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| Faith R. Greenfield, a speaker at the marcus evans Chief Litigation Officer Summit Spring 2012, on legal cost optimization strategies. |
NEW YORK, Mar 7, 2012 - (ACN Newswire) - Litigation and e-Discovery costs are increasing, therefore we must learn to do more with less, says Faith R. Greenfield, Vice President of Legal, Chief Litigation Counsel, Campbell Soup Company.
A speaker at the marcus evans Chief Litigation Officer Summit Spring 2012 taking place in Amelia Island, Florida, March 18-20, Greenfield discusses why cost control management and alternative fee arrangements are crucial in today's economic environment.
- What challenges are Chief Litigation Officers currently facing?
Faith R. Greenfield: In these challenging economic times, we expect a rise in claims and litigation. Companies are cutting costs and legal departments are told to do more with fewer resources. Management executives are challenging their chief litigation counsel to reduce outside legal fees and litigation costs.
- What legal cost optimization strategies would you recommend?
Faith R. Greenfield: In the past few years, in-house counsel have asked outside law firms to increase their use of alternative fee arrangements and many firms have agreed. It is likely that this trend will accelerate.
At Campbell Soup Company, we have been successful in engaging outside counsel under alternative fee arrangements that work for the company and for our outside counsel partners. Organizations considering alternative fees for litigation should structure arrangements that focus on value, predictability and aligning outside counsel with company objectives.
E-Discovery can add dramatically to litigation expense, therefore it is important to find efficiencies and economic solutions. The first step is for the litigation group to partner with the IT department so that in-house lawyers are aware of the company's current computer technology systems. This requires an understanding of where various electronic data resides within the company and what e-Discovery tools are available both internally and in the market. There are always new technologies being offered that can be used to collect the electronic documents and data needed in litigation.
Companies with small litigation departments must look outside the company to vendors that provide litigation support for e-Discovery assistance. Companies with significant litigation and larger litigation practice groups may find it more efficient and economical to develop their own in-house tools.
- What trends in the legal space should counsel expect?
Faith R. Greenfield: In the current economic and regulatory environment, it is likely that we will see a rise in the number of commercial cases filed by and against corporations and other business entities. An increase in commercial disputes means that in-house litigation lawyers must be prepared for additional work and litigation-related costs.
Litigation counsel will continue to spend a significant amount of time and expense preparing for and responding to e-Discovery requests. Courts and counsel now have the benefit of experience with electronic discovery, practical e-Discovery rules and instructive case law. With judges more familiar with e-Discovery issues and with the technology available to address those issues, I believe courts will expect litigants to implement available technological advances in order to comply with e-Discovery requirements. In-house counsel's challenge for the future will be to tap into technological advances that can provide efficient, cost-effective tools for analyzing and conducting e-Discovery.
- What advice would you give to Chief Litigation Officers?
Faith R. Greenfield: The best litigation results are achieved when in-house legal professionals work effectively and in partnership with their outside counsel. Our most successful partnerships result when outside lawyers are accessible, interested in learning about our business and value in-house lawyers and paralegals' close participation in cases.
Finally, do not be reluctant to ask law firms to agree to alternative fee arrangements. Although these arrangements may not fit every litigation matter, look for opportunities to employ fee arrangements such as fixed fees, capped fees and bonuses for winning results that achieve economic predictability, drive efficiencies and align the interests of the outside firm to the company's objectives.
About the Chief Litigation Officer Summit Spring 2012
This unique forum will take place at The Ritz-Carlton, Amelia Island, Florida, March 18-20, 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on managing litigation, implementing innovative strategies to successfully manage multiple cases and reducing overall costs.
For more information please send an email to info@marcusevanscy.com or visit the event website at www.chieflitigationofficersummit.com/FaithRGreenfieldInterview
marcus evans group - Legal Sector Portal
The Legal Network - marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.
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Please note that the summit is a closed business event and the number of participants strictly limited.
Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager,
marcus evans Summits
Tel: +357-22-849313
Email: press@marcusevanscy.com
Topic: Trade Show or Conference
Source: marcus evans Summits
Sectors: Trade Shows
http://www.acnnewswire.com
From the Asia Corporate News Network
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