Profile of Cornerstone Research

Cornerstone Research serves clients across a broad array of industries, reflecting the widespread need for economic analysis in different business sectors. The firm’s case experience spans both traditional industries and emerging sectors, including:

• Financial Services: Banks, investment firms, insurance companies, hedge funds, and fintech companies. (For example, analyzing matters involving banking practices, securities trading, credit ratings, cryptocurrency exchanges, and other financial markets.)
• Healthcare and Life Sciences: Hospitals, health systems, insurers, pharmaceutical companies, biotech firms, and medical device manufacturers. (Cases might involve patent disputes over drugs, antitrust issues in hospital mergers, or analysis of healthcare fraud and reimbursement claims.)
• Technology and Telecommunications: Software and hardware companies, internet platforms, semiconductor firms, and telecom providers. (Cornerstone works on technology antitrust cases, IP litigation over tech patents, class actions involving data privacy or cybersecurity breaches, and valuation of tech startups, among others.)
• Energy and Commodities: Oil & gas corporations, electricity utilities, renewable energy firms, mining companies, and commodity trading businesses. (This includes disputes like breach of energy supply contracts, allegations of market manipulation in electricity or oil markets, and environmental liability assessments in mining or drilling operations.)
• Pharmaceuticals and Biotechnology: Drug manufacturers and biotech startups, often overlapping with life sciences. (Typical matters include patent infringement litigation over blockbuster drugs, analysis of competition and generic drug entry, and calculation of lost profits or reasonable royalties in pharma IP cases.)
• Media and Entertainment: Media conglomerates, entertainment studios, publishers, and telecom/streaming companies. (Cornerstone has worked on cases involving film and music copyright damages, antitrust issues in media mergers, valuation of entertainment assets, and disputes in advertising markets.)
• Retail and Consumer Products: Major retailers, e-commerce companies, food and beverage companies, and consumer goods manufacturers. (For example, class actions alleging consumer fraud or false advertising, product liability economic impact analyses, and antitrust cases in retail distribution.)
• Automotive and Transportation: Auto manufacturers and suppliers, airlines, shipping and logistics firms. (Cases include auto parts antitrust conspiracies, analysis of airline mergers, and economic damages in shipping contract disputes.)
• Real Estate and Construction: Real estate investment trusts (REITs), construction firms, and developers. (Disputes over property valuations, construction delay damages, or real estate finance issues involve Cornerstone’s analysis.)
• Telecommunications, Media & Digital Economy: (This overlaps technology and media, but worth noting) Telecom carriers, mobile phone companies, internet service providers, and digital platform companies. (Matters like spectrum license valuation, net neutrality regulatory analysis, and competition in digital advertising markets are examples.)

(Note: Many of these sectors overlap; for instance, a case may involve both technology and finance, such as a dispute in cryptocurrency markets. Cornerstone Research’s multidisciplinary team is equipped to handle the complexities at these intersections.)

Across all these industries, Cornerstone Research tailors its approach to the specific business context. The firm’s consultants develop deep industry knowledge by working with expert witnesses who are often academics or industry veterans specializing in that sector. This ensures that their analyses account for industry-specific factors — whether it’s the regulatory environment of banking, the R&D cycle in pharmaceuticals, or the supply chain economics of energy. As a result, Cornerstone has become a trusted advisor to top law firms and corporations in industries ranging from Wall Street finance to Silicon Valley tech.

Cornerstone Research is distinguished by its rigorous consulting methodologies and its close integration of academic expertise into client engagements. The firm’s approach to analysis is empirical, data-intensive, and highly collaborative. Key elements of Cornerstone’s methodology include:

