Among other things, legal funding rates are determined by the degree of relative risk and uncertainty associated with a given case. Risk is determined by the degree of case development i.e. how long the case has been open, how much work has been done on it, and whether the case is settled, pending, or on appeal. And if pending, whether liability has been accepted or is being contested by the defendant. For example, a settled case where an agreement has been reached, the claim release has been signed and the plaintiff is just waiting for the settlement check to arrive has very little risk. On the other hand, a case with accepted liability in the midst of active settlement negotiations still has inherent risks. But it is far less risk than a case where the defendant has denied liability and is dead-set on having his day in court before a jury. Likewise, regarding case development, a case that was only opened a week ago has far more unknowns i.e. risk, than say, a case that has been open for 2 years and has depositions, expert reports, and a plaintiff who has had 2 surgeries and fully recovered from her injuries.