Setting RealisticLitigation Budgets                                              completed. For one of these key firms to ...
About the Chief Litigation Officer Summit Spring 2013  The        Legal      Network           -  marcus evans Summits gro...
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Setting Realistic Litigation Budgets - Interview: Michael Caplan, Marsh & McLennan Companies, Inc. - Chief Litigation Officer Summit


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Michael Caplan the Chief Operating Officer, Office of the General Counsel at Marsh & McLennan Companies, Inc. and the Chairperson at the marcus evans Chief Litigation Officer Summit Spring 2013, highlights how a realistic legal budget can be planned.

Join the 2015 Summit along with top Chief Litigation Officers and service providers in an intimate environment for a focused discussion of key new drivers shaping the legal industry today.
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Setting Realistic Litigation Budgets - Interview: Michael Caplan, Marsh & McLennan Companies, Inc. - Chief Litigation Officer Summit

  1. 1. Setting RealisticLitigation Budgets completed. For one of these key firms to CLOs should understand where they do the early case assessment and try to stand from a litigation docket pipeline get a settlement, they would have to perspective. For example, if they are agree to a fixed price or have an faced with a pending lawsuit, it may alternative fee arrangement. The turn into discovery and a case that may cost for litigation work would then be need extra budgeting. Very specific known and the outside staffing model discounted rates can also be used from could be evaluated to a minimum law firms on the preferred partner list. number of staff. How can CLOs manage resources What legal budgeting advice can effectively? you give? There are times when there is noInterview with: Michael Caplan, An ebilling system with at least three litigation to work on and times whenChief Operating Officer, Office of the years of history is very helpful. From that is all CLOs have to deal with. TheGeneral Counsel, Marsh & McLennan this data, CLOs can look at their use of internal and external lawyersCompanies, Inc. average litigation documents, the should be calculated for both cases. outcome of settlements, their case estimates for fees and costs, and who A breakdown between external versusChief Litigation Officers (CLOs) they had hired as outside counsel. internal counsel should be done. Thisshould have preferred partner lists that Reports can then be created and a enables for the litigation life cycle to becan allow for specific discount rates and matrix designed. properly managed when the docketan agreement of fixed costs on becomes very full. Depending on thelitigation, says Michael Caplan, Chief lawsuit and its position in the life cycle,Operating Officer, Office of the General staffing and cost models need to beCounsel, Marsh & McLennan Companies, evaluated. To be readyInc. Cost control management can beenhanced by having an electronic billing Making sure that the internal litigation(ebilling) system with historical data team is doing more work than in the for thethat can be reviewed and used to plan p as t c an als o he lp t o r e d ucefor the future, he adds. unnecessary costs. unexpected,The Chairperson at the upcoming What trends do you predict for CLOsmarcus evans Chief Litigation in the future?Officer Summit Spring 2013, in CLOsColorado Springs, Colorado, March More international litigation from global21-23, Caplan discusses why knowing companies will be coming into thewhen to use internal lawyers and when market. CLOs can prepare by creating a need toto hire outside counsel is so important. litigation management life cycle and process, to consistently manageHow can litigation and case litigation across the board. over budgetmanagement costs be reduced? Litigation is similar to knowing whereA preferred partner list of firms that the next fire will be; it is unpredictable. a littlecarry out the majority of litigation is the To be ready for the unexpected, CLOsfirst step to lowering costs. Work can be need to over budget a little, and be sureauctioned off to these firms, or a that outside counsel are ready whenrequest for information can be needed.
  2. 2. About the Chief Litigation Officer Summit Spring 2013 The Legal Network - marcus evans Summits group This unique forum will take place at The Broadmoor, Colorado Springs, Colorado, delivers peer-to-peer information March 21-23, 2013. Offering much more than any conference, exhibition or trade on strategic matters, professional show, this exclusive meeting will bring together esteemed industry thought leaders trends and breakthrough and solution providers to a highly focused and interactive networking event. The innovations. Summit includes presentations on exploring best practices in utilizing eDiscovery, the reduction of litigation risk through compliance and how to protect intellectual property. Please note that the Summit is a closed business event and the number of participants strictly Contact limited. Maria Gregoriou, Journalist, marcus evans, Summits Division Tel: + 357 22 849 400 Email: For more information please send an email to All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.comAbout marcus evans Summitsmarcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discussstrategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity toindividually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings.For more information, please visit: www.marcusevans.comUpcoming EventsCorporate Counsel Asia Summit- www.asiancorporatecounselsummit.comEuropean Corporate Counsel Summit - www.eccsummit.comIP Law Summit - www.iplawsummit.comLitigation Asia Summit - www.litigationasiasummit.comTo view the web version of this interview please click here: