When law firms have the opportunity to take on high-profile or precedent-setting intellectual property cases, they shouldn’t let a lack of funding stand in their way. Litigation funding offers those firms a non-recourse source of funds an advance on an anticipated settlement or judgment for a strong IP case.
Lawyers fighting intellectual property cases must constantly sharpen their skills by monitoring changes and trends in intellectual property law. Oftentimes spanning multiple jurisdictions and countries, IP is a fast-changing area where newly fought cases can set precedents that requires lawyers to shift gears and create new plans of attack.
These constantly shifting sands make fighting intellectual property cases both expensive and time-consuming. But with the American Intellectual Property Law Association reporting that, in 2017, for IP cases with potential awards ranging from $1 million to $10 million, the average legal cost was $1.7 million. Fees in this range make cases well worth handling, but many firms will need an influx of capital to help continue business-as-usual.
IP law is often broken down into two categories: hard and soft.
No matter what type of IP law infringement a lawyer or law firm is combating or whether their client is fighting it out in a courtroom or a deposition, litigation funding is a valuable tool in the battle. Litigation funding provides a proven method for firms to secure an advance on anticipated fees derived from their case(s). Funds can be used to meet various costs of fighting the case, or to support costs of running your firm, thus ensuring continued growth and success.
We understand the challenges law firms face when representing clients, choosing which new cases to take on, and embracing marketing efforts to secure future clients. Once paid, funds can:
Don’t unnecessarily limit your firm’s potential; contact Pravati Capital today to learn how our patent litigation funding will give your firm what it needs to keep growing.
