Selling judgments

Cite this Article
Larry Ribstein, Selling judgments, Truth on the Market (October 30, 2011),

The ABA Journal discusses a law student’s entrepreneurial solution to the legal job market:  start his own market.  It’s called Judgment Marketplace, and it enables trading court judgments.  The aim is to make a dent in the nearly 80 percent of judgments in the U.S. that aren’t collected.  The firm ultimately may “serve as a tool for potential investors to purchase large portfolios of judgments” and provide a mechanism for evaluating judgment sellers’ credibility and judgment collectibility.

This is one possible piece of law’s information revolution, in which the traditional cottage industry of lawyers advising individual clients turns into a robust information market.  It’s also an example of the new opportunities that may replace the disappearing traditional law jobs.