A Spectrum of Tools to Support Litigation Risk Assessment: Promise and Limitations

Abstract

Legal clients increasingly expect systematic assessment of litigation risk, and yet not all lawyers are comfortable with this role and methods for accomplishing it. In an age of increased focus on informed decision-making by clients, early resolutions, and accessible justice, solid litigation assessments are vital. Technology in this area is continuing to develop, and can focus and support risk assessments in important ways. In this article, the authors present their research on the available categories of tools: checklists, decision analysis tools, game theory tools, tools which focus on data-mining (with or without probability analysis), and finally, internal organizational (criteria-based) models. After describing the range of tools available, the authors note some practical limitations and end with a conclusion that the lawyer’s risk assessment “toolbox” — although constantly growing — is perhaps surprisingly full.

Keywords: Litigation Risk Assessment, Risk Analysis, Electronic Tools