One of the highest risk areas of any corporate legal department is the risk attached to its litigation portfolio. As litigation is subject to several external and uncontrollable factors, it is difficult to accurately budget legal expenses and to predict any outcome. Further, the company is at risk of facing adverse judgments which are usually disproportionate to the cause of action.
The typical lawsuit can take between two to five years to run its course. During the suit, management must supervise the lawsuit and devote significant resources to defending or prosecuting the lawsuit. This diverts management’s time from pursuing the core business of the company. Different outside counsel can be unaccountable and can take different approaches, making them difficult to reliably supervise.
Not only are litigation fees unpredictable, they can become a steady, monthly drain on profitability. These risks are especially acute for the company with litigations being contested or defended simultaneously in several jurisdictions.
Legasis approach is that litigation should be quantitatively and systematically managed like every other aspect of your business operations with a clear focus on tracking, managing & disposing the litigations.
General Counsel needs a report on how each case will be managed in the months ahead, but as one sits down to reconcile the status of each case, and assess the billing statements of each firm against plans, she has a hard time sorting out exactly where things stand, as what she is looking at seems to bear little resemblance to the case plans received months ago. Where to start...?
Need of the hour Solution
A comprehensive solution to track all litigation related matters right from notice stage all the way upto final disposal in the Supreme Court. Includes a central repository for storing and accessing all case related documents (including internal memos, legal opinions and research material) and also assists in viewing spends incurred as a whole as well as on case-to-case basis.
Age of litigation is high
Allows users to analyse all cases by age and as a result take strategic decisions on cases older than a certain threshold.
To unblock & move the assets blocked in litigation.
Provides clear calculations to accurately predict the contingent liability arising from any or all cases and factor these in while preparing the corporate accounts.