Legal Funding Can Help Save Businesses

Posted on April 6, 2015 by Dan Christensen

For many people, starting their own business is the realization of a long-held dream. The experience of seeing your own ideas made real and the freedom of being your own boss inspires entrepreneurs to take on the workload and risk that comes with being a small-business owner.

For biotech entrepreneur John Chant, that dream almost turned into a nightmare when he found himself in the middle of a three-way legal battle with two much wealthier parties. At stake in a series of lawsuits between Chant’s Gatekeeper Pharmaceuticals, the Dana-Farber Cancer Institute and pharmaceutical giant Novartis was the very technology that made Chant’s business a viable enterprise: the patent for a new lung cancer drug called WZ-4-002.

Chant won in his suit against Novartis to keep the rights to license his patent, but the dispute caused his investors to leave the company. Chant found himself lacking funds to take Novartis back to court over the costly delays he suffered during the first round of lawsuits.

Fortunately, he was able to partner with a company that offered legal funding. With an influx of money, Chant was able to reach a settlement with Novartis and find a sub-licenser for the technology he developed. Legal funding allowed him to land on his feet despite years of legal wrangling.

Could Legal Funding Help Me While I Wait For My Lawsuit to Settle?

When facing financial difficulty because of the cost and disruption caused by prolonged litigation, legal funding can be an invaluable tool to stay afloat. Beacon Legal Funding provides personal injury plaintiffs with cash while they await their settlement.

Beacon also assists attorneys by supplying advances on expected fees. The advanced cash helps attorneys grow their practices while devoting the necessary resources to cases they are currently trying. Investing enough in their cases now will allow attorneys to maximize returns from settlements and judgments.

A simple application is all that is needed to get the legal funding process started and get one step closer to financial comfort.

Did You Know? According to the Civil Litigation Cost Model developed by the National Center for State Courts, median litigation costs for state court cases with a completed trial range from $43,000 for a typical automobile accident case up to $122,000 for malpractice cases.

Beacon Legal Funding – Providing Funding Solutions

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