Legal System (4)

Written by LexShares Team | Oct 10, 2017 10:20:54 AM | 0 Comments

Looking Beyond the Almighty Billable Hour: Alternative Fee Arrangements

As mindful of precedent as attorneys and the legal profession must be, change does not often come easily. For many, billing clients by the hour has become as much a staple of the practice of law as depositions and tassel loafers, such that generations of attorneys have been conditioned to measure productivity—both their own and a firm's as a whole—in the six-minute metrics of billable hours. As time marches on, however, so do clients' expectations, especially when it comes to industries that offer services rather than tangible products.

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Topics: Financing Lawsuits, Litigation Funding, Legal System, AFA, Alternative Fee Arrangements, Billable Hours

Written by Matthew Oxman, LexShares VP of Business Development | Jul 19, 2017 8:27:58 AM | 0 Comments

Litigation Finance: The Advantages of a Well-Capitalized Plaintiff

By Matthew Oxman, LexShares VP of Business Developement. Matthew can be reached at [email protected]

In recent years, litigation costs have been spiraling upward at a blistering rate.  Since the 2008 financial crisis, billing rates at top law firms have increased 3-4% per year, greatly outpacing the rate of inflation in the broader U.S. economy.  In 2015, law firm revenue increased 4%, despite a demand increase of just 0.5%.  The average rate for top partners now sits at $875/hr, over 25% higher than it was just 5 years ago.[1]

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Topics: Financing Lawsuits, Litigation Funding, Litigation Finance, Legal System

Written by LexShares Team | May 22, 2017 9:54:39 AM | 0 Comments

Eyeing the Beholder: Accounting for the Pivotal Role Judges Play in a Lawsuit

If the courtroom drama of a lawsuit could be reduced to the ever-shifting balance between Lady Justice's scales, the judge would be the fulcrum.  A judge maintains order over the proceeding and ensures that parties, witnesses, and counsel alike all follow proper procedures, safeguarding every party’s right to a fair trial.   At every trial, the judge decides each issue of law that arises.  Each time an attorney objects to a question, testimony, or piece of evidence, that attorney is asking the judge to determine, as a matter of law, whether the subject of the objection oversteps the bounds of admissibility under courtroom procedure and the rules of evidence.  In non-jury trials, a judge also serves as fact finder, determining whether the evidence presented suffices to establish the events and actions a party seeks to prove.  In trials where jurors decide the facts of the case, a judge instructs the jury on the laws that will guide its deliberations, and refines the scope of the facts under the jurors’ consideration.  In this way, just as a fulcrum keeps the scales aligned and supports equally the weight on each side, a judge personifies the level foundation upon which our legal system rests.

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Topics: Litigation Finance, Legal System

Written by LexShares Team | Dec 2, 2014 9:15:00 AM | 0 Comments

Litigation Finance and the U.S. Legal Industry

The U.S. legal industry is vast. The combined value of all verdicts, settlements, attorneys’ fees, and billings for non-lawyer legal services would easily eclipse the GDP of Switzerland. Within its courtrooms each year are tens of millions of cases – a good proportion of the civil docket comprised of torts and commercial lawsuits – and hundreds of billions of dollars change hands. Attorneys occupy a dichotomized position within the sector, both celebrated and hated for their important role in the legal system. Arbitration, settlement, and other out-of-court forms of resolution represent a substantial proportion of tort and commercial claims – as much as 40 percent by some estimates – that are never formally initiated, and thus unfold in addition to courtroom statistics. A market of this staggering size and magnitude cannot help but offer a compelling investment proposition.

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Topics: Financing Lawsuits, Litigation Funding, Litigation Finance, Legal System