How can litigation finance help lawyers and their clients achieve business and litigation objectives? Who are the parties involved? What are the steps in the funding process? What are the various investment structures? What is the role of litigation finance firms in case strategy? What is the difference between consumer and commercial lawsuit funding? How can third-party funding promote access to justice?
Litigation Finance Basics
Litigation Finance Tier 1: Lake Whillans & GKC
Lee Drucker
Above The Law recently published its survey of client experiences with litigation finance firms, and we are happy to be one of only two firms considered ‘top tier’ among the litigation finance companies included in the survey. It is great to learn that ~80% of the companies that we have supported would unreservedly choose to work with us again. It is a solid starting point for our young company, but it is a number we will seek to improve upon as we grow.
Read MoreWelcome to Our Newest Team Member
Lee Drucker
We recently hired our first full-time employee, Marla Decker, and we could not be more excited to have her as part of the team. Without further introduction, here is Marla, on how she came to join Lake Whillans, her views on litigation finance and the legal industry.
Read MorePick the Right Lawyer for a Royalty Contract
Lee Drucker
Role play with me for a moment. Imagine you’re going in for surgery and you can choose between two surgeons: a doctor who performs that surgery twice a year, or one that does it twice a month?
It’s a no brainer. The same should apply to lawyers – particularly when it comes to the mission-critical task of negotiating royalty contracts. These key agreements will make or break a company. Plus, if things go bad between your company and other parties, these documents will be what separates losing millions (and sometimes more) and remaining intact.
Here are some ways to vet your attorneys to see which ones know enough about royalty agreements.
Read MoreDoing business with the DoD (then and now)
Lee Drucker
Small businesses face particular challenges when endeavoring to protect their patent rights and rights to technical data. The committee report noted instances where the DoD gave another contractor access to intellectual property so they could “reverse engineer”and manufacture a patented invention. If a contractor feels his or her invention has been used unlawfully, the contractor’s only recourse, according to the report, is to sue through U.S. Federal Court –an inordinately expensive and time-consuming process.
Read MorePanel Discussion on Protecting Your Company
Lee Drucker
I recently participated in a panel discussion at the Converge conference. It produced a discussion that I think can be useful for innovators in the life sciences space. MedCity News summarized the event here.
Read MoreProtecting Yourself as a Small Business Contractor with the Department of Defense
Lee Drucker
Fred Lisy is president of Orbital Research Inc., which conducts research on and product development of medical devices and military weapons technology. Founded in 1991, this small company of 16 employees has been contracting with the Department of Defense for more than 20 years, mainly with the U.S. Army, U.S. Navy and U.S. Air Force.
“You can’t be risk averse and work with DoD,” he says, which is one reason he maintains about 30 to 50 percent of company revenue in commercial as opposed to government ventures. That being said, he’s also quick to note the best way to protect one’s self as a small business is to keep learning and asking questions. The more you know, the safer you’ll be.
Read MoreLitigation Finance Interview for MedCity News
Lee Drucker
I was recently interviewed by MedCity News in anticipation of a panel that I will be speaking on at the Converge Conference (Philadelphia September 1 – 2).
“I would speculate that in some situations, the relationship turns into a numbers game. They plug in a number: “What happens if we build out this technology on our own, and what happens if we partner with the entrepreneurial company and own 30 percent?” If they determine it’s more profitable to build the technology on their own, then they disregard the contract and the law.”
Read MoreLitigation Finance in Context of WJP Rankings
Lee Drucker
Interesting article from The Hill discussing litigation finance in the context of the World Justice Project placing the U.S. 65th in its ranking of affordability and accessibility to its legal system.
Read MoreLitigation Finance for Boutique Law Firms
Lee Drucker
Several months ago I described how litigation finance can be used by entrepreneurial litigators at large law firms to build sustainable high-end litigation practices outside the traditional route of cultivating relationships with the largest corporations and their general counsel.
Many of the same challenges that I discussed facing young partners at large law firms manifest more acutely at emerging law firms trying to sustain and grow a business as they attract new clients, build brand awareness, manage salaries, and generally maintain operations.
Read MoreIs Litigation Finance Right for Your Client?
Lee Drucker
Litigation can get expensive, fast. Litigation finance is a funding tool many companies are considering to help cover the fees and expenses related to major legal claims. We at Lake Whillans Litigation Finance have compiled a list of questions to help you determine if your client is a candidate for litigation finance. Is litigation finance…
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