Introduction:

Prophet’s Forecast of Expenses provides a precise breakdown of expected litigation costs, enabling attorneys to make informed decisions. By leveraging state-specific data and advanced analytics, Prophet minimizes uncertainty and highlights the true cost of pursuing a claim.

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Key Features:

1. State-Specific Cost Analysis:

   • Tailored litigation cost projections based on jurisdictional averages.
   • Includes filing fees, expert witness fees, attorney rates, and more.

2. Expense Breakdown by Phase:

   • Detailed estimates for each phase of litigation:
     • Filing and Pre-Trial: Administrative costs, filing fees, and initial legal expenses.
     • Discovery: Costs for depositions, interrogatories, and document production.
     • Mediation: Estimated costs for court-mandated or private mediation sessions.
     • Trial: Comprehensive breakdown of trial-related expenses, including expert testimony and legal representation.

3. Scenario-Based Forecasting:

   • Customizable scenarios to compare potential costs for:
     • Settlement at Mediation.
     • Proceeding to Trial.

4. Risk Mitigation Insights:

   • Identify areas of financial risk, including potential excess judgment exposure.
   • Prepare for negotiation or trial with clear financial expectations.
   • Example Expense Breakdown:

     Projected Costs for a Hypothetical Claim in [State Name]:

     • Defense Legal Fees: $25,000 – $60,000
     • Discovery Costs: $12,000 – $30,000
     • Mediation Costs: $6,000 – $12,000
     • Trial Costs: $50,000 – $150,000
     • Potential Jury Verdict: $200,000 – $600,000

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   • Why Choose Prophet for Expense Forecasting?

     • Accuracy: Backed by real-world data and jurisdiction-specific insights.
     • Transparency: Understand every cost involved in litigation.
     • Strategic Value: Use cost forecasts to negotiate better settlements or prepare for trial.