This startup funds your lawsuit in exchange for a part in the payoff

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This startup funds your
lawsuit in exchange for a part in the payoffWhen professional wrestler Hulk Hogan successfully sued the website Gawker for violating his privacy, Internet billionaire Peter Thiel paid his legal bills. Now, Thiel's foundation is helping Harvard dropout Eva Shang launch Legalist, a company that will give a comparative sort of legal financing to little and medium-sized businesses required in litigation, in return for a percentage of the payoff.
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What is Litigation Funding?

At the most fundamental level, litigation finance (also called litigation funding) is the practice where a third party unrelated to the lawsuit gives capital to a claimant involved in litigation in return for a portion of share from the lawsuit. The capital provided by monetizing a legal claim may directly pay for a portion of the costs of litigation, including attorneys' fees, expert witness fees and court expenses. Litigation finance might be utilized to store working capital for companies required in litigation or even help entrepreneurs pay for personal expenses.

Looking at the other side of the coin, if a case is backed by giants like Thiel, the opposition (be it right or wrong) can become a victim of personal vendetta.

How and Why?

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The idea here is, using historical lawsuit data; the result of a lawsuit can be predicted before it's even filed. If you can foresee which lawsuits will succeed, you can guarantee huge financial returns for people who put resources into litigation. Also, to expand the probability of a lawsuit's success, would-be litigants should file their cases in districts with judges who are favourable to that kind of case.

For the time being, the startup is simply centred around state and county records. This is on account of most by far of court cases happen on the state level. India being one of the hottest growing sectors of the startup ecosystem, with millions of patent cases pending due to lack of funds, it’ll be interesting to see if any startup in India comes up with a similar idea

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