Both outside and in-house counsel are under increasing pressure to minimize attorneys' fees and costs, especially for litigation. Although it is difficult to predict when a lawsuit may arise, how long litigation may last, or how costly it may become, counsel can use early case assessment and budgeting tools to develop informed estimates of the costs of a lawsuit that does not settle early on, and to help prevent fees and costs from spiraling out of control.

In some cases, third-party litigation financing may offer an alternative method of reducing or eliminating legal fees and costs. Third-party financing (also commonly referred to as third-party funding, or alternative or external dispute financing) typically involves a non-party who pays for a party's legal fees and costs to pursue a lawsuit, in exchange for a portion of any proceeds that the party may receive through settlement or a judgment for damages.

This Litigation Budget Toolkit offers resources to help counsel: