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- Title
CORRALLING YOUR RUNAWAY LEGAL COSTS.
- Authors
WEINSTOCK, NORMAN
- Abstract
The article discusses litigation costs and corporate cost management systems. Keene Corp. bought a manufacturing company in 1968 for $8 million which had produced some manufactures containing asbestos. In 1975 the company was shut down but as of 1993 Keene had 72,000 lawsuits which were costing them $3.3 million a month in defense costs. A corporation searching for a cost management system should study traditional techniques for managing legal costs and evaluate the different methods for alternative billing such as fixed rates. INSETS: GETTING A GRIP ON YOUR LEGAL COSTS.;HOW TO MAKE YOUR LAWYERS SEE THE LIGHT..
- Subjects
LEGAL costs; KEENE Corp.; DEFENSE (Civil procedure); COST analysis; TAX &; expenditure limitations; ASBESTOS; ACTIONS &; defenses (Law)
- Publication
Financial Executive, 1995, Vol 11, Issue 1, p16
- ISSN
0895-4186
- Publication type
Article