An economic expert can turn any court case around and help a company in need. Although not every expert needs to be an expert witness, their abilities are endless in court and can help turn around a case in your favor. Here are some of the best things to look for in an economic expert when hiring one, and why it’s essential to consider each factor.
Case Matter History
Unless you’re getting an economic expert fresh out of college, the potentials you speak to will have a work history. Ask if you can look at the previous cases that they’ve helped with. When you receive this information, there are a couple of things to consider.
First- how did the cases turn out? Is there a win or loss percentage in their favor? Do you think they had much of a hand in those wins or losses, or did other evidence come up to sway the case?
Secondly- what was the case over? Think about the case’s content matter, what caused it, and whether that ties into what your business needs. Even if someone has worked dozens of cases, if none of those cases align with what your company needs, you might as well be working with a brand new witness.
Cost of their Services
How much can your company afford? An expert witness can charge anywhere from a hundred to six hundred dollars per hour in court, which can add up quickly. Consider what your budget is for your court date and whether there’s room in it for them. Don’t be shy to ask for their rates, and consider shopping around if you can’t find what you need.
Style in Court
Their facts and numbers are useless if they don’t have a right presence in court. Look at how they’ve done in previous cases, and if that matches how you’d like your chance to be presented. Although you should still care about their numbers and their wealth of knowledge, court cases- especially those with a full jury- can often turn into a personality contest.
It would help if you tried to find a professional who can be severe with the information and is extremely capable of dumbing it down for everyone in the courtroom. An excellent reason for this is that someone who can simplify complex information has a deep understanding of it. Not only will it help you find someone personable, but they’ll also be incredibly skilled in their field.
If your company has a lot of use for an economic expert, and you know you’ll have to hire them on again soon: look for one that doesn’t currently have a huge caseload. You want to find someone who can devote their time to your company. Consider, if it’s needed, hiring an economic consultant to work exclusively with your company. It may be a good idea to work with them on a case or two first to see if they mesh with your company, and then go for it! They’re fantastic professionals.