Balancing the Prospect for Litigation Cost Savings

» Posted by on Sep 28, 2015 in Lawyers, Legal Matters | Comments Off on Balancing the Prospect for Litigation Cost Savings

Norton Rose Fulbright has released an annual survey report of the 2015 litigation trends. It has been said to be the most extensive in the history of the bench-marking surveys that are respected. The survey was found to have polled over 800 team members of the corporate counsel. It operated in over 26 countries so as to gauge the views an essential population.

The views ranged from the concerns and issues, as well as the trends of litigation. In this article are the reviewed highlights of the survey and there has been noted that 5 takeaways considered as key should be of great interest to the professionals of litigation.

To begin with, class actions have been found to be everywhere. Of all the respondents, a quarter were found to report that a single class or a group action that were all against the companies in the 12 months that had preceded the annual survey. 71% of the respondents who had reported class action were found to have more than a single one that was filed against the specific company in the previous one year.

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In addition, most headaches are caused by government investigations. Investigations and regulatory matters have been a focus for the in-house counsel. O f the total respondents, 39% cited the governmental investigations as top concerns. Among the companies that had very high revenues, 51% have indicated that there are many regulatory proceedings that were pending against the companies. Almost half the population also indicated that their specific companies had retained an outside counsel assistance. This is in governments or in regulatory investigation.

imagesMore so, there are regulatory proceedings and litigation that have grown. In overall, there were a 25% of the respondents who anticipate litigation that is against their companies increasing in one year. This is in comparison with just a 14% who predicted that it would otherwise decrease. A 22 percent of the population increased outside firms’ number on their specific rosters in the past years. However, half of the population has been found to spend more time in the past three years while addressing the requests of the regulatory as well as the proceedings of the enforcement.

Moreover, the lawsuits over workforce and contracts are most common. A list that had more than 20 categories of the pending litigation that were being faced by their specific companies over the last like one year was offered. They were thus asked to the select the top five. Labor and contracts as well as regulatory and employment were also presented to the respondents. Investigations were found to have received the highest selections from the population. They were followed by IP/ patients and personal injury.

for_law_firm_website_by_box426-d3feczeFinally, in the United States, litigation has more robust. The respondents that were US based have reported more litigious business environments unlike their peers. 55% on the other hand face more than a total of five lawsuits that are filled against their specific companies in the previous one year. This is as compared to the 23% that are in the United Kingdom and a percentage of 22 in Australia. Only 18% of companies in us reported absence of lawsuits as compared to a 42% in UK and only 36% in Australia.