In an op-ed in the Huffington Post, Professor Brad Borden discusses how third-party litigation financing (TPLF) may ignite the resurgence of the legal profession. A growing trend among finance groups, TPLF allows a finance company to fund the cost of litigation in exchange for a share of a plaintiff’s monetary award. Professor Borden argues that, despite criticism from some business experts, TPLF will drive up demand first for litigation attorneys, and eventually for transactional and regulatory attorneys.
“TPLF, combined with an improving economy (which can’t hold back indefinitely) and the relative dearth of attorneys that will result from the decreasing law school enrollment, portend a perfect storm that will hit the legal market,” Professor Borden explains. “In fact, the legal services market, which has been a buyer's market for the last several years, will quickly become a seller's market. Those who invest in the legal profession stand to gain handsomely from the reversal.”
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