defense costs model

A defense costs model estimates the expenses a company incurs when defending itself against legal claims or lawsuits. It considers factors like legal fees, expert witnesses, investigation expenses, and related costs. This model helps organizations predict potential financial exposure from legal disputes, manage budgets, and make informed decisions about risk mitigation. Essentially, it’s a tool that provides a structured way to understand and plan for the costs associated with legal defenses, ensuring that companies are prepared financially should legal action arise.