Definition
The illegal practice of funding someone else's lawsuit in exchange for a share of the proceeds, essentially legal speculation that most jurisdictions frown upon. Ambulance chasing's more sophisticated cousin.
Example Usage
The agreement was void as champerty since the investor had no legitimate interest in the litigation beyond profit.
Origin
From Old French 'champart' meaning 'share of produce,' originally referring to feudal land arrangements
Fun Fact
Modern litigation funding has blurred champerty's lines, with hedge funds now bankrolling lawsuits in what's called 'legal entrepreneurship.'
Source: Legal ethics and litigation finance terminology
Related Terms
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See “champerty” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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