Why choose Expert Witness Exchange?
Because the value proposition and current methods available for conducting expert witness search are inadequate and have been for some time. The Exchange’s former CEO, Mindy Sungenis Black, came from and led the development of the custom search industry in her role as CEO of TASA.
Research has shown, that only 10% of attorneys seeking to retain expert witnesses will rely on expert witness brokerage services and a similar small percentage of attorneys, with implied overlap, will utilize one of the existing expert witness directories. That means that the vast majority of attorneys are looking for better alternatives to locate and retain expert witnesses. Hence, the need for a marketplace , free to attorneys just like Google searches are, was needed. A platform where no paid advertising is accepted from experts for positioning in search, and where search results may be filtered. Perhaps most important, a marketplace that has built in trust mechanisms that require the participating experts to have their backgrounds verified before retention and where more detail and audio visual assessment of how the expert communicates may occur. This is the early promise of the Exchange and a substantial reason for you to claim or create your profile, get validated and build out your profile completely if you are an expert. If you are an attorney, get ready for an expert search database utility, 33,000 expert profiles and counting, that will save you and your staff members time, and avoid commonly assessed commissions and hourly rate upcharges when selecting experts from non marketplace offerings.
What is the future of marketplace search via the Exchange’s marketplace?
Existing expert witness directories lack data driven curation necessary to adequately assist attorneys in delineating between different experts who may appear to have similar expertise. Many of the existing internet websites include only experts who are paying to be advertised and existing directories do not support a full audio visual assessment nor enable direct communication via the platform for added convenience. Much of what currently qualifies for custom expert witness referral its based on a consultive brokering model and can with the integration of data science and machine learning be platformed via a smart software interface. In the near future, the expert witness search experience may be improved with these and other artificial intelligence technologies while the transactional cost burden for expert retention substantially lowered.
What does the Expert Witness Validation Badge™ have to do with expert witness search?
Because a uniform background credentialing standard does not exist and is generally only haphazardly done currently. Attorneys, generally, are not in a good position to conduct due diligence assessments on their own. Impeachable content about a given expert’s background unfortunately continues to occur with some regularity. This negatively impacts the rights of the litigants involved and reflects badly on the judicial process.
The Expert Witness Validation Badge™ is a credential that establishes, to a high degree of certainty, that the credentialed expert witness is a valid participant in the judicial process. An internet based resource providing for the voluntary credentialing of expert witnesses is therefore both necessary and appropriate.
View the distinguished members of our Validation Badge Committee who recommended the criteria and rules which apply to this process.
What else does Expert Witness Exchange care about?
Expert Witness Exchange leadership cares about the legal profession and is intent upon democratizing tools that spread knowledge and transparency while rendering the process more efficient for all. Our aim is not only to profit those who participate on our platform or that do business with the Exchange, but to give back and support those that are impacted by the judicial system.
Expert Witness Exchange will support the initiatives of bar associations to democratize the availability of legal services, to support the important work and standard setting that many expert witness associations provide to their member experts and to be charitable to the victims of hardship. The Exchange will discuss this further when we reveal our revenue model publicly in the coming months.
May I terminate membership at any time?
We hate to see you go! However, you may terminate your account upon twenty-eight (28) days written notice to the Exchange. You agree that all expert witness service retentions that occur following your profile being reviewed by a law firm on the Exchange website are presumptively the result of your participation in the Exchange’s marketplace and therefore subject to the transaction fees for the entire engagement. It is expressly agreed that this provision applies to any expert witness retention that occurs between a member/former member and a law firm that has reviewed member’s profile within six (6) months’ notice to the Exchange of the member’s termination.
If your account is terminated for any reason, the following apply:
- All fees outstanding become due and payable;
- No fees will be refunded; and
- All transaction fees become due and payable from expert witness retentions that occur within six (6) months of the termination and were a result of the initial membership.
What does it cost?
The Exchange has a transaction fee of 15% on expert’s services rendered (excluding expenses), on all retentions. After an expert’s first retention or their first year with the Exchange, whichever comes first, the transaction fee will reduce to 12% with a $15 monthly maintenance fee. A portion of the maintenance fee will be applied to the annual Expert Witness Validation Badge™ renewal. You can find this information in our Terms and Marketplace Member Agreement link located on the marketplace registration page.
The Expert Witness Validation Badge™ is a separate cost which can be deferred until your first expert assignment. The initial cost is $450 with a $275 annual renewal fee. Click here for more information about the Expert Witness Validation Badge. If you complete the Expert Witness Validation Badge™ application and attestations, you will receive a pending status on your profile. Both a pending status and an active badge will move you up in the search results on the marketplace.
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