Jul 3, 2020
Go back 100 years and the law was against lawyers advertising and finding third parties to finance cases. Even contingent fees were scrutinized to dissuade lawyers from pursuing costly litigation. Though things changed in the 1980’s, lawyers still spend much of their time playing the role of peace maker as most cases cannot afford to go to litigation. Litigation finance is an explosive area right now as attorneys can spend years working on a case without receiving payment. Big law firms with an established track record can easily obtain a line of credit from the banks, but what if you are a small law firm? Venture capitalists have decentralized the way to invest into these programs by putting it on the web. Investors can choose from individual torts and loan money to law firms in return for a slice of the commission. Today Joe Cucchiara and Jack Russo discuss how the internet has opened a whole new way to finance litigation.
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