The 2023 Women Leaders in Consulting: Katie Prichard

Katie Prichard has nearly 15 years of experience in financial and economic consulting related to intellectual property matters and complex business litigation.

Katie has assisted clients on engagements involving patent and copyright infringement, breach of contract, misappropriation of trade secrets, tortious interference, fraud, various forms of negligence, and breach of fiduciary duty. She has worked with clients across various industries, including automotive, computer hardware, consumer products, e-commerce, electronics, energy and utility, handheld mobile devices, health sciences, insurance, internet services, medical devices, networking, oil and gas, semiconductors, software and telecommunications, among others.

Prior to joining StoneTurn, Katie was with an oil and gas industry leader, where she served as the Stock Options Projects Coordinator. There, she developed innovative programs to enhance the company's human resources department, reaching out to over 126,000 employees working in more than 85 countries. Previously, she was with a global business advisory firm, where she assisted clients with in-depth analysis of large, disparate sets of financial, operational and transactional data.

Katie is a Certified Fraud Examiner (CFE). She currently serves as President of the Houston BARC Foundation Board, a nonprofit with which she has worked since 2015.

What do you consider your greatest personal or professional achievement?

When my son, Alexander, was unexpectedly born 10 weeks early and required a four-month-long hospital stay, neither I nor my firm had experience with how to handle such a life event. I wanted to spend every minute I could with him, but his medical team gently let me know I also needed to take care of myself, which meant keeping my mind active and feel productive and accomplished. Working together with HR and the partners in my office, we set up a temporary part-time working commitment. My revised schedule allowed me to balance priorities properly; I had weekly in person check-ins with my colleagues, worked from the hospital, and most importantly, enjoyed loads of time with my new baby. I was able to help with his first bath, to celebrate each pound he gained, and to advocate for him when needed. I also held him every second that I could.

I consider this a personal achievement because, as of today, Alexander is a happy and healthy freckle-faced 4-year-old who loves to tell jokes and hold my hand as he falls asleep. I also consider this a professional achievement because one of the most trying times of my life also reinforced the connection that I had with my firm. Knowing that my job was secure and that I had the support of my colleagues meant everything. I truly learned and lived the people-first culture of my firm and will forever feel grateful to work where I do.

What's the best advice—consulting or otherwise—you've ever received?

Trust my instincts and to do the right thing, even when that means taking a more difficult path. Our instincts provide a valuable spark that can lead us in the best direction. In my role as a damages expert, I interpret and analyze the values of intellectual property when there is not an apparent answer, so there is often a "gray area" with room for interpretation. As we dig through discovery searching for indicators of value, we have to trust our intuition if we think a "clue" is found, thoroughly research, investigate, and analyze that clue until we determine how it affects our analysis. This process is not easy or quick, but results in a damages opinion that is thoroughly vetted and can stand up well in the court system.

As an additional example, while on vacation in Belize after an extremely busy work period, I received an email that two colleagues put in their notice on the same day. We all know that people move on from firms, but nonetheless, this was personally jarring. My immediate instinct was to reach out by phone to each member of my team to talk about how they felt about the departures, what they thought caused the departures, and any other concerns. This was time-consuming and not how I envisioned my vacation, but my instinct told me that immediate communication was needed to alleviate the bad news, and I still believe that it was the appropriate thing to do.

What advice would you give to a female consultant just beginning her career?

Spend the first five years killing it. Take notes. Study. Say yes to any opportunity coming your way, from helping to plan the office Christmas party to working a weekend to help your team get over the finish line. Perform daily tasks with a detail-oriented mindset, making sure you are thorough and correct before submitting. Find a good mentor who you professionally admire and check in with them at least monthly. Master the skillset expected of you, and then start performing at the next level. Work hard, work effectively and minimize complaints. Make work your No. 1 priority.

Spend the next five years focusing on a specialty you are good at. Use the knowledge that you accumulated to work more efficiently with a narrower scope, allowing for a bit more time in your day to integrate other things that are important or bring you joy, like a significant other, physical and mental health exercises, and travel. Advise and mentor new colleagues who join your team. Really listen to their concerns and help them learn new skills. Keep up to date on the things happening in your industry by attending conferences, lectures and reading well-respected periodicals. Make a conscious effort to network.

Eventually, you could be seen as an expert in your field. Use this time to work even more efficiently, keeping in mind that your personal life, family and friends are important too. Allocate your time wisely. Gain balance across your life and enjoy the success that you've achieved.

What does this recognition mean to you?

As a consultant in IP litigation, I am always looking for potential errors or weaknesses, even in my own work so I can correct them and minimize any potential risk of damage to the perception that I am an expert in my field. Further, if I know the errors and weaknesses within my work, I am better prepared to address them when asked. I also seek out errors and weaknesses in the opinions of opposing experts because bringing those to light in front of a judge or jury makes them seem less reliable and credible, thus further assisting my clients.

Because so much of my working day is spent looking for errors and weaknesses and criticizing opposing parties, I have often turned too critical an eye upon myself. I am currently getting an MBA in leadership, and I find myself constantly comparing my professional leadership styles with those I am being academically taught. The program encouraged me to evaluate the effectiveness of my style, which is constructive, but my critical mindset cannot help but regularly wonder if I am doing enough for those I have the honor of mentoring.

Simply being nominated has already provided me with much-needed validation about being a successful mentor. My MBA program taught me an effective leader is always learning and growing. Earning this recognition sets that bar even higher, allowing me to accept that I am, in fact, providing my mentees with value, and I should continue striving to always be better.