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I can't answer the specifics of the Thiel/Bollea deal. But there are rules so whatever the deal is, we at least know the boundaries. One of the most important

I can't answer the specifics of the Thiel/Bollea deal. But there are rules so whatever the deal is, we at least know the boundaries. One of the most important is that any third party funding a lawsuit can not interfere with the independence of the attorney-client relationship (that's a term of art, but there are many examples and actually cases to guide a lawyers behavior). In Florida our contingency rule is 33% max pretrial and 40% max thereafter. There are other caps on different types of cases (i.e. Class actions). One of the reasons contingency is so popular, I suppose like healthcare, people can't normally fund large lawsuits out of pocket. So while contingency helps people who otherwise could not afford lawsuits, it also has the consequence of lawyers being more selective on cases (so even winners might get passed, because a lawyer could theoretically lose money winning). Answer? A platform like mine could really open the door to hybrid contingency/billable cases which is currently rarely used, but would be a great incentive for lawyers to take cases they might otherwise not be able to take financially.

jeffmould 10y ago
Makes sense. The problem I see is that we already have a litigious society. The one plus to lawyers being selective is that while they may miss a few lawsuits, it reduces the number of frivolous lawsuits, which opens a liability to the attorney if they are found the be filing lawsuits just to file. In a way the idea is kind of a spin-off of structured payment lending which is a proven market. Personally I wouldn't invest, the risk is to great and the investment could be tied up for years with a better than average chance of little to no return. That said, it is an interesting concept, and part of me does see some benefit. I think the problem to solve would be to sell the platform to potential plaintiffs. There are probably numerous valid lawsuits that do not get brought because the plaintiff thinks it will cost them a fortune to even talk to an attorney in the first place. Put aside healthcare/accident related claims, but I am thinking more employer related lawsuits.

jeffmould 10y ago

Makes sense. The problem I see is that we already have a litigious society. The one plus to lawyers being selective is that while they may miss a few lawsuits, it reduces the number of frivolous lawsuits, which opens a liability to the attorney if they are found the be filing lawsuits just to file. In a way the idea is kind of a spin-off of structured payment lending which is a proven market. Personally I wouldn't invest, the risk is to great and the investment could be tied up for years with a better than average chance of little to no return. That said, it is an interesting concept, and part of me does see some benefit. I think the problem to solve would be to sell the platform to potential plaintiffs. There are probably numerous valid lawsuits that do not get brought because the plaintiff thinks it will cost them a fortune to even talk to an attorney in the first place. Put aside healthcare/accident related claims, but I am thinking more employer related lawsuits.