Engage Cost Effective Legal Counsel
By Bryce H . Bennett , Jr ., Attorney
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Dispute resolution and litigation has become a cost of doing business in the United States of America . For uninsured losses , the cost of litigation goes directly to the business owners ’ bottom line . For insured losses , litigation costs and indemnity payments impact future insurance premium payments . Insurance premium expenses are impacted by claims and litigation . Therefore , no successful business owner can ignore legal risk assessment , early dispute resolution or the cost of litigation .
Sophisticated consumers of legal services should be able to manage and control to a large extent the cost and quality of the services that they receive . Given that control , how should it be exercised to obtain effective , high-quality legal services that recognize and avoid risk exposure and minimize settlement payments , attorney ’ s fees , costs and expenses ?
First , it is necessary to be proactive in risk management . Anticipate and recognize the early signs of trouble and proactively seek competent legal advice from an experienced and trusted attorney . A risk assessment audit can identify potential exposures and assist in acquiring appropriate insurance coverages for anticipated losses .
Depending on your business , it is wise to have a working understanding of contract law , employment practices liability , wage and hour laws , non-compete agreements , comparative fault , product liability , professional liability , liquor liability , premises liability , enterprise liability , insurance coverage issues , conflicts of interest , Americans with Disabilities Act , creditors rights , liens and Worker ’ s Compensation . An enterprising business owner should find no shortage of law firms willing to present in-house seminars or training sessions covering the basic Indiana laws and principals applicable to their industry .
Second , when a dispute or potential problem exists , early investigation in anticipation of litigation can develop confidential and privileged information necessary to evaluate and resolve most disputes and problems before litigation develops . This is true even when the opposing party is represented by aggressive plaintiff ’ s counsel .
Nevertheless , a certain percentage of disputes and claims cannot and will not be resolved short of litigation . In these cases , experienced litigation counsel is necessary . And because attorneys and law firms are not interchangeable commodities , it is necessary to use care in selecting experienced and dedicated legal counsel that will efficiently and effectively resolve the litigation in a prompt and professional manner so your business feels well-represented and pleased with the outcome .
Hourly rates are not the sole criteria for selecting cost-effective litigation counsel . “ The best lawyers are expensive ,” USF & G ’ s general counsel , John A . MacColl , says , “ but the second-best lawyers are very expensive .” Many companies now realize that quality representation , even at a higher hourly rate , will not only reduce settlement and indemnity payments , it can save attorney ’ s fees as well .
Regardless of what rate a lawyer or firm charges , a client should demand and expect certain things from litigation counsel :
• Immediate written acknowledgement of the assignment , with an outline of additional investigation
14 Riley Bennett Egloff LLP - February 2017