Business Litigation has always been an active sector of lawsuits because of the huge losses companies can absorb if the claim isn’t pursued. The onset of globalization has only increased the number of lawsuits filed between companies. Similar names for Business Litigation include, but are not limited to: Business Torts, Business Disputes, Commercial Litigation, Commercial Torts, and Commercial Disputes. In these types of cases, it can be a small business owner pursuing litigation against a big business, or two big businesses litigating against one another. In the past, attorneys who’ve litigated these cases were paid hourly or through retainers (the more traditional model of payment). Over time that has changed; now, some attorneys are taking Business Litigation cases on contingency.
Though attorneys who take on cases on a contingency fee basis are rare, it’s a growing trend that might become more popular as time goes on. In 2011, the Michigan State Bar published an article titled “Contingency and Referral Fees for Business Disputes." That article describes the contingency fee arrangement plaintiffs’ attorneys use in their practices and the advantages and disadvantages it presents for attorneys. One advantage described in the article was the access the contingency fee can provide to business clients that can’t afford the upfront fee or high retainer usually associated with Business Torts. Another advantage described in the article is the damage that can be associated with a potential Business Litigation case. When attorneys are deciding on a taking case, a big factor in that decision is the amount of damages the case can bring, which will mean a higher fee for them and a higher award for their client should they be successful.
A quick search of any keywords associated with Business Litigation and contingency fee will show a number of law firms advertising they can offer that service to you. Top law firms like Parker Waichman, Simmons, Hanly, Conroy, and Morgan & Morgan are just some firms that provide their services on contingency. Business Tort cases can be complex and it can take years before a trial date is set. Issues like intellectual property, breach of fiduciary duty, breach of contract, insurance disputes, finance and investments are just some of the reasons why businesses with claims will pursue litigation in court.
As the legal industry continues to evolve and calls for alternative billing methods from clients become louder, the contingency fee may be the solution that everyone is looking for. The firm can eventually make more money, the client can feel their interests align with their attorney(s), and businesses with strong claims and no money to pursue litigation can finally have their day in court.
Let RD Legal Accelerate Your Business or Commercial Litigation Fees
Attorneys waiting on payment from settled Business Litigation, Business Disputes, Business Torts, Commercial Disputes, Commercial Torts, or Commercial Litigation cases are urged to contact RD Legal Funding LLC. To start accelerating your legal fees today, please fill out the brief online application located at the upper right corner of this page. Or you can call RD Legal toll-free at 1-800-565-5177 to speak with one of our legal funding experts.