When law firms or individual lawyers have the opportunity to contest high-profile intellectual property (IP) cases or precedent-setting IP cases in court, especially those relating to patent infringement, many times they require funding. The significant levels of costs along with increased risk in litigations associated with patent infringement is accelerating the need for financing, thereby contributing towards the growth of North America patent infringement litigation financing market. Litigation funding is a concept wherein law firms receive a non-recourse source of funds in advance of an anticipated settlement or judgment for a strong IP case. The advance funding received can be used by law firms to meet various costs associated with the case.
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In the field of technological innovation, the opportunities for patent infringement litigation are abundant as the cases of somebody replicating the technology developed by a particular firm are rampant in the region. IP-theft is often seen in cinema and television series when stories or characters of one story are copied from another. Simultaneously, in the field of Literature, there have been instances where books were banned when the stories and characters in them were found to be copied from those in some other books.
A substantial increase in the patent litigation cases have been observed in the United States in the duration of the Covid-19 pandemic. Patent owners, in situations wherein their claims have strengthened, are viewing this time as an opportunity to monetize their assets. Furthermore, the simultaneous investments towards development efforts within the technology and healthcare sector is anticipated to contribute towards the growth of North America patent infringement litigation financing market over the future years.
The North America patent infringement litigation financing market accounted for US$ 183.25 Mn in 2020, and is expected to grow at a CAGR of 6.38% during the forecast years (2021-2029).
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The detailed research study provides qualitative and quantitative analysis of North America patent infringement litigation financing market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America.
Key Findings of the Report:
- Portfolio cases accounted for the highest share in the North America patent infringement litigation financing market in 2020. A significant demand for portfolio cases are being generated from the law firms & attorneys in the region.
- In the end users segment, business category held the largest market share in 2020. However, law firms & attorneys are expected to be the fastest growing category in this segment over the period of next eight years.
- IT sector held the largest market share in the sector-based segmentation of North America patent infringement litigation financing market in 2020. Intensified investments towards technological investments in the sector is contributing towards the segment’s growth in the region.
- In the context of regional segmentation, U.S. held the largest market share in 2020. During the forecast period, Canada is expected to emerge as the fastest growing market for patent infringement litigation financing.
- Some of the major players operating in the North America patent infringement litigation financing market are AiPi Litigation Finance, Burford Capital LLC, Curiam Capital, LexShares Inc., Longford Capital Management LP, OmniBridgeway, Parabellum Capital LLC, Pravati Capital, Randolph Square, Therium Group Holdings Limited and Woodsford Litigation Funding Ltd amongst others.
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North America Patent Infringement Litigation Financing Market:
- By Application
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- Single Case
- Portfolios
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- By End Users
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- Individuals
- Businesses
- Small and Medium Enterprises
- Large Enterprises
- Law Firms and Attorneys
- Others
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- By Sector
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- Financial Services
- Media & Entertainment
- Information Technology (IT)
- Healthcare
- Arts & Literature
- Others
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- By Country
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- U.S.
- Canada
- Mexico
- Rest of North America
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