In a world of lawsuits galore, it’s no surprise that many individuals and companies are facing litigation. But the problem isn’t just personal injury lawsuits – a number of businesses and individuals are facing a barrage of legal action as well. Whether your business is facing litigation is a matter of how well it protects the public from harmful practices.
One study shows that ninety percent of all U.S. corporations are involved in some form of litigation. According to a recent survey by Fulbright & Jaworski LLP, a global law firm, the average U.S. company balances 37 lawsuits a year. For $1 billion companies, the number soars to 147. One of the primary concerns among corporate counsel is controlling the costs of litigation. But while litigation costs are a legitimate concern, companies aren’t willing to cut their legal staff to cut corners when it comes to controlling expenses.
Companies and individuals are increasingly comfortable playing the plaintiff role. In fact, the average U.S. company initiated 11 lawsuits and two arbitrations in the past year toxic infant formula lawyer. Companies that make $1 billion+ are twice as likely to initiate litigation. And, in terms of size, finance firms are the most aggressive in initiating litigation. Only eight percent of corporate law departments function without a staff lawyer or litigator.