Trending Now

Therium Makes Case for Monetization of Corporate Litigation Assets in New Publication

Therium, a leading global provider of litigation, arbitration and specialty legal finance, is pleased to announce the launch of a new publication aimed at educating corporations and their legal departments on the importance of monetizing their litigation assets through structured affirmative recovery programs. A Good Offense: The Therium Guide to Creating an Affirmative Recovery Program, is available as a progressive eBook, beginning today with the release of chapter 1, which introduces the concept of affirmative recovery and delves into its history. New chapters will be released during the last week of each month moving forward.

The legal departments of the world’s corporations were created out of necessity. Legal has always been viewed as a cost center, defending potentially costly claims against the company as efficiently as it can, and ensuring that transactions and other contractual matters are structured properly. Legal departments, however, regularly bypass potentially valuable litigation claims because the financial and other risks required to monetize litigation assets are viewed as too steep. That was already the case in a strong economy, let alone the current downturn. COVID-19 and the subsequent economic downturn are causing corporations to lose value each day, leading to tighter budgets and greater pressure on all departments. At the same time, they must find revenue wherever they can.

“Corporate legal departments have the potential to become drivers of revenue if they can successfully monetize litigation claims,” said Eric Blinderman, CEO of Therium US and one of the publication’s co-authors. “In this economy it is more important than ever that they do just that. We developed this eBook to assist in-house counsel in identifying potential high-value claims and mitigating a broad range of internal and external risks as they formalize a program for initiating plaintiff-side litigation.”

After using the first chapter to lay the groundwork for the story of affirmative claims, future chapters will include:

  • Structuring an affirmative recovery program
  • Identifying claims
  • Selecting claims and managing risk
  • Financing litigation
  • Managing outside counsel
  • Making settlement decisions
  • Achieving buy-in (and maintaining it)

Chapter 1 Abstract 

In 2004, the legal department of E.I. du Point de Nemours and Co. launched an initiative to maximize its recoveries and contribute to the company’s bottom line. “When a certain amount is at stake,” DuPont’s then-assistant general counsel Tom Sager said, “we have an obligation as counsel to the company to pursue claims.”

To those outside the legal profession, this posture may sound unremarkable. But historically, recovering such funds has not been a priority. DuPont’s strategy changed all that. In 2004, its law department recovered $100 million for the company. Within a decade, it had recovered more than $2.6 billion. That figure is enough to establish the obvious benefit of a program like DuPont’s, known as “affirmative recovery programs.” And they have many additional advantages. Among them is the satisfaction of achieving the oft stated but rarely realized goal of making a legal department a profit center rather than a cost center.

Which raises an obvious question: why aren’t more companies following their lead?

In recent years, corporate legal departments have taken tentative steps toward adopting a more aggressive mindset. Three-quarters of the Fortune 500 have filed lawsuits as plaintiffs in what could be called “affirmative recovery” matters. But a much smaller portion of the Fortune 500 have created their own programs.

Complacency and tradition are the two most basic forces that have kept legal departments from asserting legal claims. Conventional wisdom has long held that it’s not the general counsel’s job to make money for the company. Instead, lawyers served the singular function of defending the company from legal risk. And the generally defensive orientation of in-house legal departments made a comfortable fit with the risk-averse nature of its lawyers.

Despite the forces keeping legal departments from bringing lawsuits, they have gradually begun to adopt a plaintiff’s mentality. We can trace the origins of the movement as far back as the 1980s, when a financial crisis led Texas Instruments and IBM to turn to their legal departments for patent licensing revenue. These and similar efforts revealed that legal departments could do more than protect companies from risk. They could become strategic actors generating meaningful revenue.

With the Great Recession of 2008, companies came under great pressure to reduce costs, and legal departments were no longer immune. The field of “legal operations,” devoted to imposing discipline on the spending of corporate legal departments, was born. Corporate legal budgets now needed defending, and previously untouchable decisions came under scrutiny. In short, corporate legal departments began to be judged on business terms. Today, the timing is right for another leap in the adoption of affirmative recovery programs. The impediments to bringing affirmative claims have largely eroded, and the riddle of funding affirmative cases has been addressed by the use of litigation funding. And the thirst for revenue from corporate legal departments has not been this palpable since the Great Recession.

