The cost of hiring expert consultants and witnesses can form a significant part of a client’s arbitration bill. As a result, it makes sense to consider how to get the best value from experts. But what constitutes expertise and when can bringing in a financial expert be most beneficial?
At a glance
- Economic analysis provides tools to understand how markets and commercial situations may have developed: focusing on understanding not what has happened, but why it has happened.
- Many financial experts will be qualified accountants or economists, but their skills can vary widely.
- Experts who have acted in a range of forums and in a range of roles are likely to be the most versatile in helping you to leverage their skills.
- The value that a financial expert brings will partly depend on what stage he or she joins the case—and counsel should plan to bring them in very early.