General Counsel can have responsibility for a broad and varied range of duties depending on the size of their company, the type of business it conducts and the jurisdictions in which it operates. Invariably, however, General Counsel are accountable to their board of directors and shareholders for mitigating risk and protecting the legal rights of the company, including managing litigation proceedings needed to recover remedial damages for any infringement of those rights.
The decision whether to initiate a lawsuit can have significant consequences for the company’s finances and will often pose a difficult dilemma for General Counsel. As any litigant is acutely aware, the litigation process is often an elongated and expensive endeavor with the ultimate costs for access to justice being quite unpredictable and unwieldy. As such, General Counsel frequently face a conundrum whether to risk the company’s finite financial resources chasing after an elusive defendant, even in cases where the injury to the company has been severe. It involves a multi-faceted cost-benefit analysis that sometimes results in a decision not to pursue a compelling claim that may actually be a very valuable asset.
Non-recourse litigation finance serves as a transformative tool for General Counsel to overcome this quandary, and advise their board of directors on the prospect of an offensive litigation as a business opportunity rather than an expense liability risk.
You can read our new whitepaper, Non-Recourse Litigation Funding: a Transformative Tool for General Counsel online or you can download the PDF here