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Litigation finance start-up first to use data-backed methods

by Futures Centre, Oct 17
1 minute read

Silicon Valley based start-up ‘Legalist’ is to be the first litigation financer to use big data in its assessment process. Litigation finance is where a third party covers the legal cost of a court case, in exchange for a share of the settlement.

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Legalist’s founders have developed an algorithm that allows them to trawl through fifteen million previous cases, and analyse the influence of 58 factors on the chances of a favourable reading. By using a data-backed method, the lengthy and costly assessment process is streamlined significantly. If a given case has a potential return exceeding $1 million, and a favourable chance of success then Legalist will back it.

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