1301 S. Capital of Texas Hwy
Building C, Suite 300
Austin, Texas 78746
Reid Collins & Tsai is a boutique trial firm that practices complex litigation nationally and internationally. Our trial attorneys include a team of former federal prosecutors, judicial law clerks, and forensic accountants who aggressively and efficiently maximize recoveries and resolve complicated disputes for our clients both in and out of the courtroom. Our practice spans a wide range of complex commercial litigation, including financial fraud matters, Ponzi scheme-related cases, cross-border disputes, and professional-liability matters. We represent trustees, liquidators, foreign governments, international banks, individuals, and companies from the U.S. and abroad in federal and state courts across the country.
Many clients turn to large law firms because they do not know there are better alternatives, and in some instances, they believe that only a big law firm can solve their complex business problems. Most of our lawyers began their careers at larger institutions, and we know firsthand the unavoidable consequences of growth: conflicts of interest, gross inefficiencies, and overall sluggishness. Other clients turn to boutique law firms who are trial lawyers or have expertise in a certain field – we offer both. Our partners have handled numerous jury trials and obtained successful judgments and settlements. And as former prosecutors and entrepreneurs with business backgrounds, we have substantial experience in the complex commercial cases that we prosecute.
We formed our firm in order to have the flexibility to bring cases that other law firms are typically conflicted out of – for example, cases against auditors, lawyers, banks, insurers, and Fortune 100 companies. Because we are not beholden to large institutional clients, we are able to prosecute high stakes cases against well heeled targets who frequently believe they are insulated from liability. As a result, we are always pitted against the biggest and most well respected law firms in the country. And we have the expertise and know how to investigate, analyze, and develop cutting-edge claims that others might not see or would turn down without a second thought. In fact, some of our most notable successes in recent years were achieved after other lawyers told our clients they had no claims. Based on our many years of experience litigating these complex business matters, we know how to investigate and analyze claims, we employ the best investigators and experts for each case, and we pride ourselves on being able to develop and bring cases that need to be prosecuted.
Our philosophy is to staff and run each case as if we were the client. We therefore think like our clients in making decisions on staffing and other expenditures. Whereas our competitors often have large cadres of associates who are focused on fee generation, our teams are dedicated to preparing our clients’ cases for trial. In short, whether our clients or our firm are taking on the risk, we run every case in a way to maximize our resources and efficiencies, and our clients will not be paying for our associates to do “busy work” in a down economy.
Reid Collins & Tsai is committed to using innovative fee arrangements. For many years, our attorneys have worked hand in hand with clients to create fair and common sense fee arrangements tailored to the particular facts and circumstances of each case. These fee arrangements may involve contingency fees, discounted hourly fees, flat fees, or a combination of some or all of these options. Whereas most firms apply a “one size fits all” model to every case, we understand that every case and therefore every fee structure is unique.
Although there are cases in which the standard hourly fee model is the best option, we have found our alternative fee approach to be in even greater demand in the current economic climate. In fact, we have found that clients are tired of the economic conflict of interest that arises between lawyer and client in the hourly fee context, and we strive to avoid it wherever possible. We also just find it more rewarding both economically and professionally to bet on our own skills and abilities and to share the risks and rewards with our clients in what are sometimes bet-the-company cases.
In some of our most complex cases, which often involve tens or hundreds of millions of dollars in damages, our clients want a full workup and analysis of their claims before deciding whether to file a lawsuit and what fee arrangement makes sense for them. In these instances, we typically charge a flat fee for a complete factual and legal analysis of the claims, which provides the client with the necessary information to choose how to proceed.
In other cases where we are defending our clients against claims or counterclaims, or where our clients want to retain all of the potential upside of a victory, an hourly fee arrangement makes the most sense. Of course, as with our plaintiff side cases, there are ways to craft an arrangement on the defense side that creates a shared risk among the firm and the client, such as a success fee based on the client’s potential exposure in the lawsuit.
No matter the type of case or which side of the docket, we work with our clients to create a fee arrangement that makes the most sense for them based on the particular facts and circumstances of the case. After all, we believe in our clients and our cases, and we think our fee arrangements should reflect this outlook.
Our firm also employs the use of settlement counsel on matters of significance. Settlement counsel is an outside lawyer who sole purpose and role is to facilitate an out-of-court resolution of a dispute. Occasionally, we serve as settlement counsel to others. Experience has shown that our role as an advocate is enhanced by limiting ourselves to a prosecutorial role. By carving out the negotiation function either to a lawyer outside our firm or a designated senior lawyer within the firm, who is skilled in conciliation, and whose job it is to cultivate settlement options and maintain an open dialogue, we optimize our clients’ settlement prospects and maximize the opportunities for resolution. All too often, parties suffer from what we call the “first-overture dilemma,” where, even though a settlement or business resolution is in both parties’ best interest, neither side is willing to initiate the negotiations for fear that taking the first step will be viewed as a sign of weakness.
The employment of settlement counsel facilitates resolution in a favorable range when the time is ripe, and this tactic also helps identify cases that will simply have to be tried. As settlement discussions evolve, if it becomes clear that a trial will be necessary, we as trial counsel remain focused on preparing and trying the case without distraction. This approach enhances our effectiveness as trial lawyers, particularly in the heat of the battle, and sends the appropriate signal to the opposing side that our efforts as trial counsel are dedicated to litigating the matter aggressively and proficiently while others attend to potential settlement scenarios.
Prior results do not guarantee a similar outcome
1301 S. Capital of Texas Hwy
Building C, Suite 300
Austin, Texas 78746
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Dallas, Texas 75201
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New York, New York 10019
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Washington, DC 20006