NFIB sent an action alert to member small businesses in Ohio regarding House Bill 105 and Senate Bill 10, which would address third-party litigation funding in the state.

Predatory lawsuits have become big business for third-party lenders looking to cash in on speculative legal action, hoping for one big payday. These lawsuits target small businesses, knowing many Main Street owners do not have the resources to defend themselves in a costly, lengthy trial. Allowing anonymous third-party backers to finance litigation puts small businesses across Ohio at risk.

Thankfully, the Ohio General Assembly has introduced legislation that would provide much-needed transparency in third-party litigation financing. House Bill 105 and Senate Bill 10 will ensure that when a small business is sued, it is clear who is funding the lawsuit and who stands to benefit from its outcome.

NFIB asks Ohio’s small businesses to contact their legislators and urge them to support House Bill 105/Senate Bill 10. This legislation will help level the playing field and protect small businesses from being unfairly targeted by deep-pocketed third-party lenders.

Click here to reach out to your lawmakers and help get this important legislation across the finish line!