The History of Litigation Finance
The emergence of litigation finance in mainstream society over the last decade is built upon a rich history. With the invention of legal systems and processes, third party investment of issues related to law span centuries, and range across all continents. ValidityFinance.com profiled the history of ligation finance. Here are some highlights:
- Contingency litigation agreements have been the foundation of the industry. More or less, attorneys bear the responsibility of funding litigation with hope of winning and sharing rewards with the claimant.
- Pro-bono third party financing is a donor-based facility that is considered a highly respectable practice
- Informal solutions such as friends, family and/or associates serving as benefactors to fund litigation is the historical bread and butter of the industry. Paving the way for pro-bono and contingency marketplaces.