Whether it’s the cases involving JUUL E-Cigarettes, Monsanto’s Roundup or Zantac, you’ve likely heard about Mass Torts and their large payouts to the many victims who were injured by their products, as well as the considerable fees the law firms that handle them receive. The question is: Is it something your law firm should take on? More importantly, how can you position your firm to be successful with them?
In our March 10 webinar, we go over the main pillars your firm needs to be able to take on these legal actions. Of these pillars, one that is particularly crucial is having an effective, quick intake process. Whether you outsource your intake process or have the resources to keep an in-house team, it’s important that whoever is talking to potential clients knows how to talk to them about the specifics of mass torts claims.
We also discuss some of the important questions you should be asking yourself and other firms. While you may be interested in participating in mass torts, it’s important to do your research. It could be useful to reach out to a law firm that is already taking on mass torts and ask them questions such as:
- What is the standard approach to getting the type of case I’m looking for?
- What criteria do you use to determine whether or not you want to take on a case?
- What do you think the cost of acquisition is and what could a given case be worth?
Ultimately, you want to fully understand the benefits and drawbacks of taking on these cases so that you can be confident that you have the resources needed.
One way law firms may get into mass torts cases is by seeking co-counsel. This option allows you to divide certain responsibilities between your own legal team and another firm who has handled these cases before. This decision could also allow you to make somewhat passive income, since you’re not draining all of your resources to take these cases on but rather sharing the load with another firm.
Ultimately, mass torts claims could be an incredibly lucrative new aspect of your business. Listen to our webinar on this topic in order to hear more about what you need and the questions you need to ask in order to determine whether mass torts are right for you.
To watch the full webinar, click the link below.