About Therium

Therium is a leading global provider of litigation, arbitration and specialty legal finance active in England and Wales and internationally since 2009.  Over that period, Therium has funded claims with a total value exceeding £34 billion including many of the largest and most high profile funded cases.  The firm has investment teams in the UK, USA, Australia, Spain, Germany and Oslo, supplementing its resources in its corporate headquarters in Jersey, Channel Islands.

Therium has established a track record of success in litigation finance in all forms including single case litigation and arbitration funding, funding law firms and funding portfolios of litigation and arbitration claims.  This track record enabled the firm to raise the then single largest investment into litigation finance of £200 million in 2015. Therium has raised over $1 billion since its foundation, which includes the latest £325 million fund raised in February 2019.

Therium has consistently been at the forefront of innovation in litigation finance, pioneering the combined use of insurance tools alongside funding vehicles, and introducing portfolio funding products into the UK.  The firm’s ability to develop innovative funding arrangements and bespoke financial solutions for litigants and law firms complements its unmatched experience and rigorous approach to funding a wide range of commercial disputes throughout the world.

www.therium.com

Announcements

View All

New Burford Capital Research Reveals Significant Opportunities for Businesses Through Patent Monetization

By Harry Moran |

Burford Capital, the leading global finance and asset management firm focused on law, today releases new research on patent monetization, a means for businesses with significant intellectual property to generate revenue from patent assets through licensing, direct enforcement and corporate divestitures. With high research and development costs, long development timelines and intense IP competition, CFOs and GCs are faced with the challenge of seeking greater value from their companies' patent portfolios without diverting capital from core business operations. Moreover, converting underutilized intellectual property into liquid assets enables companies to fuel ongoing innovation and drive future growth.

Despite substantial investments in securing and maintaining patents, many companies fall short in leveraging their intellectual property—resulting in missed financial opportunities and ongoing costs that could otherwise be offset through monetization. This research shows companies shifting to a more proactive stance toward patent monetization as they face mounting economic pressures, rising costs of maintaining large patent portfolios and headline-generating enforcements and divestitures by major brands that increase acceptance. Nearly 70% of in-house lawyers say their organizations are more likely to monetize patents today than a decade ago, and 73% report that patent monetization revenue has grown over the last 10 years.

"Patent monetization remains a significantly underutilized asset for many businesses," said Christopher Bogart, CEO of Burford Capital. "Companies frequently hold valuable patents that require substantial investment to enforce, incurring significant expense—risk we routinely finance for clients. In today's climate of intensifying global competition and rapidly evolving IP enforcement landscapes, legal finance empowers companies to strengthen their patent monetization strategies and take a more proactive, value-driven approach to IP management."

"Companies have a significant opportunity to unlock value from their intellectual property," said Katharine Wolanyk, Managing Director at Burford Capital and head of its intellectual property and patent litigation finance division. "In conversations with CFOs and general counsel across industries, we frequently hear that patent portfolios are viewed as cost centers rather than assets, and this research substantiates that assertion. Legal finance offers a powerful solution by transforming underutilized IP assets into a source of liquidity that can fuel business priorities and allow companies to continue the essential cycle of innovation."

Key findings from the study include:

  • Companies are missing revenue opportunities: Even as patent monetization is increasing, 79% of in-house lawyers say that more than a quarter of their patent portfolio is underutilized. The costs of maintaining patents without monetization include lost revenue, delayed market entry and reduced market share.
  • Revenue generated by patent monetization is growing: 73% of in-house lawyers report that revenue from patent monetization has increased over the last 10 years and 69% of in-house lawyers say their organizations have become more likely to monetize patents in the past decade.
  • Divestiture is a fast-growing monetization strategy: 71% of in-house lawyers have already divested patents or are actively exploring divestiture options.
  • Clients can de-risk direct enforcement with finance: 72% of law firm lawyers cite the high cost of litigation as a deterrent to clients pursuing meritorious patent claims.
  • Legal finance plays a growing role in patent monetization: 59% of law firm lawyers say clients use legal finance for patent monetization; 51% of in-house lawyers say they are actively planning or exploring the use of legal finance to support patent enforcement and monetization going forward.
  • Global patent monetization is active: The US remains the top market for patent monetization due to strong enforcement mechanisms. The Unified Patent Court (UPC) is driving change in Europe, with 74% of in-house lawyers expecting increased enforcement in the region.

