Third-party funding is used to provide access to justice for clients without means to pay for a strong case. At present, the litigation industry is developing. And litigation funding can offer an alternative to the cost burden of litigation. That is portfolio funding.
Portfolio funding means that multiple claims may be considered and funded under a single facility. It enables a law firm to reduce risk and variability as it pursues client matters across its portfolio of engagements. Portfolio funding is able to stabilize a law firm’s financial position. It reduces risk and eases cash flow challenges associated with alternative billing arrangements. Portfolio funding can offer law firms elusive visibility. That is the ability to advance meritorious cases backed by the confidence that certain legal fees will be paid in a timely manner.
Read full article at GlobalLegalPost.com
Summarized by Natalia Tsar.