Monday, January 18, 2010

PaperChace Launches New Decision Tree Analysis Service for Mediation and Litigation

Funded with seed money and student loans, student entrepreneur changes the way litigated cases are handled.

Los Angeles, CA (PRWEB) January 18, 2010 -- Just months ago PaperChace was a pipe dream. Today, founded solely with seed money and student loans, Jacob Ruytenbeek launched PaperChace to change the way litigated cases are analyzed.

As a student at Pepperdine's Graziadio School of Business and Management, Jacob won seed money from the PaperChace by winning 2nd place at Pepperdine’s 2009 Business Plan Competition. Still short on cash, he bootstrapped the startup with what was left of his student loans as he sought high-profile mediators to contribute advice on building a world-class, easy-to-use product. When the site went live in December 2009, several of those mediators became our first paying customers.

The feedback PaperChace has received from the legal community is remarkable – they just love it!
PaperChace decision tree analysis is a tool for both mediators and litigators. PaperChace answers the question: Should I settle my case, or should I go to trial by applying decision tree analysis to the case at hand. PaperChace decision analysis tools are the first ever to offer a question-based decision tree engine.

PaperChace’s decision analysis tools use decision tree analysis techniques to estimate likely settlement values and provide attorneys and mediators with a complete profile of the risk in their cases. The benefit to a firm’s clients is the avoidance of large losses at trial, long-term wealth maximization, and a more transparent settlement analysis.

A recent study published in the Journal of Empirical Legal Studies found that 61% of plaintiffs made the wrong decision to go to trial, costing them $43,000 on average. Defendants made the wrong decision only 24% of the time but the cost was much greater, $1,140,000 on average. “PaperChace is a tool that helps clients make better decisions about when to try a case and when to settle. In that way, mediators can show their clients the upside and downside risks in a way that they understand. The feedback PaperChace has received from the legal community is remarkable – they just love it,” said Ruytenbeek.

PaperChace will serve litigation attorneys and mediators primarily in the areas of personal injury, insurance defense, construction, labor and employment, and business litigation. According to Mark Shipow, former Managing Partner of Holland & Knight, LLP, the nation's 4th largest law firm, “PaperChace is a valuable settlement tool for litigation. It makes the settlement valuation process much more transparent.”

Additionally, PaperChace is the only tool in its field to be delivered over the web from www.paperchace.com. PaperChace is offered as a pay-as-you-go service for only $19.99 per month, an affordable price point for most mediators and attorneys.

About PaperChace:
PaperChace is a decision tree analysis company for litigation and mediation professionals. PaperChace was founded by Jacob R. Ruytenbeek. The company is based in Los Angeles, CA.

Website: http://www.paperchace.com

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[Via Legal / Law]

Posted by prolink at 12:45 AM

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