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| Peterson Tien, a speaker at the marcus evans Litigation Asia Summit 2012, on the importance of developing a trustworthy relationship with outside counsel. |
London, Apr 20, 2012 - (ACN Newswire) - Working with outside counsel can prove to be very expensive, but unfortunately it is a must as there is no in-house team that can be equipped with the legal knowledge and know-how of every jurisdiction, says Peterson Tien, General Counsel & Vice President, Chimei Innolux. General Counsel must work with outside counsel to reduce litigation costs and achieve better outcomes.
A speaker at the upcoming marcus evans Litigation Asia Summit 2012, in Singapore, 20 - 22 May, Tien shares his views on improving the relationship between in-house and outside counsel.
- How should General Counsel handle litigation cases?
General Counsel must adopt a proactive approach to litigation, as it is very time consuming and expensive. To handle litigation in a budget effective way, they must establish a high-quality monitoring system, particularly when it comes to building relationships with outside counsel. It is equally important for in-house counsel to have a top-down approach where there is full alignment from C-level executives.
- How can the relationship between in-house and outside counsel be improved?
This relationship is one of love and hate. Unfortunately, no in-house team can be equipped with all the legal knowledge and know-how of every country and jurisdiction, so part of this must be outsourced. If too much trust is put in outside counsel, they will take advantage of that and run the budget very high. Organisations must spend time to build up a good relationship without giving them a blank cheque. It is advisable to be very detailed-driven and give outside counsel a list of what you will and will not pay.
General Counsel should also ask outside counsel for an overall budgetary estimate for the case as well as monthly forecasts. They have better knowledge of litigation actions and can presuppose what the outcome will be. By looking at this outlook of expenditure, General Counsel can look at the accumulative forecast at the end of the year and see if there is any major deviation and spot issues in a timely manner.
- How has litigation become a part of the overall business operation?
Traditionally, litigation aggressive companies only existed in the US. There is now a trend in Korea, Japan and Taiwan of managers expanding their business thought, not only covering the operation of commercial matters but also placing a strong focus on litigation.
About the Litigation Asia Summit 2012
This unique forum will take place at the Marina Bay Sands, Bayfront Avenue, Singapore, 20 - 22 May 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 cost-effectively managing disputes, foreign jurisdictions and the importance of building strong relationships with external counsel. For more information please send an email to info@marcusevanscy.com or visit the event website at www.litigationasiasummit.com/PetersonTienInterview
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Contact:
Stacey Melvin,
Journalist, marcus evans, Summits Division
Tel: + 357 22 849 400
Email: press@marcusevanscy.com
Topic: Trade Show or Conference
Source: marcus evans Summits
Sectors: Daily Finance
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From the Asia Corporate News Network
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