[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”3.22″ da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row admin_label=”row” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]Addition creates a new Economists practice to support continuing diversification and growth in US and international litigation consulting markets
ATLANTA, July 1, 2021 – Secretariat, the global expert services and litigation consulting firm, today announced the acquisition of Washington, DC based Economists Incorporated (Economists Inc), a premier consulting firm in microeconomics, law and economics, public policy, and business strategy. With the acquisition, Secretariat expands its offerings with the creation of a new Economic Analysis, Analytics & Strategy practice, welcoming more than 50 professionals.
Both Secretariat and Economists Inc are recognized and respected in the litigation consulting market for the highly specialized and complementary services the firms provide. The acquisition further diversifies Secretariat’s offerings and adds expertise in an important new practice line. The firm will invest in growing the practice’s team of industry leading economists both in the US and internationally.
“The complexity and pace of change in today’s disputes and litigation landscape is immense. For a firm like Secretariat this means growing our capabilities becomes even more important. We have been looking to expand into economic consulting and advisory services – and I’m thrilled to say welcoming EI into the Secretariat family couldn’t be a better fit,” says Secretariat Managing Director Don Harvey. “The depth of expertise and quality the Economists Inc team brings is second to none. And, perhaps most importantly, when we had a chance to look closely and see how our teams would work together, the similarities in culture and shared values became obvious.”
Since its founding in 1981 in Washington, DC, Economists Inc has been engaged on numerous high-profile litigation matters and economic consulting assignments. Today, Economists Inc provides industry-leading expert testimony and consulting services in high-stakes engagements across numerous areas of expertise, including M&A, antitrust, labor and employment, spectrum auctions, energy regulation, and commercial litigation, among others. The firm is regularly engaged by AmLaw 200 law firms, Fortune 500 companies and global corporations from nearly all industries, government agencies, and trade associations in prominent, multi-billion-dollar matters. Many of the firm’s economists earned their Ph.D’s from the most notable universities in the world of economics, including MIT, Harvard, Princeton, Stanford, U.C. Berkeley, Yale, and the University of Chicago. The Economists Inc acquisition will expand Secretariat’s key Washington, DC office and add new offices in San Francisco, CA and Tallahassee, FL.
“The opportunity to join a firm with Secretariat’s impeccable reputation and caliber of talent does not present itself often,” says Economists Inc President and CEO Jonathan Walker. “As we looked at ways to elevate our service capabilities, expanding our international reach and accelerating our recruitment efforts were foremost in our minds. The benefits of bringing Secretariat’s and EI’s services together became evident right from the start of our conversations. The combination will open new doors for EI professionals in areas like international arbitration and it will bolster Secretariat’s presence in the domestic US litigation market.”
Effective immediately, Mr. Walker and the Economists Inc Principals will serve as Secretariat Managing Directors in its Economists practice.
ABOUT SECRETARIAT
Secretariat is a leading global independent expert services and litigation consulting firm. The firm serves a wide range of international clients, specializing in international arbitration and litigation; economic damages; valuations; forensic accounting; government contracting; and large-scale construction disputes with a focus on delay and quantum analysis. Headquartered in Atlanta, Secretariat operates from multiple offices across North America, Europe, Australia, Asia and the Middle East. The firm has earned several distinctions, including the number two ranking in Global Arbitration Review’s prestigious GAR 100 Expert Witness Firms’ Power Index and “A Best Firms to Work For” from Consulting magazine. For more information, visit secretariat-intl.com, connect with us on LinkedIn, or contact us at info@secretariat-intl.com.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
Intensity continues to expand the leadership team with the addition of Dr. Stan Panis. Dr. Panis brings over 20 years of expertise in healthcare, pensions, employment, big data, and damage calculations to the firm.
Intensity joined Secretariat on February 1, 2023.
Intensity, LLC, an economic consulting firm known for influential research and in-depth analysis, announced today the hire of Managing Director Dr. Stan Panis, based in Los Angeles, CA.
Dr. Panis is an economist and statistician with deep expertise that will augment Intensity’s strong credentials in healthcare, pensions, big data, and damage calculations. He has been retained by leading law firms and U.S. government agencies, and has served as an expert witness in healthcare, labor, and class action cases.
“It is my pleasure to join the Intensity organization,” Dr. Panis said, “Intensity has a fantastic team of economists and analysts. I am excited about the sophisticated support team that Intensity has built and which aims to result in the best work product possible.”
