LEGAL FEE ADVISORS introduces its Complex Litigation Cost Management service to relieve corporations of the burden of inside management of large, complex U.S. or International litigation
Posted on October 29th, 2014 by Legal Fee Advisors
Legal representation related to large, complex matters can be especially lengthy and expensive for companies. The reality is that litigation demands extraordinary resources and attention which most companies cannot afford to give.
The challenge: Large, complex litigations stretch the resources of many in-house legal departments. They feel a loss of control over the ligation process and typically do not have the time nor the resources to:
1. Set reasonable budgets, projections and billing rules as control mechanisms; and
2. Consistently and efficiently monitor the law firm’s bills during the life of the case.
The result: inconsistent budgetary control and lack of planning.
In many instances, the firm disregards existing budgeting protocols or billing guidelines. In other instances, there are no billing guidelines or controls in place at all to ensure fair and ethical billing.
In-house lawyers lack the time to tackle this dilemma. Further, it makes sense that in-house counsel would dedicate scarce resources to the substance of the litigation, rather than bill review.
Many clients welcome the intervention of an experienced, credible 3rd party to ensure compliance with reasonable billing standards.
Our Objective: To relieve Corporations of the burden of inside management of complex U.S. or international litigation, so that fair, efficient legal costs and optimum results are obtained in each litigation.
Our Solution: In collaboration with the Company and law firm, LFA in consultation with all stakeholders, drafts simple, effective billing rules and guidelines that make sense for the parties in order to drive efficiencies in the litigation, including appropriate staffing models and budgeting validation. The next step: our attorney legal analysts perform impartial, careful, and confidential analysis of the law firm’s billings on a monthly basis to ensure compliance with the billing standards going forward. LFA will determine whether the client is being fairly and consistently billed for the work performed and will report to the Company as needed. Legal Fee Advisors is also available to negotiate an adjustment to past charges, at the Company’s request.
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