6 Prevalent Forms of Innovation in Big Law

A recent article in Bloomberg BNA listed “litigation funding” as one of the six prevalent forms of innovation in Big Law.

4. Funding litigation with outside investors: Some legal departments are turning to third-party funding for litigation matters. This allows legal departments with limited budgets the ability to litigate meritorious claims against adversaries with far greater resources. In return for their investment, the funders will expect a payment should the litigation be successful. In 2013, The Economist reported that the global market for outside funding of litigation is probably worth more than $1 billion, and only a very small portion of that is currently being funded.

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Note: Article is a summary of a white paper, created by Mitratech, a provider of legal and risk management software.