Patrick Sanders, CEO of Intensity, expressed enthusiasm for the new expertise that Dr. Panis adds to Intensity’s service offerings. The new position aligns with the company’s growth strategy of expanding service offerings while preserving exceptional service and outstanding work product values.
“As far as experts are concerned, Stan brings a unique perspective to our firm. His deep experience studying healthcare and pensions for attorneys and federal agencies, paired with his extensive statistician work, make him a tremendous asset to our expert offerings. I am looking forward to what he and the Intensity team will accomplish together.”
Prior to joining Intensity, Dr. Panis was a principal with Advanced Analytical Consulting Group and a Senior Manager with the Economic and Statistical Consulting group at Deloitte. He served nearly two decades with The RAND Corporation, most recently as Senior Economist. Dr. Panis co-founded and led EconWare, a successful company that developed statistical software to disentangle causality, reverse causality, and selection effects in economic models. He also served as faculty at the University of Southern California and the University of California at Irvine, teaching undergraduate and graduate statistics, econometrics, and economics courses.
Dr. Panis has published more than 20 books and articles in the Journal of Health Economics, Journal of Public Economics, Journal of Human Resources, Medical Care, Health Affairs, Health Policy Research, and many other professional journals.
Dr. Panis earned an M.A. and a B.A in Economics from the University of Groningen in the Netherlands. In addition, he earned his Doctor of Philosophy in Economics from the University of Southern California.
Intensity joined Secretariat on February 1, 2023.
The $33 billion toy business relies on intellectual property, whether that means licensing agreements for big-screen movie characters or an obscure inventor’s idea for the next Rubik’s Cube.
Unfortunately, where there is intellectual property, there are also disputes over who owns it and how much it is worth. Intensity’s new managing director, Jennifer Vanderhart, brings years of experience in the trenches of the toy wars to evaluate claims over misappropriated intellectual property, contract disputes, and the true value of this season’s must-have plaything.
“I find the toy industry to be both fun and dynamic. It routinely offers me the opportunity to bring a strong economic perspective to complex disputes. I am excited to work with Intensity’s team of highly skilled economists and to continue to grow Intensity’s presence in the industry.”
— Dr. Jennifer Vanderhart
A Ph.D. economist who studied and taught at Texas A&M, Dr. Vanderhart has more than 20 years’ experience evaluating economic damages as well as helping clients negotiate license and royalty agreements. These agreements are crucial in the toy industry, which depends on a constant flow of new ideas to entice children with the next generation of Nerf Blasters, Play-Doh, and Rainbow Looms.
Much of the content the toy industry depends upon comes from film studios and publishers who license their characters to toymakers in exchange for royalty revenue. Sometimes there are disagreements over this valuable intellectual property, leading to disputes like when Hasbro sued DC Comics to block sales of Mattel dolls and Lego sets featuring an action figure named Bumblebee.
Both companies claimed rights to the name, DC Comics having called a female superhero Bumblebee starting in 1976 and Hasbro having created a Transformers character named Bumblebee and trademarked the name for use in consumer goods in 2015. The Hasbro toy line spawned a multibillion-dollar movie franchise, with one of the most popular being Michael Bay’s Bumblebee released in December 2018.
The Hasbro/DC Comics case ultimately settled, but expert opinions were critical both in pretrial preparation and in settlement negotiations as the companies fought over who owned the intellectual property at the heart of the dispute and what it was worth.
Big toy manufacturers also face frequent challenges from inventors who submit ideas by the thousands, hoping that they have come up with the next Monopoly, Slinky, or Super Soaker. While the toy industry relies on these outside inventors for many of their successful products, manufacturers also must defend themselves against lawsuits over ideas they had already independently developed.
With expertise in applied econometrics and microeconomic analysis, Dr. Vanderhart has helped clients determine the value of the intellectual property embodied in a toy. Disputes over royalty payments, inventor claims, patent disputes, and copyright violations, among others, require detailed economic calculations to determine the correct amount of damages.
The toy business is highly seasonal and often driven by short-term trends, complicating the task of estimating how many units will sell or what a licensing agreement is worth. For every Monopoly offering a seemingly endless stream of annuity payments, there are hundreds of Pet Rocks that soon will be worth less than the cost of shipping.
Expert economists must consider these and other factors before providing an opinion about the value of the intellectual property underlying a disputed toy or toy idea.
