{"id":26278,"date":"2018-01-24T14:20:06","date_gmt":"2018-01-24T14:20:06","guid":{"rendered":"https:\/\/dominiclevent.com\/blog\/?p=26278"},"modified":"2019-04-17T17:14:54","modified_gmt":"2019-04-17T17:14:54","slug":"litigation-finance-evangelism","status":"publish","type":"post","link":"https:\/\/dominiclevent.com\/blog\/litigation-finance-evangelism\/","title":{"rendered":"Litigation Finance Evangelism"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight: 400\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-458072 alignright\" src=\"https:\/\/abovethelaw.com\/wp-content\/uploads\/2017\/03\/gavel-money-cash-bonus-litigation-finance-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/abovethelaw.com\/wp-content\/uploads\/2017\/03\/gavel-money-cash-bonus-litigation-finance-300x200.jpg 300w, https:\/\/abovethelaw.com\/wp-content\/uploads\/2017\/03\/gavel-money-cash-bonus-litigation-finance-620x414.jpg 620w, https:\/\/abovethelaw.com\/wp-content\/uploads\/2017\/03\/gavel-money-cash-bonus-litigation-finance.jpg 724w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\"\/>If you have been looking for a niche that will help you attract new business from inside and outside your firm, one of the most promising areas is litigation funding. \u00a0A wide range of lawyers in your firm need to be able to navigate litigation funding: transactional lawyers need to advise clients on the finance aspects of major litigation; litigators must advise clients who are considering potential claims of the various financing options available to them; and law firm leaders routinely evaluate the security and profitability of the firm\u2019s fee arrangements with clients. \u00a0<a href=\"http:\/\/bit.ly\/2n7FjUC\" target=\"_blank\" rel=\"noopener\">Expertise in litigation funding<\/a> has become a core competence. \u00a0Being an expert in litigation funding used to be a competitive advantage.\u00a0\u00a0<\/span><span style=\"font-weight: 400\">But with the increased availability and acceptance of litigation funding, lawyers\u2019 having experience with litigation funding \u2014 and funders \u2014 is a necessity and any firm lacking in this area will be at a distinct disadvantage. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Can you be your firm\u2019s litigation funding navigator, the \u201cgo-to\u201d lawyer who is consulted internally and who also attracts clients and external referrals? To position yourself as the \u201cgo-to\u201d firm resource on litigation funding, plan to master several tasks:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">A thorough understanding of the options in litigation funding including the variations on how deals are structured; whether there are ethical or other restrictions in your state on third party litigation funding; how to maintain control of the litigation; and when and how to inform adversaries of your use of litigation funding.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Establishing relationships with litigation funders. \u00a0\u00a0You don\u2019t need to know all of them, but you need to have access and credibility with some funders to present viable options to clients and prospective clients. \u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Understanding the difference among funders. \u00a0How long will they take to evaluate your matter? How sophisticated are they about the types of cases that you are likely to present to them? \u00a0What kind of ongoing support will they provide? \u00a0What kind of track record do they have in successful litigation investments? \u00a0Will an investment by a particular firm constitute an endorsement of the likelihood of success of your claim?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Ability to negotiate a litigation funding agreement.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Communication skills to present the litigation funding options to the firm\u2019s management as well as to a client\u2019s board and leadership. \u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">If you are willing to become an expert in litigation finance and to play a key role in your firm\u2019s access to and proficiency in litigation finance, here are some ideas on how to proceed:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Start following the case law on the permissibility of litigation funding in jurisdictions which are relevant to your clients and your firm. \u00a0There is a lot of <a href=\"https:\/\/abovethelaw.com\/2017\/06\/the-best-and-worst-states-for-litigation-finance-part-i\/.\" target=\"_blank\" rel=\"noopener\">variation among the states<\/a>.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Attend seminars offered by litigation funders. \u00a0Lake Whillans, for instance, provides continuing legal education courses on the ethics of litigation finance (for more information, contact Lake Whillans at drucker@lakewhillans.com).<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Present programs on litigation funding to key constituents in your firm: the CFO; the management committee; transactional lawyers; litigation practice groups. \u00a0You may want to start with litigation practice groups which attract litigation funding from litigation funders you know. \u00a0For example, if you have a relationship with Lake Whillans which funds breach of contract, trade secret misappropriation and breach of fiduciary duty claims, you would want to connect with the lawyers in \u00a0your firm who handle those kinds of matters.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Consult with experienced lawyers in other firms about their perspectives. You can obtain the names of lawyers in other firms from litigation funders who will usually provide names of references. \u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Encourage lawyers in your firm to include you in early discussions with clients about their litigation finance options.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Get ready to spring into action to offer your clients and your firm a litigation funding option in appropriate situations.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Especially if your firm\u2019s clients are sophisticated, your firm will be confronted by clients who specifically ask for your guidance on their litigation funding options. \u00a0Your firm\u2019s management will also be considering whether they can fund whole portfolios of cases to enhance the financial performance of your firm. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Is this an opportunity for you to stand out in your firm and to clients and prospective clients as an expert in the vital analysis of whether to bring litigation and how to fund it? \u00a0Can you become an evangelist for the most cutting-edge litigation funding options and build your own practice and strengthen your firm\u2019s competitive advantage? <\/span><\/p>\n<hr\/>\n<p><strong><em><span style=\"font-weight: 400\">Karen Kaplowitz, founder of The New Ellis Group, has been a business development strategist and coach for over 20 years. \u00a0She publishes a <a href=\"http:\/\/bit.ly\/2DwNC7a\" target=\"_blank\" rel=\"noopener\">blog<\/a> on business development strategy for lawyers. <\/span><span style=\"font-weight: 400\">\u00a0Her clients are partners in major law firms throughout the United States. \u00a0Karen, a graduate of the University of Chicago Law School, \u00a0was a partner for nearly 20 years in a Los Angeles litigation boutique, Alschuler Grossman &amp; Pines. \u00a0Karen can be reached at <a href=\"mailto:kkaplowitz@newellis.com\" target=\"_blank\" rel=\"noopener\">kkaplowitz@newellis.com<\/a>.<\/span><\/em><\/strong><\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&#038;aid=&#038;tid=CEA47DA761A34D8F86EC65CC581BDB5D&#038;url=https%3A%2F%2Fabovethelaw.com%2F2018%2F01%2Flitigation-finance-evangelism%2F&#038;c=15318221652742743549&#038;mkt=en-gb\">Source link <\/a><br \/>\n<a href=\"https:\/\/www.dominiclevent.com\/\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-19471\" src=\"http:\/\/dominiclevent.com\/blog\/wp-content\/uploads\/2017\/11\/litigation-300x225.jpg\" alt=\"\" width=\"400\" height=\"350\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you have been looking for a niche that will help you attract new business from inside and outside your firm, one of the most promising areas is litigation funding. \u00a0A wide range of lawyers in your firm need to be able to navigate litigation funding: transactional lawyers need to advise clients on the finance &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/dominiclevent.com\/blog\/litigation-finance-evangelism\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Litigation Finance Evangelism&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-26278","post","type-post","status-publish","format-standard","hentry","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Litigation Finance Evangelism - Dominic Levent Solicitors Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominiclevent.com\/blog\/litigation-finance-evangelism\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Litigation Finance Evangelism - Dominic Levent Solicitors Blog\" \/>\n<meta property=\"og:description\" content=\"If you have been looking for a niche that will help you attract new business from inside and outside your firm, one of the most promising areas is litigation funding. \u00a0A wide range of lawyers in your firm need to be able to navigate litigation funding: transactional lawyers need to advise clients on the finance &hellip; 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