From the Wires
Picture It Settled® Predicts Outcome of Intellectual Property Case Within 3.5% in Just Two Rounds
Will Pryor, Mediator, Arbitrator and Adjunct Professor at SMU Law School in Dallas Calls Software Magical
By: PR Newswire
Feb. 12, 2013 02:17 PM
SAN ANTONIO, Feb. 12, 2013 /PRNewswire/ -- Picture It Settled® announces today the release of an intellectual property case study written by Will Pryor, Mediator, Arbitrator and Adjunct Professor of SMU Law School in Dallas entitled, "Discovering Picture It Settled, Breakthrough Predictive Analytics Software for Negotiation." Pryor shares how the highly-intelligent predictive analytics tool that guides inside and outside counsel through the negotiation process, based on deep data harvested from thousands of cases, predicted the outcome of his intellectual property case within 3.5% in just two rounds. That prediction then improved with additional offer data.
Pryor teaches a survey course on alternative dispute resolution ("ADR"), which includes segments on negotiation, mediation and arbitration at SMU Law School in Dallas. The president and creator of Picture It Settled® software, Don Philbin, was invited by Pryor to present the unique technology using a case Pryor had recently completed. Picture It Settled® uses neural networks, probability theory and behavioral patterns to 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.
Will Pryor explains, "Picture It Settled® is an incredibly useful tool that will become increasingly powerful as more case data is entered to make it even more intelligent. Any negotiator who wants to be prepared needs to have a tool like this. You can rely on your instincts and experience, but that will only take you so far. This software gives you a better ability to predict which way a case is headed. Whoever uses Picture It Settled® will have a clear advantage over the other party. As a mediator, it will help me keep energy in the process and keep parties at the table longer."
Picture It Settled® president and creator Don Philbin comments, "We appreciate Will writing up his experience with Picture It Settled® using a real case presented in real time."
To read the case study written by Will Pryor, please visit http://www.pictureitsettled.com/case-studies/.
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.
Contact: Christy Burke
This press release was issued through eReleases® Press Release Distribution. For more information, visit http://www.ereleases.com.
SOURCE Picture It Settled
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