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For clients with multiple disputes, managing the entire litigation portfolio is imperative. Achieving consistently excellent litigation results while maintaining cost-effectiveness requires financial and administrative discipline in addition to effective individual case management. First, it is critical that a client effectively measure its total legal costs, including internal costs, counsel fees and associated expenses, and pay-outs in the form of settlements and judgments. Viewed as a whole, this cost center is often significant and, unlike material purchases, payroll and other costs, is often difficult to measure precisely. Lloyd has worked with many clients to develop cost measurement approaches that allow a client to truly understand its total cost of litigation. Once understood, these costs can be carefully controlled through several proven methods, including:
Often, companies employ too many law firms, failing to achieve economies of scale and develop more efficient relationships with their preferred law firms. Lloyd has utilized this process to save one client millions of dollars per year by negotiating a fixed fee approach with a hand-picked law firm, allowing the client to fix its legal costs and incentivizing the law firm to take greater risk in exchange for a larger share of the client’s legal work and a guaranteed fee. For many clients, this and similar approaches can radically reduce legal expenses.
Law firms often make significant profits by providing one-stop solutions to their clients, including document copying, investigations, information technology and technical litigation support. While there is an inherent convenience to having a single point of contact, in many cases clients can drastically reduce costs by focusing the law firm on its core competency and securing these ancillary services from third parties, who are fully capable of interfacing with the law firm and often provide superior service at greatly reduced costs. Moreover, by taking primary responsibility for these services away from the outside firm, clients can better participate in the decision-making that impacts the total cost of the matter. The LAW OFFICES OF LLOYD C. CHATFIELD II work with a number of highly effective litigation support providers who understand the need for cost controls and value the opportunity to build direct relationships with clients.
Data and Knowledge Management
To build a successful litigation management approach, a client must take control of the data and knowledge that are created in each case. Every brief written by an attorney, every research memorandum, every expert witness deposition can provide an invaluable resource to manage future litigation and also enhance the client’s business practices. Unfortunately, many clients abdicate this opportunity to their outside firms, when a minimal investment in technology and process could easily capture this wealth of data and information, allowing the client to practice continuous improvement by learning from each dispute. LAW OFFICES OF LLOYD C. CHATFIELD II have developed simple approaches, often utilizing a client’s existing IT infrastructure, to capture this data and empower the client to get better at litigation with every matter the client faces.