LexShares is service based in New York that is attempting to allow certain litigants the ability to crowdfund their lawsuits against more formidable, and more wealthy people.
It has been a long time practice to allow corporate cases the ability to privately fund lawsuits. LexShares is now attempting to eliminate specified cases. Rather, they are attempting to open up a market on a legal campaign that receive return on investment only from wins. As TechCrunch reports, “The company’s platform connects accredited investors with plaintiffs in commercial lawsuits to make an equity investment in a specific case. If the plaintiff wins (primarily through out-of-court settlements) then the investor receives a portion of the proceeds from the settlement or court judgement (it’s typically a settlement)”.
Partner Chris Lynch maintains the through crowdfunding, the amount of illegitimate and frivolous lawsuits would be reduced because all proposals considered would first go through Jay Greenberg and Max Volsky, authors on crowdfunding legal claims.
LexShare would provide a transparent and effective way to connect plaintiffs with investors, which would help secure wins. Not only would this help plenty of disenfranchised groups, but it would also help fund projects that are largely kept out of the press.
“Financing is key to the success of a lawsuit. Large companies often have an unfair advantage because they have virtually unlimited access to legal resources that individuals or smaller companies do not,” Volsky said.
Companies involved in the lawsuit would be able to post their case to the website, which would be shared online for accredited investors to review. The investors would then decide if they wanted to invest, and could track litigation for up to 5 years, by which time, remuneration or return on investment would be expected.
Currently, LexShares has already funded a case worth $40 million dollars in claim value, and has multiple other investment opportunities.
Meet The Credit Card-Sized Supercomputer
14 Reasons To Hate, Absolutely Loathe Apple
A "Magic Carpet" That Destroys All Hope For Humanity
Always Have Craft Beer With This Gadget
Who Needs Apple, Anyway?
4 Current "Green" Kickstarters
Pebble Beefs Up For Battle
You Probably Didn't Know Bitcoin Just Went Legit
4 Current Tech Kickstarters To Get Behind
Cyber Pirate To Be Hung?
IFA 2018: The top 3 tech trends of the year
Amazon Prime Day
Amazon Prime Day 2018: How to choose the best deals
The easiest way to fix an iPhone stuck in recovery mode without data loss
How are Canadians using mobile devices to relax?