Before joining Intensity, Dr. Vanderhart founded and led the IP Practice at Analytics Research Group. She has also held positions at several economic consulting firms and was an instructor at Texas A&M University in the Economics and Management departments. She has published on the subjects of valuation, damages, and intellectual property and frequently speaks on these topics at conferences and lectures. Her diverse client list has included Hasbro, American Mensa, Tristar Products, Under Armour, Samsung, Barilla, and others.
Dr. Vanderhart is a member of the American Economic Association, the American Society of International Law, and the Licensing Executives Society of which she is vice-chair for the D.C. Chapter. She is also an associate member of the American Bar Association, where she chairs the Intellectual Property Litigation subcommittee of the Commercial and Business Litigation Committee.
We are excited to announce our expansion into India, welcoming economic damages and valuations expert Mrinal Jain as a director based in Mumbai.
“India has been a key component of our strategic growth plan for some time,” says Managing Director Don Harvey. “Adding Mrinal augments our existing strategy of actively participating in the growing Singapore-India corridor. With a local presence in India, we look forward to sharing our global best practices in expert witness services to Indian corporates and law firms.”
Managing Director Howard N Rosen, CPA, CA, CBV notes, “It is rare you have the opportunity to collaborate with a professional of Mrinal’s caliber and global perspective. I am excited to work with him as we grow our economic damages and valuations capabilities, not just in India, but across the Asia Pacific region.”
Mrinal brings with him almost 15 years of experience in the areas of quantum, financial, economic, and valuation issues. Among his many accolades he is recognized as one of the leading expert witnesses in international arbitration in Who’s Who Legal’s Arbitration 2021, as well as being included in WWL’s Thought Leader Arbitration 2021 list.
Intensity joined Secretariat on February 1, 2023.
Intensity, LLC, an economic consulting firm generating influential research and in-depth analysis, announced today the key hire of Managing Director Jennifer Vanderhart, Ph.D., who joins the Intensity office in Washington, D.C.
Dr. Vanderhart is focused on providing economic consulting in high-stakes litigation cases. Dr. Vanderhart has more than 20 years of experience evaluating and quantifying economic damages, including claims arising from patent, copyright, and trademark infringement, trade secret misappropriation, contract disputes, employment discrimination, antitrust cases, FIFRA arbitrations, and claims of expropriation by foreign governments.
Her clients include companies in various industries and retail sectors, including toys, spirits, education, computer hardware and software, consumer goods, mining, tobacco, and financial services.
“It’s a very exciting time to join Intensity,” Dr. Vanderhart said, “It’s my pleasure to be part of the new office in Washington, D.C., and to be in the company of such a talented group of economists. The company has a fabulous support team with strong technical skills.”
Reflecting on the growth strategy for Intensity, CEO Patrick Sanders highlighted the strategic nature of Dr. Vanderhart’s new role as Managing Director.
“Not only do we have the fabulous expertise and robust background of litigation experience that Jennifer Vanderhart brings to our team, but she joins us in Washington, D.C. This is a critical region for the professional services we provide, and we are thrilled to offer an expert of Dr. Vanderhart’s caliber.”
Before joining Intensity, Dr. Vanderhart founded and led the IP Practice at Analytics Research Group. She has also held positions at several economic consulting firms and was an instructor at Texas A&M University in the Economics and Management departments. Dr. Vanderhart has published on valuation, damages, and intellectual property, and frequently speaks on these topics at conferences and lectures. She is a member of the American Economic Association, the American Society of International Law, and the Licensing Executives Society, of which she is vice-chair for the D.C. Chapter. She is also an associate member of the American Bar Association, where she chairs the Intellectual Property Litigation subcommittee.
Dr. Vanderhart earned her Ph.D. in Economics from Texas A&M University. She received her B.A. at Trinity University, majoring in Economics and Spanish, with a minor in Math. She is fluent in Spanish.
Intensity joined Secretariat on February 1, 2023.
Intensity today announced the acquisition of Eurekanomics, LLC, a leading economic consulting firm focused at the intersection of economics, finance, damages, and valuation. Based in the San Francisco Bay Area, the Eurekanomics team has partnered with Intensity to augment their focus on high-stakes litigation.
Patrick Sanders, CEO of Intensity, is pleased to welcome two additional Ph.D. professionals to the growing team. With a fourth service location outside of San Diego, Intensity continues to solidify its place as one of the nation’s premier economic advisory firms.
About the deal, Patrick Sanders said, “It has been such a privilege to welcome Dr. Mody and Dr. Schulz. They are truly a power couple in this business and, together with our Intensity team, deliver outstanding service and results to their clients. Plus, they are each a delight to work with. As we continue to focus on high-stakes litigation, I can’t wait to see what’s next for Intensity in this partnership.”
