Litigation, Co-Sponsored by Professional Responsibility

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Session Type: Section Programs

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Over the last decade, third-party litigation finance in the United States has quickly grown into a $10 billion industry. Third-party litigation finance has been praised for increasing access to justice and reducing variations in litigant resources and risk tolerance, but concerns have been raised about champerty, less meritorious litigation, and effects on lawyer independence and client control. This program will explore third-party litigation finance with attention to contested issues such as fee splitting, claim assignment, aggregate litigation, and attorney-client privilege. The program will explore proposals such as disclosing third-party litigation finance in litigation and permitting non-lawyer ownership or investment in law firms.