This research, commissioned by Burford and conducted by GLG, captures insights from 300 in-house IP counsel and law firm partners involved in patent litigation in North America, Europe and Asia.

The research report can be downloaded on Burford's website.

About Burford Capital

Burford Capital is the leading global finance and asset management firm focused on law. Its businesses include litigation finance and risk management, asset recovery, and a wide range of legal finance and advisory activities. Burford is publicly traded on the New York Stock Exchange (NYSE: BUR) and the London Stock Exchange (LSE: BUR), and works with companies and law firms around the world from its global network of offices.

For more information, please visit www.burfordcapital.com.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.

Court House Capital Appoints New CEO as Michelle Silvers Moves into Chairman Role

By Harry Moran |

Court House Capital is pleased to announce the appointment of Matt Hourn as its new Chief Executive Officer, effective 14 April 2025. This strategic leadership transition marks an exciting new chapter for the company as Michelle Silvers, who has served as CEO since 2020, steps into the role of Chairman of the Board. 

Michelle Silvers has been instrumental in Court House Capital’s growth, innovation, and performance since its inception. Her move into the Chairman position reflects the company's ongoing commitment to visionary leadership and long-term success. 

"Leading Court House Capital has been an incredible journey, and I am proud of what we've built. I look forward to continuing to support the company's future in a strategic capacity as Chairman." Michelle Silvers, Chairman, Court House Capital 

Incoming CEO Matt Hourn brings over 25 years of experience in commercial litigation and is cofounder of Court House Capital. His strong commercial insight and legal expertise, leadership capabilities, and innovative vision make him well-suited to drive the next phase of growth. 

"I am honoured to step into the role of CEO and build on the strong foundation Michelle has established," Matt Hourn, Chief Executive Officer, Court House Capital. 

This transition underscores the firm’s commitment to continuity and strategic evolution, positioning Court House Capital for sustained success. 

ABOUT COURT HOUSE CAPITAL 

Court House Capital is a leading litigation funder focused on cases in Australia and New Zealand. Led by industry founders, with Australian based capital, the team is renowned for expertise, agility and collaboration. courthousecapital.com.au 

IQuote Limited Strengthens Senior Leadership Team with New Director Appointment

By Harry Moran |

Manchester-based litigation finance firm IQuote Limited has bolstered its senior leadership team with the appointment of a new Director of Campaigns, reinforcing its commitment to expansion and innovation in the sector.

Stepping into the role is Katie Doherty, an experienced litigation finance specialist with a track record of driving growth and operational success. 

She has held senior positions at various law firms prior and has worked alongside IQuote CEO Craig Cornick for over 15 years across multiple roles.

Katie said she was both delighted and grateful for the opportunity and expressed a keen desire to get started as soon as possible. 

“It’s an incredibly exciting time for IQuote as we continue expanding our legal tech partnerships and investing in new opportunities,” Katie said.  “This is a fast-moving industry, and I’m looking forward to leading campaigns that will drive the firm’s next stage of growth.

“I can’t wait to get stuck in. IQuote has evolved massively in respect of its business offerings, the firms we are investing in, and the different campaigns we are now exploring. You have to be constantly thinking on your feet; there’s never a dull moment.”

Originally aspiring to become a solicitor, Doherty began her career in legal administration before transitioning into finance and business strategy.  She first collaborated with Craig in 2010, playing a key role in business operations, asset management, and claims handling. 

Katie thanked her team at IQuote for all their help and support.

“They have all been fantastic, and I have so much admiration for Craig,” she said.

“For him nothing is impossible; if you say, ‘it can’t be done,’ he will immediately tell you that it can and how you can make it happen.”

Craig Cornick, CEO of IQuote Limited, said: “Katie has been instrumental in the success of multiple businesses I’ve led, and her ability to think strategically while keeping operations running smoothly is unmatched.

“She knows how to build and execute campaigns that deliver real results, and that’s exactly what we need as we continue to scale. Her expertise in litigation finance, combined with her hands-on leadership style, makes her a perfect fit for this role.

“She’s got an incredible work ethic also. From the very start, Katie has always been willing to roll up her sleeves and do whatever it takes to get the job done. 

“Whether it was managing complex operations or jumping in to solve unexpected challenges, she’s always been a problem-solver. That kind of determination is what sets her apart and why I’m confident she’ll drive real impact in this position.”