Cresskill, NJ: RD Legal Funding, LLC (“RD Legal”) recently published Legal Funding 101, a white paper written by company president Joseph Genovesi. The paper provides a synopsis of the growing legal funding industry, which many members of the legal community have likely heard about in passing, but may not understand how it works.
Since the early 1990s, legal finance has grown from a small industry to a now viable option that many attorneys have come to use. Genovesi’s goal in writing the paper was to educate the legal community about how legal finance works, and how it can help attorneys. The paper is written both to aid attorneys, and to educate the general public about this growing sector.
“I think we are only seeing the tip of the iceberg in terms of how legal finance is being used now, and how it will be used in the future,” says Genovesi. “The purpose of Legal Funding 101 is to give a very basic explanation of how different types of legal financing can benefit attorneys.”
Legal Funding 101 discusses a basic history of the funding industry, why traditional financing may not be the best option for attorneys, and explanations of a variety of financing options that are available to attorneys. Genovesi delves into different types of traditional funding, then different types of alternative litigation funding, to emphasize how alternative litigation funding is designed specifically to aid attorneys. He also takes the time to differentiate between various types of alternative litigation financing because some are more targeted or niche than others. At the end of the paper, Genovesi includes two case studies that describe the full process of legal financing, specifically Fee Acceleration.
“There are all kinds of legal finance companies out there. Many companies focus solely on pre-settlement funding or post-settlement funding,” Genovesi explains. “Then there are others that focus on case-cost financing, voucher funding, judgment / verdict funding and appeals funding, so it is very important to make distinctions.”
The white paper was released on RD Legal’s blog on January 28, 2014. It is available for anyone to read. Legal Funding 101 is also available for download on the Social Science Research Network’s website.
Joseph Genovesi, President of RD Legal, has 12 years of experience in the alternative investment industry. Mr. Genovesi has previous experience as SVP at an alternative investment advisory firm and as VP at a global asset management firm with over $3 billion in hedge fund investments. Mr. Genovesi has an MBA in Finance from Rutgers University and a BS in Finance from Villanova University.
RD Legal was founded in 1998 by former litigator, Roni Dersovitz. During his time as a personal injury attorney, he experienced cash flow issues not unique to his practice, and started the company to provide plaintiff’s attorneys with the financial tools and strategies they need to outperform their competitors and boost their bottom line. RD Legal is a post-settlement legal funding company that is able to fund attorneys and plaintiffs with settled cases facing a delay in payout.
For more information about RD Legal and their post-settlement funding solutions, please contact Joseph Genovesi, President of RD Legal, at 201-568-9007, ext. 140. To fill out an application, please complete the quick form on this page.
