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RTG: Expert Witness Billing Rates, How Much is Too Much?
While I am a big fan of market forces determining an expert's billing rates, there has been an interesting ruling recently that has led me to re-think this philosophy, at least in specific situations. In this matter, one party (plaintiff) hired a neurosurgeon expert at a staggering 5000.00 for the first hour, 2,000 an hour thereafter, which of course is their right. If they want to pay an expert that amount, well, good for them. But when the opposing party (defendant) has to pay for the expert's time in a deposition, they got stuck with that rate as well. Is this fair?
In her Dec. 30 ruling, (Crawford v. American Legion Ambulance Association) a New Jersey federal magistrate judge thinks its not, calling $7,000 for two hours work "near to being extortionate".
Check out the whole story here.
Round Table Group at INTA: Here Comes the Surge
Our booth at the INTA Conference is in a terrific, high-traffic location that is attracting a lot of fascinating IP folks. Although several hundred litigators have stopped and met us, many of our visitors have been experts, who are making the most of this remarkable gathering to network with law firms and other vendors.
I love talking with the experts here. Many are from Europe, Asia and Latin America, and chatting with them has been useful in getting industry intelligence about trends. I have heard three main things from the expert witness industry: first, a large percentage of Experts complained of slow payment, or delayed work; second, most Experts predict an increase in IP litigation in the near future - between 6-10 months, by anecdotal account; and third, many are looking to re-build or create professional connections with low or no-obligation alliances through which they may better position themselves to develop this expected business resurgence.
The shared sense that the slowdown is ending is reassuring. Most of us have noticed, and felt in substantial ways, the ripple effect of the economic downturn. What I found quite interesting was how many experts described how they were positioning themselves for the anticipated surge in economic, and medical device litigation.
Most of the experts who stopped to chat were working their networks, shaking hands and actually handing out CVs or small portfolios. Several were resorting to the exhibitor strategy of offering swag to get people's attention. At this writing, seven have asked to sign up as RTG registered experts, which of course has no cost and comes with no obligation to take any case.
If you are an expert (thus reading this blog), Round Table Group can help position you to best ride the wave of expected financial litigation coming down the pipeline. If you are already registered, log onto your profile and make sure it's current. One of our skilled and enthusiastic Expert Services Coordinators can review your profile and make suggestions. If you are not an RTG registered expert, sign up! Get your name out there in as many places as possible for maximum visibility.
There is also a gratifyingly significant proportion of experts at this meeting who have already signed up with Round Table Group. As the manager of an international expert recruiting drive, I lead a virtual team of dedicated people who work hard to recruit people we never get to meet. Being here has been awesomely affirming by allowing me to meet and talk with RTG experts face to face.
