How David Beats Goliath: Access To Capital for Contingent-Fee Law Firms

by Michael J. Swanson

Overview

How David Beats Goliath: Access to Capital for Contingent-Fee Law Firms addresses a little-known but critical flaw in America’s system of justice. Average citizens and workers who have been injured or wronged through negligence or malfeasance are guaranteed their day in court. In practice, however, this bedrock legal right is compromised. The problem is a paucity of fair and reasonable funding for expenses incurred in the bringing of personal-injury and other lawsuits. Writing for trial attorneys who represent middle-class or even indigent clients, author and finance expert Michael J. Swanson outlines this complex problem in a clear and lucid book that every dedicated trial lawyer should own. “By temperament, training and the long traditions of their profession, contingent-fee lawyers often fail to maximize the business needs of their practices,” says Swanson, “They especially fail to understand and control the cost of their capital structure.”

Product Details

ISBN-13:	9781599322506
Publisher:	Advantage Media Group, Inc.
Publication date:	08/22/2011
Pages:	142
Product dimensions:	5.80(w) x 8.90(h) x 0.50(d)
Age Range:	18 - 10 Years

About the Author

MICHAEL J. SWANSON, Industry veteran, the President and Chief Executive Officer of Advocate Capital, Inc., has written a definitive, common-sense book that explains how contingent-fee funding works, who provides it, what it costs, and how law firms can acquire and use it efficiently.

Table of Contents

Introduction Part 1: Background Chapter One: Meet Wendy Chapter Two: The Financial Realities of Contingent-Fee Legal Work (aka Kyle Has a Problem) Chapter Three: Cold Reality: Financial Deck Stacked Against Contingent-Fee Firms Chapter Four: Basic Financial Concepts PART 2: Review of Capital Sources Chapter Five: Sources of Funding for Contingent-Fee Law Firms Chapter Six: The Hidden, High Costs of Fee Sharing Chapter Seven: Contingent Lenders Chapter Eight: Appeal Funding Chapter Nine: Settlement Funding Chapter Ten: Finance Company Loans Chapter Eleven: Financing with Credit Cards Chapter Twelve: Partners’ Cash as a Funding Source Chapter Thirteen: Vendor Financing Chapter Fourteen: Bank Lines of Credit Chapter Fifteen: Loan with Interest Pass-Through PART 3: Application Chapter Sixteen: About That Loan Chapter Seventeen: Onward Conclusion Index

Editorial Reviews

I went to law school to be a trial lawyer not an accountant. This book relieves you of the worries of cash flow so that you can practice law and not bookkeeping.”
—David J. Hoey Law Offices of David J. Hoey, P.C.

“Mike Swanson’s book is a must read. I give it the very highest recommendation.”
—J. Gary Gwilliam, Esq. Gwilliam, Ivary, Chiosso, Cavalli & Brewer, Attorneys at Law

“Applying the sound advice from this book will help you create a financially sound and stable law firm. I wish this was available when I opened my first law firm.”
—Kenneth L. Hardison, Partner Hardison & Cochran, PLLC

From the Publisher