Deep Pockets - A Legal Term

The term "deep pockets" is a phrase that is frequently used when talking about a lawsuit. I put the three words: "deep pockets" lawyer into Google and I got 313,000 hits!!!!! That is incredible!!!

When I put Deep Pocket into Wikipedia and I got this short article:
Wikipedia: Deep Pocket

Essentially a "deep pocket" can be a rich person or a large and wealthy corporation, including non-profit corporations, such as religions.

The significance of this term is that plaintiff attorneys love to file lawsuits againt large and profitable corporations, such as the trucking industry or even religions.

For example, the Church Of Jesus Christ Of Latter-Day Saints has many millions of members around the world. Since many members of the LDS church pay "tithing" the church has many, many opportunities to spread the "gospel."

This same pool of money can also lure attorneys to sue the church!!! Because of this the church has a large staff of defence attorneys!!!

As I write this, the current First Councilor in the First Presidency of the LDS church, President Dallin Oaks, is an attorney. Well, President Oaks taught law at the University of Chicago Law School!!!

All of this is why the LDS church has a legal department - because the church has a "deep pocket" to deal with those who sue the church!!!

 


Click the back arrow or if you came to this page by a search engine, click this link:
Home Page