Mining your claim – turning litigation into a useful business tool
In today's difficult economic climate, businesses are having to work harder than ever before not just to prosper, but to survive. This means that they are increasingly looking for innovative ways to bolster their bottom line – seeking out opportunities in territories that might have remained unchartered in more buoyant times. One way that companies can do this is by seizing the opportunity presented by litigation when a set of facts presents itself and appears to justify the pursuit of a claim. It can be a particularly useful business tool for those rich in claims as, once a company with a regular stream of cases has become proficient in the funding, practice and business of litigation, it can commercialise it. In this way one man's liability becomes another man's asset, with disputes viewed as a potential cost generator rather than purely an expense.
Global market conditions remain tough and businesses are increasingly looking for innovative ways to boost their bottom line. Against this backdrop, litigation – more often seen as a cost – can be turned into an asset to be realised as Hugo Plowman and Melissa Donn explain
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