Litigation risk analysis
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Litigation risk analysis is a subset of decision tree analysis and is the application of decision tree analysis to litigation and lawsuits. The term was first coined by Marc Victor. Litigation risk analysis is a growing practice by lawyers, mediators, and other alternative dispute resolution (ADR) professionals. When applied in mediation settings, litigation risk analysis is used to determine litigated best alternative to negotiated agreement (BATNA) and worst alternative to negotiated agreement (WATNA) scenarios based upon the probabilities and possible outcomes of continuing to litigate the case rather than settle Simple Risk Analysis in Mediation. The process of performing a litigation risk analysis by mediators has been hampered by the need for mediators to physically draw out the decision tree and perform calculations to arrive at an expected value (EV). However, there have been calls for more mediators to adopt the practice of performing such an analysis Risk Analysis in Mediation by Geoff Sharp.[1][2][3][4][5]
References
- ^ "LITIGATION RISK ANALYSIS™ AND ADR" (PDF).
- ^ "Risk Evaluation in Intellectual Property Litigation" (PDF).
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- ^ "litigation Risk Analysis" (PDF).
- ^ "Essentials of HIPAA Security Litigation Risk Planning" (PDF).
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Online Sources
Arbitration and Mediation in International Business http://www.prismlegal.com/wordpress/index.php?m=200901#post-909 http://mediatorblahblah.blogspot.com/2007/01/risk-analysis-in-mediation.html