Average U.S. corporation juggles 37 lawsuits
I don't know how I missed this one, but I'm glad I finally ran across it: the international law firm of Fulbright & Jaworski L.L.P. (whose company slogan is "When you think litigation insight, think Fulbright), released their second annual Litigation Trends Survey last October. It is a fascinating, 32-page glimpse at the impact of runaway litigation on the economy. Here are some interesting facts from their findings:
- Nearly 90% of U.S. corporations are engaged in some type of litigation, with 20% managing 1 to 3 cases, 25% dealing with 4 to 10 cases, 25% juggling up to 50 cases, and the remaining 20% facing an average caseload of 50 to 100 litigation cases.
- The average company juggles a docket of 37 U.S. lawsuits
- Almost 40% of U.S. corporate counsel are unable to predetermine the costs of managing business disputes because they cannot quantify their litigation budgets in relation to their overall budgets
- Over a quarter of all corporate counsel in companies with revenues over $1 billion did not know their litigation budgets(!)
- Electronic discovery was the #1 new litigation-related burded for companies.
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