What is Litigation Risk Management / Settlement Valuation?
Litigation Risk Management / Settlement Valuation is a set of powerful tools that provide a comprehensive, logical methodology for better understanding litigation risk, managing the risk more effectively, and understanding and managing settlement opportunities. Litigation Risk Management / Settlement Valuation applies the discipline of decision-tree analysis to address the inherent uncertainties that complicate litigation risk management and valuing settlement. These tools, which can be readily mastered and consistently applied, will enable you to quantify risks and uncertainties, anticipate the range and likelihood of the possible outcomes, and determine optimal settlement, pre-trial, trial and appeal strategies.
How can we control risk when we don’t know what the trial outcome will be?
It is certainly true that the overriding uncertainty in litigation is the trial outcome, which ultimately cannot be controlled. You can, however, identify and focus on your decisions, which you do control, and how they can be expected to affect the outcome. You will never eliminate all the risks in your litigation, but you can manage risk in a cost-effective manner.
Does Litigation Risk Management really work?
Yes! These are powerful tools that will help you identify and assess the critical factors in a case, reduce the complexity of any case, and incorporate your legal and business expertise into the decision-making and valuation process. These skills are essential in today’s corporate litigation environment. Companies using these techniques have saved millions of dollars in litigation expenses.