Tips for Reducing Legal Costs
One of the main problems is that many of the costs for legal counsel do not make economic sense, specifically when we look at the current tort system. In other words, payments made out to “victims” through the courts typically relate directly to the individual and not the society as a whole. Today, congress is working hard to determine what changes, if any, would boost the economy.
Most people believe that a nationwide collaboration with specific procedures, guidelines, and strategies is the best defense against the rising cost of legal costs. In other words, we need to create an environment in which a concerted effort would provide cost savings in many, if not all, industries. The truth is that litigation costs and fees are on the rise. By making sure these expenses have, a realistic and reasonable connection to risks and objectives is one way of preserving our society.
With concentrated efforts and strategies, costs could be contained but still provide the reward in appropriate situations. To improve these collaborative efforts, each person needs to consider the ways which they view things. For instance, if an entire law firm has the same concept of value, then decisions in every case are consistent, following direct strategies. This way, decisions from within the law firm are made with the same objectives in mind.
When seeking an attorney, look for a firm that has a lead attorney, someone with outstanding education, experience, and leadership. This way, informed decisions are made, resulting in the elimination of unnecessary costs that are passed down to the business owner or individual. Then, candor is essential. If certain costs cannot be discussed in a professional manner, there are problems. A business owner or individual has the right and obligation to work with an attorney that is honest and direct. This type of communication is crucial to saving money while still being provided with top-notch legal counsel.
In addition, more and more people could do some of the work themselves. Considering that public records provide significant insight, many times, information could be obtained by the business owner or individual involved with a lawsuit rather than a legal team, thus cutting significant costs. For information that would need legal support, some things could be handled by a legal aid or paralegal, again reducing costs. The bottom line is that while we need lawyers and the valuable services offered, being creative in the way information is obtained directly to a lawsuit could mean significant savings to most industries.
Richard A. Hall is founder and President/CEO of LexTech, Inc., a legal information consulting company. Mr. Hall has a unique breadth of experience which has enabled him to meld technology and sophisticated statistical analysis to produce a technology driven analytical model of the practice of law. As a busy civil trial attorney, he was responsible for the design and implementation of a LAN based litigation database and fully automated document production system for a mid-sized civil defense firm. He developed a task based billing model built on extensive statistical analysis of hundreds of litigated civil matters. In 1994, Mr. Hall invented linguistic modeling software which automatically reads, applies budget codes, budget codes and analyzes legal bill content. He also served as California Director and lecturer for a nationwide bar review. Mr. Hall continues to practice law and perform pro bono services for several Northern California judicial districts.