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The term “litigation funding” not too long ago meant a slip-and-fall victim could get a few grand to make ends meet while waiting for a payday. But today, commercial litigation finance is a multi-billion-dollar industry that’s altering the legal landscape in fundamental ways. It’s helping small companies go up against rivals with much deeper pockets, allowing lean law firms to take on massive cases, and spurring bill-by-the-hour litigators to consider accepting more matters on contingency. It’s also causing judges to wrestle with the question, “Who’s really behind this lawsuit?”

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