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The cost of justice

A legal action does not always have to wear down a client's financial resources - there are viable alternative funding options available

12 January 2016

Regardless of spending patterns, high-net-worth individuals tend to be surprised by the sheer cost of legal action. It's not something they encounter in their day-to-day business dealings, where things they buy or sell have a fixed and clearly defined price. If something merits litigation, it's usually come out of left field and it's typically - contrary to the popular, grossly overstated notions about 'frivolous lawsuits' - quite serious.

As such, your client won't always know what's hit them if taken to court, and may assume proceedings can only be financed one way, which in turn may affect their decision to pursue justice. To pay and retain specialist lawyers on standard hourly rate models is to assume an elastic liability for costs.

They are paid by the hour and court cases can sometimes drag on for months (even years) at a time, regardless of whet...

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