Announcing CorpDirect LSR (October 2005)

About Us > Press Room > Announcing CorpDirect LSR (October 2005)

Effective today, October 17th, we are announcing the implementation of CorpDirect LSR, a Lien Search and Reporting (LSR)system. As a result, clients will begin to receive Search Reports with a new format. The new format will offer a more user-friendly report that in most instances will provide the results of multiple lien type searches in a condensed, single page report. We are working to ensure that any pending searches for a particular client matter are completed before a client begins receiving the new search report. We hope to avoid your having different report formats for a single matter. If you do encounter this situation, please let us know and we'll reproduce the reports with the previous format.

The LSR module utilitizes a series of knowledge databases that capture and report results of lien searches through consistent quality control features. These features include the cross-utilization of dynamically linked debtor name and verified jurisdictional data tables to increase search and reporting accuracy. The system employs historical lien search abstracting tables for direct result-to-result comparisons to ensure the validity of results. Our ability to compare the results of a current search to the results of a search performed in the past enables us to apply a level of quality control that may reduce the potential for an error to almost null.

Last week, our researchers began abstracting all results into our system for historical capture. Beginning today, search reports will be generated through LSR to produce search reports under the new format and quality control features.

Over the next few months, CorpDirect eFS will have scheduled implementation phases that will allow:

• Client preparation and filing of UCC financing statements online via CorpDirect.com
• Lien searches to be generated online via CorpDirect.com
• Search reports and copies to be obtained online by client using LSR
• Search results to be generated in Excel spreadsheets by LSR upon client's request
• Search results to be generated in Excel spreadsheets online by client using LSR
• Tracking of UCC filings and continuation/lapse due dates
• Access to Jurisdictional Knowledge Databases