In the last decade, legal finance—also called litigation finance or third-party funding—has become an essential tool for savvy corporations and high-growth law firms to manage the rising costs of commercial litigation and arbitration, maximize recoveries and offload risk.
The 2019 Managing Legal Risk Report showed that 58.6% of CFOs see managing legal cost and risk as the GC’s #1 competency—although they also acknowledge that doing so is not easy—and nearly three-quarters (74.1%) of finance professionals agree that more innovation is needed by outside counsel to help companies manage legal costs.
Legal finance is no longer a new concept, but even with its continued growth, more lawyers know about it than truly understand how to use and benefit from it.
To help legal and finance professionals understand how using third-party capital can transform how they think about, pay for and manage legal cost and risk, Burford has created a comprehensive guide on the category called “Legal finance 101”.
Download Legal finance 101 to learn about:
- What legal finance is—and why corporations and law firms need to know about it
- How using legal finance compares to self-funding legal costs
- Answers to common questions about legal finance—from pragmatic questions like timing and costs, to issues like control and work product protection
- How to choose a finance provider
To learn more about how financing can help your firm or business think differently about managing legal costs, click the download button.