Jules Kamin Submitted 2017-12-20 10:24:07 I am sure most of us would have heard about economic expert witness. Some have heard about this people reading this article will be glad to know about the role of an economic expert witness.
I promise at the end of this article you will thank me for writing on this Sean Taylor Hat , you will also understand the role of an economic damages expert.
To start with, an economic expert witness is someone that has experience and knowledge on business valuation, damage collection, profit loss, other business aspect, loss earning and wages.
You also need to understand that economic damage experts are valuable resources for both the plaintiff and defense attorney in presenting the facts of the case.
The economic expert witness can serve as witness or can testify Preston Smith Hat , provide litigation, the economic damage expert will also be on ground to support and educate you on the economic issues of your case.
Different lawsuits require the knowledge of the Economic expert witness but its highly important to find and economic damage expert that has knowledge with a background matching the details of the case you have at hand.
Also, economic damage expert play an instrumental role in cases that are related to pension loses, securities, financial modeling, corporate finance Brandon Scherff Hat , transfer pricing, credit, and other financial issues.
I will also like to add that the economic damage expert can be of use when there are cases relating to commercial finance, economic models, statistics, loans Montae Nicholson Hat , funds, annuities, cost analysis, pension loses, stocks, etc.
Some cases also require the expatriate of an economic expert witness; unforeseen economic damages may lead to change in certain business decisions. The changes may include the mergers and acquisition Jonathan Allen Hat , brokerage, investment and branding and when changes like this occur, it鈥檚 important you get an economic expert witness to help solve these issues.
There have been different facets of economics that have been occurring, with the different facet of economics, to determine the source of economic damage or loss may be very difficult for the company or for you as an individual. Due to this reason, it鈥檚 imperative you get an economic expert witness that has financial knowledge of your particular situation whether it involves pension Derrius Guice Hat , securities and investment, property damage andor loss or a contractual breach.
Other economic issues that relates to other disciplines like intellectual property, identity theft, employment discrimination and other financial related fields may require the service of an economic damage expert.
Economic damage has become more important with the caps on non-economic damage the economic damage expert can help by;
Calculating economic loss ( the calculation of the economic loss will include the wages, stocks options, profits Da'Ron Payne Hat , future medical cost, household service, and benefits.
The economic expert witness will also help in adjusting loses (approximate value) for personal consumption or taxes.
The economic damage expert will also be instrumental in critiquing your opponent鈥檚 expert work.
The economic expert witness will also help estimate future damages that have been discounted to today鈥檚 dollars.
Lastly, focusing on the extent of the damage is also important in your case strategy and that is what an economic expert will offer.
Also, the mechanics for measuring the past and future economic loss can be done;
Anti-trust and matters involving infringement matters, the valuation of business Ryan Kerrigan Hat , the interpretation of business and lost profit is also used.
Finally, wrongful death and termination matters can be used; personal injury is also a resort.
Another role that the economic expert damage plays is that they prepare expert report and also provide consultancy service. The economic expert witness can also testify on economic damage and also advise you on issues like;
Strategy in settlement or trial on the credible amount of damages. The economic damage expert will also manage your client鈥檚 expectation as regards the extent of the damage made. To signal to your opponent that the opinion of the expert he hired cannot go unchallenged.
During discovery, the role of the economic damage expert is cr猫me to the development of facts and strategy in your case.
All you need to do when you hire an economic expert witness is to give the economic expert witness time to learn the facts, to point out the strength, weakness and to also identify opportunities of your case and prepare a report or critique that is focused and credible.
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