneys in the courtroom in the near future, computer automation has already replaced several attorneys in law firms in at least one particular area -e-discovery. The tedious process of e-discovery involves looking for relevant case data by combing through massive amounts of records stored in electronic formats. For law firms looking to significantly reduce expenses by trimming staff, e-discovery is exactly what they need.

As if being replaced by robots wasn’t unceremonious enough, lawyers will now have to worry about losing their clients to supermarkets. A new law in the United Kingdom is paving the way for banks and supermarkets to sell legal services to their customers.

The Legal Services Act opens the door to Alternative Business Structures, a type of business run by legal service providers who aren’t necessarily lawyers. Under this new legal arrangement, UK supermarket chains such as Tesco would be able to offer legal services to their customers. Solicitors in the UK have naturally criticized the new law, explaining that the quality of legal services will be decimated. The new law also encourages the creation of mixed practices under one roof; for example, financial and legal advice could be dispensed in the same office.

The Tesco supermarket chain has already expressed interest in offering affordable legal services to British customers interested in saving money. Tesco already offers banking services in their stores, and it expects to sell residential mortgages to shoppers later this year.

There is a common misconception that when you sell an ounce of gold in any form, it is worth the spot price of gold. The spot price of an ounce of gold is the price that a buyer will pay or a seller will accept for the immediate delivery of the precious metal.

People are sometimes shocked to find that a store offering to pay for any old gold jewelry only offers them a fraction of the spot price for their gold chains and gold rings. The confusion is usually attributable to the fact that people do not understand that gold jewelry is not made of pure gold.

What is most gold jewelry made of?

Almost all gold jewelry contains a less-expensive alloy like silver, copper or nickel to increase the strength and durability of the jewelry. The vast majority of gold jewelry is made of 14 or 18 karat gold. Gold content is measured in terms of karats in the jewelry trade. Pure gold is considered 24 karat gold. An 18 karat piece of jewelry is 75% pure (18/24) and a 14 karat piece of gold jewelry is 58.3% (14/24) pure.

Scrap gold dealers will only pay you for the actual gold content. They also reduce the amount they pay for the cost of melting down the gold, delivery charges and a commission for their services.

Gold bullion, whether it is in the form of gold bars or coins, is considered pure gold. It is at least .999 fine and has a value very close to the spot price of the metal. Purity aside, you will pay slightly more for gold bullion coins because they are easier and more convenient to handle. Large 100 or even 1,000 ounce bars offer the lowest price per ounce for gold bullion. Commissions and dealer markup accounts for the higher price you will pay when you buy instead of sell bullion gold.

What makes gold jewelry expspensive?

When you are talking about expensive gold jewelry, the value is determined in part by the gold content, but also by the design and embellishment of the particular piece of jewelry. A similar premium is also placed on collectible gold coins. The condition and rarity of a particular coin can make its numismatic value worth much more than its gold content.

An educated consumer should understand the importance of knowing the gold content and any other extrinsic factors that affect the price of their gold items. By being aware of the type of gold they may be thinking about buying or selling, they are more likely to get a fair price when they make a transaction.

What are the risks associated with private equity finance and how can investors be successful? 

Understanding Private Equity

Private Equity Finance refers to the initiative of raising capital from external investors and in turn rewarding them a share of the business.  It consists of equity shares of companies not registered and traded on a public stock exchange.  There are various ways of investing in private equity – leveraged buyouts, venture capital, growth capital, distressed investments and mezzanine capital.

Private Equity Finance: Risk Capital

Private Equity is often considered as “risk capital” due to its inherent nature and characteristics. In the case of private equity, operational issues make it hard to determine who ultimately is responsible for economic risk that arises out of a leveraged buyout.  These are the result of using increased complex credit derivatives. The chances of these derivatives not being confirmed in a timely manner is very high and this may lead to more amount being traded than underlying assets. Private equity finance is also considered a risk as a conflict of interest may arise between the responsibilities the firm has towards itself and the companies owned by the funds.  Private equity investors are faced with huge turmoil along their way and need to be more prudent while making, managing and exiting investments.  It is always important to have an entrepreneurial spirit when taking up such high risk ventures.  Private equity investors spend tremendous amount of their time and energy looking for good business investments and enable them boost their performance.  Entrepreneurs always believe in the concept of more risk equals more return! 

Successful Private Equity Investing

Private Equity Finance, with its inherent risk characteristics can be a successful venture by knowing what you’re getting into. It is essential to be in places where successful entrepreneurs are.  Success breeds further success, after all.  This will give investors valuable insights and gain knowledge of new companies. They are masters in their field and just being in their presence will enrich investors with a lot of information.  Developing an exit strategy is crucial to the success of private equity finance. The investor should have a liquidity event in place and make sure it brings rewards.  A very important aspect is diversification.  When there is effective diversity in the portfolio, small losses can be negated by higher profits in other investments and lead to long term success. With all these tips and insights, private equity finance can be highly rewarding for an entrepreneur, both as an investor as well as a business owner seeking investment yourself!

