What is "deep pocket"

Pocket \Pock"et\ (p[o^]k"[e^]t), n. [OE. poket, Prov. F. & OF. poquette, F. pochette, dim. fr. poque, pouque, F. poche; probably of Teutonic origin. See Poke a pocket, and cf. Poach to cook eggs, to plunder, and Pouch.]

1. A bag or pouch; especially; a small bag inserted in a garment for carrying small articles, particularly money; hence, figuratively, money; wealth.

2. One of several bags attached to a billiard table, into which the balls are driven.

3. A large bag or sack used in packing various articles, as ginger, hops, cowries, etc.

   Note: In the wool or hop trade, the pocket contains half a sack, or about 168 Ibs.; but it is a variable quantity, the articles being sold by actual weight.

4. (Arch.) A hole or space covered by a movable piece of board, as in a floor, boxing, partitions, or the like.

5. (Mining.)

   1. A cavity in a rock containing a nugget of gold, or other mineral; a small body of ore contained in such a cavity.

   2. A hole containing water.

6. (Nat.) A strip of canvas, sewn upon a sail so that a batten or a light spar can placed in the interspace.

7. (Zo["o]l.) Same as Pouch.

8. Any hollow place suggestive of a pocket in form or use; specif.:

   1. A bin for storing coal, grain, etc.

   2. A socket for receiving the foot of a post, stake, etc.

   3. A bight on a lee shore.

   4. a small cavity in the body, especially one abnormally filled with a fluid; as, a pocket of pus.

   5. (Dentistry) a small space between a tooth and the adjoining gum, formed by an abnormal separation of the gum from the tooth.

9. An isolated group or area which has properties in contrast to the surrounding area; as, a pocket of poverty in an affluent region; pockets of resistance in a conquered territory; a pocket of unemployment in a booming ecomony.

10. (Football) The area from which a quarterback throws a pass, behind the line of scrimmage, delineated by the defensive players of his own team who protect him from attacking opponents; as, he had ample time in the pocket to choose an open receiver.

11. (Baseball) The part of a baseball glove covering the palm of the wearer's hand.

12. (Bowling) the space between the head pin and one of the pins in the second row, considered as the optimal point at which to aim the bowling ball in order to get a strike.

    Note: Pocket is often used adjectively in the sense of small, or in the formation of compound words usually of obvious signification; as, pocket knife, pocket comb, pocket compass, pocket edition, pocket handkerchief, pocket money, pocket picking, or pocket-picking, etc.

    deep pocket or

    deep pockets, wealth or substantial financial assets.

    Note: Used esp. in legal actions, where plaintiffs desire to find a defendant with "deep pockets", so as to be able to actually obtain the sum of damages which may be judged due to him. This contrasts with a "judgment-proof" defendant, one who has neither assets nor insurance, and against whom a judgment for monetary damages would be uncollectable and worthless.

    Out of pocket. See under Out, prep.

    Pocket borough, a borough ``owned'' by some person. See under Borough. [Eng.]

    Pocket gopher (Zo["o]l.), any one of several species of American rodents of the genera Geomys, and Thomomys, family Geomyd[ae]. They have large external cheek pouches, and are fossorial in their habits. they inhabit North America, from the Mississippi Valley west to the Pacific. Called also pouched gopher.

    Pocket mouse (Zo["o]l.), any species of American mice of the family Saccomyid[ae]. They have external cheek pouches. Some of them are adapted for leaping (genus Dipadomys), and are called kangaroo mice. They are native of the Southwestern United States, Mexico, etc.

    Pocket piece, a piece of money kept in the pocket and not spent.

    Pocket pistol, a pistol to be carried in the pocket.

    Pocket sheriff (Eng. Law), a sheriff appointed by the sole authority of the crown, without a nomination by the judges in the exchequer.
    --Burrill.

n. (singular of deep pockets English)

n. a source of substantial wealth (usually plural); "a patron of the arts should have deep pockets"

Deep pocket is an American slang term; it usually means "extensive financial wealth or resources". It is usually used in reference to big companies or organizations (ex: the American tobacco companies have "deep pockets"), although it can be used in reference to wealthy individuals (e.g., Bill Gates, Donald Trump).

In the context of a lawsuit, the deep pocket is often the target defendant, even when the true (moral) culpability is with another party because the deep pocket has money to pay a verdict. For example, a lawyer may comment that he or she sued the manufacturer of a product rather than the seller because it is the deep pocket, meaning it has more money than the seller with which to compensate the victim.