Litigation funding is on the rise, not because of outside financing pressure or third-party investment coercion. The fact of the matter is that this type of funding is a necessity for many law firms. Long drawn out legal battles may ultimately be very lucrative but in the meantime staying afloat under the heavy burden that this type of litigation puts on a firm can be catastrophic. The growth of litigation funding is directly proportionated to the need felt by clients and law firms’ a like to not give up because of funding issues.
Before Funding
In the days before this type of funding was available, the winning litigator did not necessarily depend on legalese to win, it was he who had the most money to invest in the case that won. Today, thanks to the possibility of financing, litigators that use to have to walk away from the battle can battle on because they have the funding to do so.
Not Just for Plaintiffs
There is a misconception that funding is only available for plaintiffs, while it is largely used for plaintiffs, it can also be used for defendant matters as well.
It’s a Viable Solution
Litigation funding has received both positive and critical reviews but ultimately the fact is that this option can be a viable solution for firms that want to take advantage of the available funds and:
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Want to control risk
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Even the playing field of resources
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Have an extra layer of support
For many firms’ litigation financing has been the variable that allowed them to see the case to fruition and ultimate victory. Having the funding available to avoid being “outspent” into a loss can be a huge game changer. Financing allows you to even the playing field when going up against very wealthy opponents. Choosing the right source means that you have the backing of a firm that do their own due diligence and may be able to “see” what you missed in the process.
A Good Option
This non-recourse financing option is not only for firms that “need” the cash flow, it is a good way to reduce risk to the firm. Bentham IMF is one of the most respected funding firms. You can get the money you need to not be out spent, reduce your risk and have great support. The fact is Bentham IMF can be the force behind your next big win.