DealMarket’s online platform is meant to help the private equity world become simpler. Private Equity Finance can be successful if parties meet each other and close profitable deals. Powered by cloud-based technology, this onlie platform is considerably more efficient than using e-mail and Excel spread sheets.

The key to frugal living is avoiding the unnecessary big purchases while cutting back on the little everyday purchases. This may sound simple in theory, but is incredibly hard in practice. This is due to the fact that many consumers are simply unaware of how to cut back on their daily spending, and exactly what about their big expenditures is unnecessary.

The following is an easy to follow guide that will help set you on the path to frugal living:

1. Housing and Transportation

If you are in the market to buy a house, buy small. For every extra square foot of real estate you purchase, you will have to pay that much more in property taxes, utility bills, insurance, and mortgage. If you are looking to rent a space, look for a compact room. With the freedom that mobile technology provides, there’s no reason to have your bedroom be anything more than a place to sleep.

Carpool to work. Share a car with your spouse or roommate if you can. If you have an expensive gas guzzler, trade it in for a smaller, fuel-efficient vehicle. An SUV will cost you much more on gas and insurance and is generally a waste of resources. Most SUV drivers, after all, do not purchase their vehicles with the intent to go off road. If possible, try moving to within walking distance of where you work. The time you save on the commute will also make you better rested and happier, and the morning walk will be good for your health.

2. Don’t Eat Out

If you eat groceries, meals on average can amount to $1 per person. In contrast, a typical restaurant or fast food experience can run you anywhere between $5 and $20 dollars per meal. Over the course of a year, you could be losing thousands of dollars on meals alone. Invest that money and over time the amount can grow into the hundreds of thousands. The power of compound interest is the main reason why saving nickels and dimes is important.

3. Eliminate Debt

Just as the interest from savings accounts compound, so does debt. Worse yet, credit card interest is typically five or six times higher than the growth of your bank account. Debt will devour your finances faster than you can earn it, and cutting the size of your obligations should take priority over any other purchase, no matter how much you think you need it. If it isn’t food and shelter, you can do without it.

4. No More Cable

Cable is a bloated, expensive luxury that offers you 100 channels you never watch and don’t need. When you buy a package from a cable company, you pay for every single one of these channels, from the home shopping network to the soap opera channel. This never made much sense, but in the past people were handicapped by the lack of options. Now you can watch these programs through online and DVD rental services, many of which are low cost or even free.

5. Staying Healthy

The rising cost of medical care has crippled many individuals as they struggle to pay for prescription medication, vital exams, and surgeries. The best way to lower these costs is to stay healthy. Eating right and exercising regularly will help you remain strong and fit, lowering your susceptibility to disease and the need for doctor visits. However, you don’t have to purchase an expensive gym membership and organic food to live a healthy lifestyle. Just utilize your local park for exercise, and eat plenty of fruits and vegetables to maintain a balanced diet.

When you or someone you love has been arrested, emotions can run high. Instead of getting concerned and worrying about “worst case” scenarios, educate yourself about the bail process.

Here are three myths about bail debunked.

1. If a family member can’t pay your bail bond, you stay in jail.

Although a family member is allowed to post the money required for your bail (if any), you can also have friends take care of this for you.
The basics of bail are fairly simple. You are innocent until proven guilty, so after your arrest, the court must gather evidence to convict you of wrongdoing. Likewise, you are allowed to obtain a lawyer to defend you. Bail is a document that states you can be set free on the condition that you will return for your court date(s). You may have to pay a certain amount of money for bail as a deposit of sorts. This increases the likelihood that you will return to court if there’s a good reason why you may not want to.

A family member or friend that pays the amount requested for your bail bond is called a guarantor. This person is responsible financially if you do not come back to court for trial (of course, you are also legally responsible for deciding not to return, too).

2. There is no rhyme or reason to bail amount.

This is untrue, too. The court has many reasons for setting bail at the amount they choose to set it at. One factor in determining bail is the severity of the crime. If a crime is very minor, there may not be any money required for a bail bond. If the crime is more serious, the amount can be hundreds of thousands of dollars or more. Also, the court may consider the evidence, as well as your general character and past criminal record when determining bail amounts.

3. You have to come up with the whole bail amount.

This is one of the biggest misconceptions about bail and bail bonds. The only time you have to come up with the total sum requested for bail is if you “skip” bail, or do not show up in court when you are required to. If you do what’s asked of you, typically only ten percent or so of the total amount needs to be paid to the bail bond agent.