• Academic Affiliates Network: A hallmark of Cornerstone Research’s model is its extensive network of academic affiliates. The firm works with leading professors and industry experts in economics, finance, accounting, marketing, and related fields. These outside experts often serve as the testifying expert witnesses in cases, providing authoritative opinions backed by Cornerstone’s analytic support. From the beginning, the founders cultivated relationships with renowned academics to fill the role of expert witnesses; this has grown into a roster of hundreds of affiliated experts (including prominent economists, Nobel laureates, former regulators, and top b-school professors). Cornerstone Research matches the appropriate expert to each case based on subject matter, and then partners with that expert throughout the litigation process. This collaboration ensures that the latest scholarly research and advanced theories inform every analysis the firm produces. It also lends credibility to their work, as academic experts bring independent reputations and often help develop innovative methodologies for the case.
• Empirical Analysis and Econometrics: Cornerstone’s consulting work heavily emphasizes empirical analysis – gathering data and using quantitative methods to derive objective insights. The staff are highly skilled in econometric modeling, statistical analysis, and financial modeling. In practice, this means they might run regression analyses to isolate the effect of a certain event on a stock’s price, use econometric techniques to define relevant markets and calculate market power in an antitrust case, or build discounted cash flow models to value a business in a damages assessment. The firm’s consultants often have advanced degrees (Master’s or Ph.D.) in economics or related disciplines, ensuring they can apply complex analytical techniques correctly. Cornerstone also stays at the cutting edge of analytic methods: for instance, it has a Data Science Center that explores big data tools, machine learning, and AI to handle increasingly large datasets (such as millions of transactions or communications in a litigation matter). In recent cases, they have used natural language processing and machine learning to efficiently analyze document sets for evidence, showcasing an innovative blend of technology with traditional econometrics.
• Expert Witness Support and Litigation Preparation: Another core aspect of Cornerstone Research’s methodology is the full-service support it provides through all phases of litigation or regulatory proceedings. The firm doesn’t just crunch numbers in isolation; it works hand-in-hand with attorneys to integrate economic analysis into legal strategy. Consultants help prepare expert witness reports, ensuring that complex economic concepts are clearly explained and rigorously supported by evidence. They anticipate questions that might arise in deposition or cross-examination and arm the expert with robust answers, often by conducting sensitivity analyses or additional research. Cornerstone teams also assist with deposition prep and trial demonstratives – creating charts, graphs, and other visuals to communicate findings effectively to judges and juries. By the time an expert takes the stand, Cornerstone’s behind-the-scenes work has refined the opinions and backed them with solid empirical results. Moreover, Cornerstone consultants themselves sometimes serve as experts in their own right (particularly in specialized financial analyses), or provide affidavits in regulatory matters. In summary, the firm’s role can encompass everything from initial data gathering and strategy formulation, to the final preparation of an expert for courtroom testimony.
• Collaborative Case Team Model: Internally, Cornerstone Research employs a team-based approach that mixes different levels of consultants and often multiple experts. A typical case team might include a testifying academic expert, a senior Cornerstone consultant (Principal or Senior Manager) who directs the analytical work, mid-level consultants and Associates who oversee day-to-day analysis, and a group of Analysts who handle data processing and modeling tasks. This structure is deliberately flat and collaborative: junior staff are encouraged to contribute ideas, and senior staff are very hands-on in mentoring analysts and ensuring analysis quality. Unlike some traditional strategy consulting firms where an individual might focus on one project at a time, Cornerstone’s analysts often juggle multiple cases at once. This multi-engagement model is possible because litigation cases can span months or years, with bursts of activity. It also provides staff with exposure to different types of cases and industries simultaneously, accelerating their learning. Throughout a project, the team rigorously peer-reviews each other’s work (for example, code and calculations are double-checked, findings are debated internally) to uphold accuracy. The firm’s dedication to quality control is a key part of its methodology, given the high-stakes nature of the litigation they support.
• Data-Driven Insights and Objectivity: Cornerstone Research is careful to maintain objectivity and credibility in all its analyses. Consulting in litigation can be adversarial, but the firm prides itself on objective, unbiased analysis rather than advocacy. The core values established by the founders stress that analyses must be fact-based and able to withstand scrutiny. To achieve this, Cornerstone consultants design analyses that are transparent and reproducible – documenting their data sources, analytical steps, and assumptions. They often perform multiple approaches to cross-verify results. For instance, in estimating damages, they might use both a market benchmark comparison and a regression-based approach and check if the outcomes align. This empirical rigor ensures that when their affiliated experts testify, the opinions hold up under cross-examination. The firm’s reputation for thorough, careful analysis is one reason its work is frequently cited by courts and regulators.

In essence, Cornerstone Research’s consulting methodology combines academic excellence, quantitative prowess, and practical legal experience. By bridging the gap between academia and the courtroom, the firm is able to provide analyses that are theoretically sound and legally relevant. Its systematic approach to problem-solving – gather reliable data, apply appropriate economic models, and clearly communicate results – has made Cornerstone a trusted partner for attorneys facing complex economic questions. Whether it’s a billion-dollar securities trial or a regulatory inquiry into tech competition, Cornerstone’s methodologies ensure a robust foundation for decision-making.