Cost management legal

An overview of costs management in litigation. This note looks at the meaning of, and rules for, costs management, its implications for parties and 

What are legal costs?

Costs are usually awarded to the party who is successful at trial.
They are intended to be a partial indemnity for legal fees and time spent, plus a reimbursement of proper out-of-pocket expenses that the successful party incurred in starting or defending the lawsuit.

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What happened to legal cost control?

DALLAS, December 06, 2022 -- ( BUSINESS WIRE )-- Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Legal Cost Control, Inc. to Alan Gray LLC.
The acquisition closed September 8, 2022.

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What is cost management?

David Haeney, Chairman of the Cost Management Task Group, has prepared the following materials to aid in defining and bounding this critical function.
Cost Management is the process of accumulating, organizing and analyzing the data that is required to make cost related decisions for the purpose of obtaining maximum financial effectiveness.

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Why should corporate legal departments invest in legal spend management?

No longer viewed as an untouchable cost, corporate legal departments are under significant pressure to do more with less and are investing in resources to manage those costs.
Epiq’s Legal Spend Management team helps clients identify and act on cost savings opportunities by offering a range of services, technology, and consulting.


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