Key findings
Risk management is priority number one for legal departments
92% of legal departments say that risk management is one of the top six most important functions they deliver to the business.
High levels of satisfaction with litigation funding
86% of those who had used litigation funding, said that they would use it again.
Potential gap in guidance from law firms and external advisors
64% of legal teams said they'd benefit from the support of law firms in understanding funding options available. Law firms don't routinely discuss alternative fee structures with their clients.
Company claims are not perceived to be company assets or an opportunity to drive revenue to the business.
Litigation funding: an unexploited opportunity
Less than 7% of legal teams have used litigation funding. There is a lack of clarity surrounding the different types of litigation funding available and eligibility criteria for funding. Putting forward a business case to CFOs and overcoming company culture that shies away from litigation are obstacles for General Counsel in leveraging litigation funding solutions.
