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This chapter examines the operational structure and economic foundations of third-party litigation funding (TPLF). It outlines how funding agreements are constructed, the respective roles and incentives of funders and claimants, and the contractual mechanisms used to apportion risk and return. Drawing on law-and-economics analysis, this chapter explains how litigation funding has developed into a recognized asset class that converts legal claims into investable financial instruments, while remaining compatible with the broader objectives of fairness, access to justice, and procedural integrity. By clarifying both the conceptual underpinnings and the practical design of TPLF, this chapter provides the analytical basis for the jurisdictional case studies in subsequent chapters.

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Concept, Mechanics, and Economic Rationale of TPLF

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  • 发表日期：

    2026年

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  • Narong Kiettikunwong

摘要

This chapter examines the operational structure and economic foundations of third-party litigation funding (TPLF). It outlines how funding agreements are constructed, the respective roles and incentives of funders and claimants, and the contractual mechanisms used to apportion risk and return. Drawing on law-and-economics analysis, this chapter explains how litigation funding has developed into a recognized asset class that converts legal claims into investable financial instruments, while remaining compatible with the broader objectives of fairness, access to justice, and procedural integrity. By clarifying both the conceptual underpinnings and the practical design of TPLF, this chapter provides the analytical basis for the jurisdictional case studies in subsequent chapters.