In ContactsLaw, a prospect file is a type of file which is used to record activities and documents for a prospective client. Prospect files have all of the same properties as client files, except that they cannot be used for billing or to post financial transactions.
Some examples of reasons for creating a prospect file include:
- Some information about the matter is known, but not enough to open a client file
- The prospective client is seeking a cost estimate or quote prior to engaging the firm
- The firm is trying to solicit new business from the prospective client
Conflict checking
Prospect files can be used to improve the accuracy of
potential conflict of interest checks in cases where the parties are known some time in advance of opening the client file. This ensures that files where the parties are in opposing roles are not created during the intervening period.
Conversion to client files
ContactsLaw provides 2 options for transitioning from a prospect file to a client file:
Continue on new - Opens a new client file, copying the parties and
workgroup fields from the prospect file, then prompts the user to
archive the prospect file. Use this technique when there is a clear cut between the pre-engagement and post-engagement work and you do not wish to bill any of the activities on the prospect file. A
relationship is created between the two files to enable you to refer back to pre-engagement work.
Convert to client - Converts the existing prospect file to a client file by running through the
file creation wizard a second time. Use this technique when you want to bill the pre-engagement work.
Both are accessible from the Manage ribbon on the file summary.