The Benefits of Expert Witness Testimony for Your Case
If your law firm takes on a banking regulation case, consider incorporating expert witness testimony into your case. An expert witness legitimatizes and qualifies your position in several ways.
They Know the Industry A well-trained lawyer can retain a large amount of information in a short amount of time, but the bottom line is an expert witness actually has firsthand knowledge on banking regulations. Expert witness testimony strengthens your argument by presenting outside documentation and third-party opinion.
They Know the Banking Laws Even though law is your expertise, specific laws may still be more complicated and time consuming for you to research thoroughly. An expert from the banking industry will know what standards or regulations have been violated, and will be able to interpret them for you. Their knowledge likely extends to understanding loopholes and dealing with governing bodies in the banking industry as well.
Tips on Opposing Council Opposing council will likely hire their own expert witnesses, which is where your expert witness becomes even more valuable. Their years of experience can give insight into how the opposing legal team might tackle their position and offer pointers that will influence your position — leading you to adjust yours or research a different legal angle.
Polish and Professionalism A highly experienced banking expert has served on a few cases already and lends a rational voice to your case. This comes with practice, which is why the best thing you can possibly do for your expert is to keep them informed and include them early in depositions.
Conclude Your Case Early Cases are sometimes won or lost by expert testimony. By having solid expert witness testimony and hiring the right expert for your case, settlement might be reached earlier than anticipated, which is why it’s wise to invest in an expert that’s qualified and experienced.
Michael F. Richards has given expert witness testimony in 27 states and 79 cases, for both plaintiffs and defendants. He has comprehensive experience writing expert witness reports that meet Federal Rule of Civil Procedure 26, and has testified in arbitration, along with Federal and state courts. Call him at 406-282-6079 or email him directly at email@example.com to discuss the details of your case.