Derivatives expert witnesses are seeing increased demand for work as the aftermath of the financial crisis continues to unfold. These experts are not only being used for advanced analysis but often to merely explain the basics of derivatives, how they work, and how they are used in financial markets. A year before the crisis many parties now interested in such litigation had very little knowledge of these complex financial instruments. Expert witness referral firms are continuing to recruit in this area to keep up with demand.

Automotive recall experts, warranty experts and automotive engineers of all types could soon see increased work due to the flurry of probable lawsuits against Toyota. A CNN Money article notes that the cost to Toyota from settlements could even be higher than the estimated $2 billion price tag for handling just the recalls. 

Round Table Group, Inc., the leading authority in expert witness search & referral, was pleased to be a Regional Sponsor of The Florida Bar's International Law Section.  We where also glad to have the opportunity exhibit our service at the Section's 8th International Litigation and Arbitration Conference. The conference took place on February 12, 2010, at the The Conrad Hotel in Miami, Florida.  

Round Table Group has unveiled a new expert witness search feature that allows potential clients to search for potential expert witness candidates before formally entering a search request. While the search is comprehensive, it still only a sampling of the bevy of different experts continually recruited by the firm.

Professor Dennis Crouch, author of the excellent Patently-O patent law blog, has written an interesting summary detailing a federal court's disqualification of a law firm based in part on an expert witness declaration written by a partner at that firm, in the capacity as an expert witness, in a case in which the firm was representing the other side. The court noted that there was no indication that a conflict waiver had been signed. 

Patent expert witnesses are in high demand. Continued advances in technology and the highly competitive nature of the business world ensure that patent litigation will continue to grow for many years to come. Traditionally, finding a qualified expert with specialized knowledge in the scientific field subject to your litigation has been difficult. Accordingly, many expert witness referral firms place an increased emphasis on providing a large panel of patent experts in all relevant fields to assist attorneys in their time of need.

Such assistance, however, does not preclude you from looking for an expert yourself. Let's say you have a potential need for a semiconductor expert. Where should you go first? One of the Internet's free expert databases or a simple Google search? No way. Shame on you for even thinking that. Head to Amazon.com. When evaluating the qualifications of an expert, courts tend to give greater deference those who have published extensively in the field related to the patent in issue. Amazon sells a bevy of technical books on almost any scientific field you might need. A simple search for "semiconductors" turns up literally thousands of books. It is then a small matter of contacting a book's author, who is usually easily located in his or her respective university directory.

Give Amazon.com a try next time you are thinking of using an expert. And while you are there, buy a DVD, or a vacuum cleaner, or a hairbrush for your dog. Or some other item you do not really need. Your patent expert searches can help turn the economy around!

Nick

Lexis Nexis has put out a very comprehensive survey that details the state of the legal industry. The survey polled both corporate counsel and private practice attorneys. The top issue among those cited in the survey was legal pricing/fee structures. For 2010 private practice attorneys note that 60% of their legal fees will be billed in hourly rates. Another interesting finding though suggests that private practice attorneys collectively feel that clients are too focused on reducing cost at the expense of quality legal work. Check out the full survey here.

A Manhattan judge has allowed a lawyer who worked for Bear Stearns & Co. Inc. for 29 years to testify as a securities expert witness in an arbitration against his former employer. Bear Stearns is being sued by Keefe, Bruyette & Woods Inc., for allegedly overpricing bonds sold by Bear Stearns' hedge funds three years ago. The judge noted that there was no indication that the issues involved in the arbitration were issues about which the expert acquired confidential information. Check out the scoop here.

D. Michael Grodhaus, an attorney at Waite Bailey Bayless & Chelsey in Columbis, Ohio, has written an excellent article further elaborating on possible future changes to the law firm billable hour. He notes that while there is outside pressure on firms by corporate clients, a real shift away from widespread use of the billable hour may have to come from within law firms themselves. Check it out here.

A federal judge ruled on Monday that Bank of America, defending a suit by the SEC alleging that it misled investors prior to its acquisition of Merrill Lynch & Co., could not introduce expert witness testimony at trial detailing media reports predicting it would pay bonuses. U.S. District Judge Jed Rakoff found that Bank of America's argument that shareholders already knew that Merrill would likely pay billions of dollars in bonuses based on widespread media reports was not credible because the bank's own proxy statement told shareholders to ignore such reports.