Is the legal field the “last untapped gold mine?”
The potential market for litigation finance ranges in $100s of billions, of which some $30 billion is currently funded.
Created after the 1960s, the current governing system in the United States, dictates governing choices out of a huge legal machine, programmed with some 150 million words of federal law. Whereas in places like Alaska, prosecutable crimes are being dismissed “at an alarming rate.”
Zero law schools, seven four-year colleges in Alaska
The US national average is about four attorneys per 1,000 residents. Felony cases — that according to the National Center for State Courts should be tried within a year — can experience delays in Alaskan courts that have lasted up to 10 years.
New York State: 9.6 lawyers per 1,000 residents, the highest in the US
North Dakota has the fewest lawyers among the 50 states — 1,663 lawyers.
In Kansas, 1/3 of rural attorneys are 60+ years old. This at some point, could cause 87 of Kansas’s 105 counties to have inadequate legal representation.
Washington, D.C., Utah and Arizona allow non-lawyers to own a stake in law firms
Will private equity takeover turn law into something like a commodity?
Which business development opportunities do these law business trends present to you?
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