Managing Litigation Costs and Risk

Surveys reflect that over 70% of in-house counsel are dissatisfied with their outside counsel and their primary complaints center on the explosion of litigation costs. A recent ACC survey also reflects that over 85% of in-house counsel believe their outside counsel are not highly efficient. While numerous articles proclaim the death of the billable hour, much like Mark Twain's famous quip about reports of his death being greatly exaggerated, research shows that in-house counsel are still  relying upon the billable hour as the preferred method of compensation. Yet, the billable hour system does not reward law firms for efficiency. Thus, unless in-house counsel adopt new best practices to managing their litigation matters (that include specially adapted techniques for reining in outside counsel) they will be consigned to ever increasing litigation costs.  

Recently, various quick-fix approaches to reining in costs have become the rage – from fixed-fee arrangements to convergence hiring to RFPs to outsourcing etc. These approaches can provide some short-term relief but they fail to confront and resolve the overriding problem. There is only one way for in-house counsel and corporate executives to rein in litigation costs. Just like their company’s biggest customers – who constantly demand the highest quality product at a fair price – in-house counsel and corporate executives must do the same when it comes to their outside counsel. Like their biggest customers - they must become fully informed consumers – understanding the cost components of the product they are purchasing and knowing what is needed to provide the highest quality product – no more, no less.

In order to achieve this informed state, in-house and corporate executives are going to have to learn how to identify some of the approaches that have resulted in excessive litigation costs over the last few decades. They need to retrain themselves - breaking old habits that foster higher costs and, in turn, retrain their outside counsel.

Ark Group’s Managing Litigation Costs and Risk conference will provide attendees with a jumpstart towards developing the skills needed to better rein in costs while at the same time obtaining optimal representation. This unique forum will be moderated by Stewart M. Weltman - a complex litigator who has successfully prosecuted, defended and tried major antitrust, securities and other complex matters for 29 years - and Michael Rigney - a litigator for 28 years who for 18 of those years was in-house counsel managing complex litigation matters for BP Amoco — and will also feature other top complex litigators and in-house counsel from major legal departments. Attendees will learn the best practice insights from both sides of the table on how to rein in litigation costs and still achieve optimal results.

We sincerely hope you’ll join us for what promises to be a very engaging and enlightening day!