Nisha Mody, Ph.D., specializes in financial and economic consulting on intellectual property cases, business valuation cases, antitrust cases, and unfair business practices cases. She is an expert in applying economic methods to complex business disputes and is retained in cases requiring economic analyses, financial analyses, valuations, and damages-related analyses.
With more than 20 years of experience in consulting and economic research, Dr. Mody is well regarded among the most prestigious law firms for her expert testimony. Her economic analyses have been affirmed by the Federal Circuit in three matters. She has written approximately 100 reports and given deposition/trial testimony in over 60 matters. Dr. Mody has a Ph.D. in Political Economy and Public Policy from the University of Southern California and a B.A. in International Relations from Pomona College.
Evan Schulz, Ph.D., CFA, provides complex economic and financial analysis primarily for commercial disputes involving intellectual property. He has been retained as a damages expert in disputes involving patents, trademarks, breach of contract, as well as for securities litigation. He has prepared patent valuations to assist clients with out-licensing negotiations and has provided pre-filing damages analysis for antitrust matters. Dr. Schulz has over 15 years of experience and is often retained for intellectual property valuations for commercial infringement suits. He develops economic arguments in collaboration with testifying expert witnesses, attorneys, and corporate clients. He has drafted reports, rebutted opposing analyses, and prepared experts for deposition and trial.
Dr. Schulz earned his Ph.D. in International Relations at the University of Southern California with specialties in political economy and international security. He holds a B.A. in Political Science from the University of California at Berkeley.
Dr. Mody and Dr. Schulz will work closely with the Intensity team of highly qualified testifying experts, Ph.D. economists, and business analysts to assist attorneys with high-stakes litigation. Intensity provides exceptional expert services across the spectrum of litigation requirements. From straightforward cases to the most complex global disputes, Intensity’s experts have the credentials and experience to deliver rigorous analysis that withstands the test of cross-examination.
Dr. Ryan Sullivan provided trial testimony on behalf of VLSI Technology in patent litigation involving Intel’s microprocessors. Based upon the testimony of Dr. Sullivan, the jury awarded damages of $2.175 billion.
Secretariat worked with Irell & Manella on behalf of VLSI Technology in patent litigation involving two microprocessor patents. VLSI claimed that nearly one billion Intel computer processors infringe its patents. The technologies at issue provide power savings and performance improvements in microprocessors.
During its work, Secretariat conducted economic analysis and provided trial testimony to determine reasonable royalties for the alleged infringement by Intel. This included an assessment of the economic contribution of the patented technologies to Intel’s allegedly infringing products and analysis of the economic benefits from use of the patented technologies by Intel. As part of its work, Intensity evaluated all fifteen of the Georgia-Pacific factors.
Dr. Ryan Sullivan submitted a report and provided expert testimony at deposition and trial. After a six-day trial, the jury returned a verdict in favor of VLSI with a damages award that is consistent with Dr. Sullivan’s testimony. The jury awarded $1.5 billion for infringement of U.S. Patent No. 7,523,373 and $675 million for infringement of U.S. Patent No. 7,725,759. Total damages for infringement of the two patents is $2.175 billion, making it one of the largest jury verdicts for patent infringement in U.S. history.
Los Angeles Times coverage of the verdict can be found here. Law360 and Law.com coverage (subscriptions required) can be found here and here. In addition, Bloomberg Law coverage can be found here and here.
*Work performed by individuals while employed by Intensity, LLC. Intensity was acquired by Secretariat in February 2023.
Secretariat’s Michael Kling, P.E., J.D. and Tom Gaines authored “Damages in Construction Arbitration,” a chapter included in Global Arbitration Review’s prestigious and highly-referenced “Guide to Damages in International Arbitration.”
The publication helps all participants in the international arbitration community understand damages issues and improve their ability to communicate those issues more effectively to tribunals. The guide furthers the common objective of assisting arbitrators in rendering more accurate and well-reasoned awards on damages. This fourth edition incorporates updated chapters from various authors and contributions from new authors, including a chapter on damages issues in light of Covid-19.
Intensity’s team continues its growth trajectory in 2021 with the addition of Dr. Richard Manning. Dr. Manning brings over 25 years of expertise in biopharmaceutical and life science industries to the firm.
Intensity joined Secretariat on February 1, 2023.
