[ExI] stock sales on legal cases

[William Flynn Wallace]

Consider the American *law firm* and its peculiar partnership-based capital
structure. Every state in the US prohibits outside *investment* in *law
firms* by blocking lawyers from sharing profits with non-lawyers. ...
Partners in *law firms* don't have permanent equity, so they forfeit their
capital when they retire.May 17, 2016  bill w   first page of Google search

On Mon, Mar 11, 2019 at 12:06 PM <spike at rainier66.com> wrote:

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> >>…What if… there was a way (or perhaps there already is a way) to buy the
> equivalent of stock in a law firm?  Investors can keep the firm afloat and
> keep its staff paid while they work on the case.  That would create a money
> equivalent to the breezy verbiage on Quora where people are guessing at the
> value of a civil case.
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> >>…Law hipsters among us please: can a person buy stock in a law firm?
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> spike
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> *From:* extropy-chat <extropy-chat-bounces at lists.extropy.org> *On Behalf
> Of *William Flynn Wallace
> *Subject:* Re: [ExI] stock sales on legal cases
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> I found something!  Sharksavers.org
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> bill w
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> …heeeeeeeeeeeeeheheheheheheheheeeeeeeeeeeeeehehehehehehheeeeeeeeeeee…
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> BillW, you had me going there.  I fell for it.  {8^D
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> Think about it, business hipsters!  There is a buttload of money to be
> made: create a “stock exchange” where a law firm can set up common shares
> for a particular case, then sell their shares as needed to keep the firm
> afloat while they work a case.
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> Oh we could get crazy rich off of this: we set up the exchange, charge the
> firm 1% of their stock to handle their transactions (as Predict_It does) so
> the law firm starts with 99%, then we charge the “stock” buyers and sellers
> 1% for transaction fees.  Then, as the case whipsaws in the press, it
> stimulates sales, so the “house” makes money both ways.
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> There is a prominent case in the news where a citizen is suing a news
> agency.  I read the comments on Quora and see there is a huuuuge diversity
> of opinion on the merits of the case, many of these opinions written by
> actual lawyers and people who sound hip on civil law.  Any time there is a
> wide diversity of opinion, there is money to be made on people willing to
> put their money where their mouth is.  It is like a specialized version of
> Predict_It.  Oh there’s money to be made here I tells ya!
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> spike
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