Betting Millions on Suits: How Litigation Finance Works (Video)

For centuries it was considered taboo for a third-party to have a financial stake in a lawsuit. Today, thanks to an industry re-examining the relevance of legal doctrines from feudal times, a new crop of firms have sprouted to invest in lawsuits for profit.

The concept, known as litigation finance, has quickly spawned a multi-billion dollar industry that is getting the attention of the country’s largest law firms.

In this video, Bloomberg Law’s Roy Strom gives a peek inside this growing practice and explains what it means for the future of the business of law.