Litigation is often brought to court over a monetary loss, whether it is a loss in income, the cost of repairing or replacing damaged property, the cost of medical treatment, or any other form of economic loss.
The monetary sum provided for compensation in such cases is the economic damage.
Due to the nature of cases involving economic damage, an Economic Damages Expert Witness is essential in providing the appropriate expertise.
Such experts may be skilled in the following:
- Financial modeling
- Public finance
- Business valuation
- Economic impact
- Data analysis
- Property valuation
- Pricing, probability
- Loss of earnings
- Earning capacity
- Financial markets
A strong sense of business expertise is also very significant to a case involving economic damages; since a claim may be made that a business decision or lost opportunity resulted in a financial loss.
It can be important, for instance, to have an expert well versed in patents, as claims of patent infringement or validity can be the source of a potential litigation.
Additional economic damage-related cases may include:
- Unfair termination of employment
- Wrongful medical expenses
- Consumer disputes
- Intellectual property
- Expenses of an accident
- Loss of wages due to an absence from work
These types of situations would be compensated in court if the case were ruled in that person’s favor.
Trusted in over 30,000 cases nationwide, ForensisGroup will connect you with an industry-leading Economic Damages Expert Witness so you can focus on your case preparation and trial.