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Not every person or business can brush aside a multimillion dollar lawsuit — but for those that can afford to fight, a winning case can mean a profitable outcome. 

That’s what Legalist, a startup in Y Combinator’s Summer 2016 class, is banking on by offering funding to companies in litigation battles. For example, the startup has invested $75,000 for one lawsuit and said it expects to receive $1 million in the outcome. 

“It’s a niche field that you don’t really think about,” cofounder Eva Shang said during its the accelerator’s Demo Day on Tuesday, according to Business Insider. 

However, litigation funding did receive mainstream media attention this year after a Forbes report revealed Silicon Valley tech investor Peter Thiel had been backing Hulk Hogan’s lawsuit against Gawker Media.  Read more…

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