Life Sciences Law Firm Index: Q1 2016 Lake Whillans published the inaugural Life Sciences Law Firm Index in January 2016 to help identify which law firms are the most active and relevant for life science companies. The index was created in collaboration with our research partners at Breaking Media, the publishers of leading industry sites…
Life Sciences Law Firm Index | Q2 Update The complex life cycle of a biotechnology product, pharmaceutical or medical device demands a broad range of legal expertise across many practice specialties. From intellectual property protection, to corporate and regulatory advice, the leading law firms in the life sciences space combine sophisticated legal counsel with deep…
I’ve definitely been involved in situations where new approaches, and particularly litigation finance, would have helped to level the playing field against a well-resourced opponent. Without getting into specifics, our firm has represented bankruptcy estates where a major asset was a litigation against well-heeled defendants. A significant part of the defendants’ litigation strategy was a scorched-earth tactic designed to prolong the litigation, with the knowledge that the bankruptcy estate had a finite and shrinking pool of funds, to pressure the bankruptcy estates and creditors to accept a less attractive settlement of meritorious claims. Litigation funding could certainly have helped to shift the leverage and not allow the costs of litigation to become a barrier to obtaining the right result.
Life Sciences Law Firm Index Life Sciences Law Firm Index | Q2 Update The Top 10 Corporate FirmsRankings Discover the leading corporate law firms for life science companies in the second quarter update of the Life Sciences Law Firm Index. In collaboration Breaking Media, Lake Whillans examined public and private financings, IPOs and M&A activity…
In mature industries, there is usually a set of rules outlining best practices for individuals and organizations. In newly developing industries, however, best practices are less clear, and once established spread more slowly. In order to promote the development of best practices in litigation finance, we recently identified key aspects of a funding arrangement that we believe will lead to the best results for a claimholder. Companies considering a litigation financing offer should consider the following principles and their importance:
More than five years after a small family-owned company based in England filed suit against U.S. construction machinery giant Caterpillar Inc. for breach of contract and trade secret misappropriation of its “Bug coupler” technology (specialized equipment used with hydraulic excavators), the journey has paid off. In December, after an eight-week trial, a jury awarded plaintiff Miller UK Ltd. (“Miller”) $74.6 million in damages (including $49.7 million in exemplary damages); an award that Miller’s attorneys contend is the largest ever under the Illinois Trade Secret Act.
This post was contributed by Bill Patterson; he was the general counsel of Business Logic where he oversaw a “bet-the-company” litigation. He now manages complex litigation at Swanson, Martin & Bell. You can contact Bill at bpatterson@smbtrials.com.
Litigation finance is here to stay. Having worked as outside counsel, in-house and now as outside counsel again, I can confidently make that statement. There are three fundamental ways litigation finance changes your job, whether you’re inside or out.
The litigation finance industry in the U.S. is relatively new compared to the more mature markets that exist in Australia, the U.K. and other parts of Europe. Continuing the growth trend in North America is now Canada, which has begun to adopt litigation finance on its own terms.
Like its Commonwealth sister Australia, litigation finance in Canada found its initial toehold in class action funding, in response to the ever-increasing costs of litigation and the risks of a loser-pays system. Over the last few years, Canadian courts have approved litigation funding agreements in the class litigation context despite long-standing adherence in Canada to the champerty and maintenance doctrines. In fact, the province of Quebec took the unique step of establishing a public fund that is used to finance class lawsuits as discussed by University of Montreal Professor Catherine Piché at last month’s symposium on litigation finance at NYU. Ontario has a similar fund.
Developing a new product or business in the energy space is rife with complexity. Whether it be creating a new alternative energy device or innovative software platform, energy entrepreneurs must identify a valuable opportunity, assemble a dedicated and talented team, and potentially invest years and abundant resources in R&D – all of which may occur before navigating government regulations, finding manufacturing partners or even knowing whether you have a viable product for the market.
As the litigation finance market has developed in the U.S., the number of firms offering financing has likewise grown. Indeed, in recognition of the growing field of players, Above the Law recently surveyed readers about their experiences with the most significant commercial litigation finance firms. But beyond word of mouth, how might one choose among litigation funders, particularly if they are offering ostensibly equivalent economic terms? Like choosing attorneys best suited to litigate a case, there are a number of considerations that will enable claimholders and their counsel to differentiate between their options.
