An individual or institution that has a lot of money. The phrase is frequently used in the context of deciding whom a plaintiff is going to sue for some perceived wrongdoing. Lawyers typically advise their clients that even if they are “legally” right (likely to win), it still only makes economic sense to sue someone who can pay the judgment. This, for instance, frequently accounts for why employers are sued when it is clear that the employee is responsible for the wrongdoing. Favorite “deep pockets” include insurance companies and large corporations. Another factor involved is that “deep pockets” are perceived to be” in a better position to pay” than others, and juries are more likely make the deep pockets pay just because they can, especially in cases where serious harm has occurred, and none of the parties involved seem particularly blameworthy. This phenomenon can be so powerful that some jurisdictions forbid any testimony about ability to pay to reach the jury. Contrast with “judgment proof”, meaning to have so few assets as to make it impractical to pursue through litigation.