In the article “The 2017 Litigation Finance Market is Taking Hold”, Karl Heideck discusses the growing litigation financing market. Because litigation is a constant risk for companies, they need to make sure they are protected against financial backlash.
Litigation financing provides the financial backing for any lawsuits for those engaged in both large and small scale claims. After significantly growing over the past 6 years, litigation financing is predicted to move through more jurisdictions providing services such as legal financing, portfolio investment, and counseling.
However, the issue comes from the litigation financiers focusing on corporations who are not enthused about allowing external parties to influence asset management. Instead of presenting themselves as a controlling factor of assets, third-party financiers seek to market themselves as a method to settle litigation, providing security for the companies at risk for lawsuits.
This is the first step of legal financing, which is expected to grow and change significantly in 2017. Despite the changes, companies will notice an increase in financial options to protect against litigation fees.
Karl Heideck is a Philadelphia-based attorney specializing in risk management and litigation. After graduating with his Juris Doctorate from Temple University and working with firms like Pepper Hamilton, Karl Heideck went on to become a contract attorney at Hire Counsel.
Karl Heideck has ten years of experience in commercial and civil litigation, corporate law, and intellectual property law. However, since the banking crisis of 2008, Karl Heideck focuses on issues such as liquidity positions, acquisitions, risk management, and transactions.
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Jeremy Goldstein has his firm known as Jeremy L. Goldstein and Associates, LLC. It is located in New York.
The aim of the company is to advise management teams, CEO and compensation committees in executive compensation. Before Jeremy created his company, he worked at Sherman and Sterling LLP.
Lawyer Referral and Information Service
Sometimes it can be quite difficult to find a competent lawyer of a lawyer who specializes in your legal issue. New Yorkers have gotten a newer and quicker method of tracing a lawyer within their surroundings that has the capability and the experience to deal with their legal matter. A 24-hour-a-day online portal recently opened by the Lawyer Referral and Information Service assists people to find lawyers without going through lots of trouble.
State Bar President Claire Gutekunst spoke about the LRIS saying that it is a convenient method that helps people find legal help easily. The perk of this service is that every lawyer that is recommended by it has been reviewed by the New York State Bar Association. The service was as a result of a partnership with Legal.io. This is a company that supplies the legal industry with marketplace and referral management technology.
The service has a very simple procedure which is highlighted below.
- If you are seeking a lawyer, you visit the website (https://nysbalris.legal.io), and then you fill a questionnaire which describes your legal matter and your location.
- Your questionnaire is then reviewed by the State Bar staff who then match you with a suitable attorney.
- After that, the request is forwarded to the appropriate county bar association. This happens when you live in a state/county where the referral service is locally run.
- You are not charged for the referrals. If you consult a lawyer, then you are charged 35 dollars.
- If you do not like the lawyer after the first consultation, then you are under no obligation to retain him/her.