Intensity, LLC, an economic consulting firm generating influential research and in-depth analysis, announced today the key hire of Managing Director Dr. Richard Manning, based in Washington, D.C.
Dr. Manning will work closely with key leadership members to augment Intensity’s strong credentials serving high-stakes litigation in the biopharmaceutical and life science industries. Dr. Manning’s experience includes testifying in U.S. District Court, the Delaware Court of Chancery, and the International Chamber of Commerce. He has served as a consulting expert and prepared reports on various matters in the biopharmaceutical and healthcare industries. His career includes 14 years as an executive at multinational pharmaceutical companies, where he led economic analysis and strategy development to shape practices related to emerging business-environment concerns.
“I am pleased to be part of such a unique team,” Dr. Manning said, “Intensity has outstanding economists, analysts with strong technical skills, and few – maybe more than a few! – fellow University of Chicago Ph.Ds. This is precisely where I want to be, and I am very much looking forward to what we will be able to accomplish together.”
Patrick Sanders, CEO of Intensity, is delighted to welcome Dr. Manning as the role aligns with his vision of providing additional subject-matter experts to the growing team while preserving exceptional service and outstanding work product values.
“Richard’s depth of knowledge in bioscience and pharma, and his impeccable reputation, is a fabulous addition to our team. We are thrilled for the expertise that he will provide to our clients – he offers the full package as an analyst, economist, researcher, and academic.”
Prior to joining Intensity, Dr. Manning was a partner with Bates White, an economic consulting firm offering analysis and expert testimony services to law firms, Fortune 500 companies, and government agencies. Previously, Dr. Manning was executive director at Merck & Co., Inc., and he was senior director at Pfizer, Inc. Also, he was a director in the Advisory Strategy Group at PricewaterhouseCoopers. And as an academic, Dr. Manning was a member of the economics department at Brigham Young University and a visiting faculty at the University of Chicago Graduate School of Business.
He holds a Bachelor of Arts degree in Economics from Brigham Young University. He received his Master of Arts and Doctor of Philosophy in Economics from the University of Chicago.
Secretariat Associate Director Gigi D’Souza investigates the impact of government action on foreign direct investments in the mining sector in an article for Mealey’s International Arbitration Report. Joining King & Spalding’s Harry Burnett, Enrique Molina and Joshua Wan as co-authors, the commentary examines economic markets’ reactions to restrictive government measures, the reasons underlying them, and subsequent steps investors might take in valuing investments following such measures.
Our Canadian team continues to earn acclaim for their high caliber work. Kudos to Managing Directors Howard N Rosen and Chris Milburn and Director Eddie Tobis for being named in Who’s Who Legal’s Mining 2021.
Intensity’s significant growth from 2020 continues into the new year with the addition of Dr. Steven Schwartz, Managing Director, who brings over 35 years of economic expertise to the firm.
Intensity joined Secretariat on February 1, 2023.
Intensity, LLC, an economic consulting firm generating influential research and in-depth analysis, announced today the critical hire of Managing Director Dr. Steven Schwartz.
As part of a continuing growth plan, Dr. Schwartz will work closely with the leadership team to assist attorneys with high-stakes litigation. Dr. Schwartz’s litigation experience includes antitrust and intellectual property cases in federal court, complex commercial disputes in federal and state courts, as well as arbitration. Dr. Schwartz has also testified before the U.S. International Trade Commission, the U.S. Tax Court, and state regulatory bodies.
“I am excited to be joining a gifted group of colleagues, all of whom have strong economic, technical, and general analytical skills,” said Schwartz. “I wanted to work with outstanding economists, peers with strong expertise, and for a company with eight experts and over 50% Ph.D. economists on staff, Intensity met every criterion.”
Patrick Sanders, CEO of Intensity, is pleased to welcome Dr. Schwartz as the role aligns with his vision to accelerate growth while preserving exceptional service and outstanding work product values.
“We are delighted to have an economist of Steve’s caliber on board. His ability to combine economic excellence and powerful research with business acumen is rare, and we are enthused to offer that to our clients.”
Dr. Schwartz was previously Vice President at Charles River Associates in Dallas, TX, and prior to that, he was Managing Director with Alvarez & Marsal Global Forensic and Dispute Services. Dr. Schwartz also spent over 20 years with NERA Economic Consulting.
He holds a Bachelor of Arts degree in Economics from Wesleyan University. He received his Masters of Arts and Doctor of Philosophy in Economics from the University of Maryland.