Trial lawyers frequently talk about the value of their cases when they are counseling clients' negotiating with opposing counsel, or conversing with their fellow attorneys. The term "value" may have several definitions when referring to cases, but most attorneys intend it to mean the amount at which they expect a case to settle. However, despite the frequency with which they speak of value, the subject remains cloaked with a miasma of lawyer folklore.
Peter Toll Hoffman,
Valuation of Cases for Settlement: Theory and Practice,
1991 J. Disp. Resol.
Available at: https://scholarship.law.missouri.edu/jdr/vol1991/iss1/5