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Understanding Litigation Funding: What You Need to Know
Litigation funding is when a company or person provides money to help pay for legal cases, so the person involved can focus on their case without worrying about the costs. If you're curious about how it works or if it's right for you, feel free to ask!
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What are the benefits of Litigation Funding?
Litigation funding provides financial support to plaintiffs involved in legal disputes, allowing them to pursue their claims without the burden of upfront legal costs. This funding can cover attorney fees, court costs, and other related expenses, enabling individuals and businesses to seek justice without the fear of financial ruin. It levels the playing field, particularly for those who may not have the resources to engage in lengthy litigation, thus promoting fair access to the legal system.
Access to justice
Risk mitigation
Financial flexibility
What are the different types of Litigation Funding?
Single-case Funding
Funding provided for a single lawsuit, usually to plaintiffs.
Portfolio Funding
Funding covers multiple cases from the same law firm or client portfolio.
Defense-side Funding
Funding provided to defendants to cover legal costs or risks.
What is Litigation Funding?
What is Litigation Funding?
Litigation funding is a financial arrangement where a third-party provides money to cover legal costs for a lawsuit. The funder is repaid only if the case is successful, making it a way for people or companies to pursue legal claims without paying upfront.
Types of Litigation Funding
There are several types of litigation funding, including single-case funding (for one lawsuit), portfolio funding (covering multiple cases for a law firm or client), and law firm funding (for broader operational needs). Funding can also be provided to plaintiffs or defendants.
Key Components of Funding Agreements
Litigation funding agreements usually specify the amount provided, repayment terms (how much the funder gets if the case wins), control provisions (if the funder can influence decisions), confidentiality rules, and how long the agreement lasts.
FAQ’S
What is litigation funding?
Who can apply for litigation funding?
What happens if I lose my case with litigation funding?
How do funders decide which cases to fund?
