The First Market For Justice

The global market for justice is huge. The global legal services market had revenues of USD 610 billion in 2013. There were an estimated 4,082,100 legal professionals globally, and by 2018 the market for justice is expected to be USD 750 billion globally. In addition to being huge, the legal market is ripe for disruption, since it is essentially Medieval in nature.

The current legal systems were developed during the Middle Ages in the United Kingdom (the common law), France (civil law) and Islamic countries (Islamic law), and they have changed little over the past three or four centuries.

The market for justice is frequently criticized by economists as being an inefficient market: the high price of legal services has been ascribed to asymmetric information between users and their lawyers, since there is little transparent data concerning legal fees, as well as to State regulations which provide lawyers with a monopoly for representation. This leads to situations where, in countries such as the US, the average hourly rate for partners is USD 536, an amount which only a very small minority of individuals can afford for a complex case.

States have simply not managed to address the high costs of obtaining access to justice in a satisfactory manner. While legal aid exists in most developed countries, sadly, the tales of legal aid lawyers showing up at trial drunk, or sleeping during a case, are true, and there are two levels of justice that currently exist in today’s market for justice: justice for the rich, who have the available funds to pay for a “dream team”, and justice for everyone else. States show no signs of fixing this serious problem at any time in the foreseeable future.

Invest4Justice attempts to address this fundamental flaw in the world’s legal systems, by allowing anyone, from any country, to obtain litigation funding for their own “dream team”, whether they are a plaintiff or defendant. It also improves the transparency of the legal market, by allowing users to rate their lawyers after a case has been won or lost, so that users can ensure that they are using only lawyers of the highest quality.

The only prerequisite for funding is that (1) the case is of social interest, such as cases that aim to abolish the death penalty or promote minority rights or that (2) potential compensation is greater than the cost of legal fees and expenses for a case, in which case an investor could profit from paying for it in the place of a litigant. Anyone can access justice, while externalizing their financial risk, lawyers can obtain new clients, and investors can make a superb profit: Invest4Justice is good for everyone.

With your help, we can make universal access to justice a reality. Sign up for Invest4Justice for free, whether you are a lawyer, a litigant, or a potential investor or donor, to help bring the market for justice out of the Middle Ages.

– Invest4Justice (Invest4Justice is a non-profit incorporated in Switzerland)

 

 

 

 

 

 

 

The First Market For Justice