You Can Now Crowdfund Your Legal Battle
Crowdfunding platforms like Kickstarter and Indiegogo allow entrepreneurs who do not have organic financial backing the option to get their designs, ideas, products and so on the kick start they need to get off the ground. Now the legal industry are getting a dusting of traditions with this brilliant concept by American based company Lexshares that allows people to get their legal battle funded for by investors.
The concept was borne from the age old problem that legal fees are not affordable to everybody. The funding works on 'David and Goliath' cases, so commercial lawsuits between large corporations and small businesses. Anyone can also send their case into Lexshare's lawyers to be reviewed by their comprehensive team of professionals. Any investors receive a return of any legal fees if its a successful trial. They allow foreign investment but the web based platform only allows for U.S based investors to join for the moment. They are currently are only accepting case submissions for legal claims filed in U.S. jurisdictions but do plan on expanding to global in the future. Its nice to start seeing tech spill into litigation financing.