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Alternative litigation financing in the United States: issues, knowns, and unknowns

Alternative litigation financing in the United States: issues, knowns, and unknowns

Garber, Steven, 1950-

Alternative litigation financing (ALF) -- also known as "third-party" litigation financing -- refers to provision of capital by parties other than plaintiffs, defendants, their lawyers, or defendants' insurers to support litigation-related activity. This paper provides an overview of policy issues related to the legal ethics, social morality, and, especially, potential economic effects of ALF. It provides a snapshot of the only three segments of the ALF industry that appear to be fairly active as of early 2010, all of which provide support to plaintiffs or their lawyers. It offers lessons for policymakers, emphasizing distinctions that are often underappreciated in discussions of ALF. The paper concludes by suggesting that, for the next five to ten years, policymakers might best limit themselves to interventions that do not fundamentally interfere with the potential for increased competition to solve what appear to be important information problems that may limit the contributions of ALF to national economic performance

eBook, Electronic resource, Book. English. Electronic books.
Published Santa Monica, Calif. : RAND 2010

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Details

Statement of responsibility: Steven Garber
ISBN: 0833050729, 9780833049902, 9780833050724
Note: Includes bibliographical references (pages 47-50).
Note: Print version record.
Physical Description: 1 online resource (xv, 50 pages) : illustrations.
Series: Occasional paper ; OP-306-LFCMP
Subject: Costs (Law) United States.; United States.; Practice of law Economic aspects United States.; Costs (Law); LAW Civil Procedure.; LAW Legal Services.; Practice of law Economic aspects.; LAW Civil Law.; Law and economics.; Lawyers Fees.; POLITICAL SCIENCE Government Judicial Branch.; Lawyers Fees United States.
Series Title: Occasional paper (Rand Corporation) ; OP-306.
Local note: JSTOR Books at JSTOR Open Access

Contents

  1. Introduction
  2. Overview of this paper
  3. A snapshot of the U.S. ALF industry, as of early 2010
  4. Different meanings of ethics and implications for ALF activity
  5. Microeconomic perspectives on the current and near-term effects of ALF on litigation
  6. Policy assessment and the effects of ALF over time
  7. Concluding comments.