Civil lawsuits can be long and onerous for both the plaintiff and the defendant. A large number of resources must be allocated to a lawsuit before it is fully resolved. The financial burden on stakeholders can even lead them to bankruptcy. It is estimated that over forty million civil lawsuits are filed in the United States each year. Business-to-business and individual lawsuits are also on the rise. Frivolous lawsuits can be damaging to a business, especially when it is in its infancy. The fees charged by the lawyer can drain an individual’s pocket if they are not financially stable. Although personal loans can be taken out through a mortgage, it is very risky for the plaintiff to avail themselves of them, due to the volatile nature of the lawsuits. In jury trials, which are popular in the United States under the Seventh Amendment, the outcome is highly likely to be against your favor. In circumstances like these, third party prosecution funding agencies assess the merits of the case and provide financial assistance during the trial. Lawsuit financing is increasingly popular in countries like US and UK which is leading to the growth of the global lawsuit financing market.
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Commercial lawsuit funding is used by companies to fund various business-to-business lawsuits. Arizona-based Pravati Capital is focused on providing legal capital to large corporations. Their clients consist of several Fortune 500 companies. The company is funding a US $ 20 million business lawsuit. Capital can be obtained on a case-by-case basis or on a portfolio basis. Litigation funding is legal in countries like the US, UK and South Africa. In the UK, the Association of Litigation Funders (ALF) is responsible for ensuring that litigation funding respects the rule of law prescribed in UK regulations which promote litigation funding coupled with the growing acceptance of funding litigation due to its reduced risk to the plaintiff, which is further expected to drive the growth of the global lawsuit financing market.
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Main conclusions of the report:
In terms of revenue, the global lawsuit financing market is expected to reach US $ 4,120.70 million by 2027 due to the growing awareness among plaintiffs about the availability of litigation financing solutions.
Based on the type of litigation financing, commercial litigation accounted for the highest share prosecution financing market in 2018, due to the higher denominations associated with inter-company settlements.
With regard to geography, the Asia-Pacific region is expected to show the maximum growth during the forecast period, owing to favorable government regulations that support the funding of lawsuits.
Some of the players operating in the lawsuit financing market are Bentham Capital LLC, Argenta Legal Funding, Fair Rate Funding, High Rise Financial, Oasis Legal Finance Group, LLC, Fast Funds, Vannin Capital PCC, Law Finance Group LLC, Law Finance Group LLC, LawCash, Lawsuit Financial LLC, Legalist, Inc., Global Funding Solutions LLC, Harbor Litigation Funding Limited, Pravati Capital LLC, and Burford Capital Ltd., among others.
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Global Lawsuit Financing Market:
By type of litigation financing
Financing of consumer disputes
Financing of commercial disputes
By end user
Small and medium enterprises
By type of case
Funding of collective actions
Financing of labor lawsuits
Funding of medical malpractice lawsuits
Funding of bodily injury lawsuits
Funding for workers’ compensation claims
The rest of europe
South East Asia
Rest of Southeast Asia
Rest of Asia-Pacific
Rest of Latin America
Middle East and Africa
United Arab Emirates
Rest of the Middle East and Africa
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