In legal funding, the funder buys a portion of your legal fee from settled cases. Often lawyers are concerned that the cases they handle won’t qualify especially if they have a unique practice.
Fortunately for law firms, legal funding is different than financing from traditional lending institutions.
Funding companies should only require a few pieces of pertinent information and generally should be keeping the financing confidential.
In some types of litigation it’s common for an attorney to share or split fees with another attorney. Although you might be more than happy to work with the other attorney, you may not want him/her to know about your firm finances.
If you are owner of or partner in a law firm, you probably spend a good part of your day dealing with the day to day issues of running a legal practice.
Law firms are a business and running a successful business takes money.