Litigation finance is booming, and Big Law is getting on board.

The practice originated in Australia in the 1990s and took hold in the U.K. soon thereafter. It has only recently come to the U.S., as law firms consider alternative financing models as a way to differentiate themselves.

Paul Hastings has offered litigation finance to its clients, by partnering with outside finance firms, for about a year now, according to Yar Chaikovsky, global co-chair of the firm’s intellectual property practice. Many of his clients prefer to pay for their litigation the traditional way, but that others “don’t want to pay full rates, and they’re happy sharing the returns with the financer,” he said.

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