Litigation costs a lot of money. In most cases, it is the cost that hinders the filing or continuance of litigation. Plaintiffs holding valid claims sometimes do not have the resources to initiate a lawsuit or to see one through to a favorable resolution.
Though it is considered illegal to provide financing for someone else’s lawsuit in the past, litigation financing is becoming a global trend that has been evolving for the last twenty years.
Litigation financing, also known as third-party funding or legal funding, is the process by which the third party provides a nonrecourse cash advance to the plaintiff to finance their litigation or other legal costs in exchange for a percentage share of the judgment or settlement. Litigation finance is commonly used to fund cases including commercial litigation, intellectual property disputes, personal injury cases, class actions, whistleblower suits, and even high-profile divorce cases. Simply, litigation finance can provide the cash a plaintiff needs to prevail in court.
Concerns over spiraling legal costs were a thing of the past and lawyers knew they would get paid regardless of the outcome. Justice is now guaranteed to be achieved by litigants who are financially challenged but has a very strong case.
It is for this reason, that www.ipdel.com (IPDEL) incorporated litigation financing in our platform to charge Intellectual Property Right Owners with zero-cost payment to address the problem of counterfeiting in the most effective, efficient, and practical way.