The present invention is directed to a process for preparing hyperbranched phosphoric acid esters as well as a hyper-branched phosphoric acid ester, its use for dispersing solid substances and in the production of water- and/or solvent-based coatings and paints, printing inks and/or plastics such as unsaturated polyesters, PVC or plastisols and a pigment dispersion comprising the at least one hyperbranched phosphoric acid ester or salt thereof and its use as a component in paints or lacquers.