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08 Oct, 2024 by Stanley mui
Back in August, I called Goldfarb & Luu to update my revocable trust. I last updated in 2001.
The quote was $1050.00 depending on how much time is spent reviewing it. If a paralegal reviews it. It is $295.00 per hour. If an attorney needs to review it, it is $525.00 per hour.
Annette , Rebecca’s administrative assistant and I agreed on a schedule by phone with a paralegal and Rebecca. Then shortly after, I received an email but the schedule to talk to Michelle/paralegal and Rebecca had completely changed without our prior agreement .She agreed to revert Michelle’s back to the original but was quite adamant not changing Rebecca’s schedule as Rebecca’s schedule was quite full but her schedule wasn’t convenient for me. Nevertheless I consented because I liked to get it moving .
After talking Michelle I wasn’t happy about it . Michelle and I spent 15 minutes , verifying the account numbers of each of my asset account. I felt what she did as a paralegal wasn’t warranted as it was quite clerical and didn’t require a paralegal to ask me if my account numbers as stated were corrected. That phone call and reviewing the existing estate plan costed $206.50 ( 0.7 hours or 42 minutes . My phone record indicates 15 minutes so she used 27 minutes to review my old trust ).
Rebecca reviewed my trust and wrote the following “ Your trust is only 16 pages long and is missing critical sections so unfortunately, we cannot amend it and need to restate it. The most cost efficient option moving forward will be our Comprehensive Estate Planning where you will get all new documents - $5900 “ , to which I replied what “ My trust is a folder that is 3 inches thick. I don’t know what you meant by only 16 pages long. As for $5900.00. According to Google A detail estate planning costs $900 to $5950. Mine is simple. … I have no houses, no exotic cars, no sail boats, nothing physical that I want to give away. I don’t know why it will cost me $5900.00. “. Rebecca didn’t respond to my question . She just replied I need to redo my 5 health directive.
I called 2 attorneys from a list suggested by Fidelity. One quoted $3500 to $5000.00 and another quoted $4000 to $6000 . Both said the price depends on complexity. If I have multiple properties, own business, limited partnership etc, then it will be at the higher end of the range. She said in my case, it would be more toward the lower end of the range or around $3000 , less than half of what G & L wanted .
At that point, I felt that Rebecca’s price is way of line . I got the impression that $1050 is a done deal, a bit more or a bit less. I agreed to move forward after the initial 30 minutes free consultation. Her suggestion of “Comprehensive Estate Planning “ wasn’t warranted because mine is simple. I called Rebecca I am cancelling the next appointment, reminding myself that her rate of $525.00 per hour . I told her I will pick up my trust folder. When I showed up her staff returned my folder , plus a check for $656.50. I paid $1050.00 so her company spent $393.50. The invoice itemized each email and time spent reviewing the old trust. I counted 9 email responses costing $187.00 or $21.00 per email response on the average . So after spending $393.50, I accomplished absolutely nothing.
By chance I found a company called The Document People near Topanga Canyon and Ventura Blvd on Google. I called them. Andrea answered. I also watched their video in preparation for that. The quote was $799 for single. $899 for couple. All I have to do is to setup an appointment, come in and fill out some forms ( to start from scratch ), return to sign some forms . Regardless of complexity, it takes about 1 week. Appointments were readily available. Email and phone responses incur no charges ( as opposed to to G & L where I can be charged for that )
I just got my trust updated for $399.00 last Tuesday. I lost $393.50 . but I saved $5500.00
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27 Aug, 2024 by Райхона исомиддинова
06 Aug, 2024 by Brad altfest
Positioned themselves as a full-service practice at a critical time when I was moving my mom from out of state to be better able to take care of her. Every one of their "specialists" knew nothing about their supposed subject area, except to refer me to other for pay professionals outside the practice. Then, when I would ask the questions the practice couldn't answer, they would tell me that that was something that the practice should have been able to answer for me. Literally got more value out of the utterly free services from the retirement community center around the corner from my apartment. Also blew through $600.00 of the $1,000 retainer and literally produced nothing of any substance. And had the gall to tell me that the complete, straightforward, out of state estate documents I had and just needed to be brought into compliance with California law would have to be completely redone from scratch because of one missing addendum of absolutely no consequence. Do not recommend.
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What an Intellectual Property Lawyer Can Do for You
An intellectual property (IP) lawyer specializes in protecting the rights related to creations of the mind, including inventions, designs, logos, brands, artistic works, and trade secrets. IP lawyers help clients secure legal rights to their intellectual property, enforce those rights, and defend against infringement claims. They can also assist with licensing agreements, negotiating royalties, and managing intellectual property portfolios.
Whether you're a business seeking to protect a trademark, an inventor patenting a new product, or an artist protecting your work from unauthorized use, an intellectual property lawyer ensures that your creations are legally safeguarded and helps you navigate the complex landscape of IP law.
When Should I Hire an Intellectual Property Lawyer?
Hiring an intellectual property lawyer is beneficial in many situations where you need to secure, protect, or defend your intellectual property rights. Key scenarios include:
- Filing a patent: If you've invented a new product or process, a lawyer can help you apply for a patent and ensure the protection of your invention.
- Trademarking a logo or brand name: To protect your business's brand identity, a lawyer can assist in trademarking logos, names, slogans, or symbols.
- Copyright protection: If you’ve created an original work (e.g., a book, music, or software), a lawyer can help you register your copyright and ensure your rights are protected.
- Trade secrets protection: For businesses with proprietary information, a lawyer can draft agreements to protect trade secrets and ensure they remain confidential.
- Defending against infringement: If someone is using your intellectual property without permission, a lawyer can help you take legal action to stop the infringement and seek damages.
- Licensing agreements: If you want to allow others to use your intellectual property for a fee, an IP lawyer can draft or negotiate licensing agreements that protect your interests.
- IP portfolio management: If you have multiple forms of intellectual property, a lawyer can help you manage your IP portfolio, ensuring all assets are protected and strategically utilized.
Hiring a lawyer early in the process can help you avoid legal pitfalls and ensure that your intellectual property is adequately protected from the start.
What Does an Intellectual Property Lawyer Do?
An intellectual property lawyer provides a wide range of services to protect and enforce your intellectual property rights. They can:
- File patents and trademarks: Helping you prepare and submit patent or trademark applications to protect your inventions, brands, or logos.
- Register copyrights: Assisting with the registration of original creative works to ensure your rights are protected under copyright law.
- Litigate infringement cases: Representing you in court if your intellectual property has been used without authorization or if you're accused of infringement.
- Draft licensing agreements: Creating contracts that allow others to use your intellectual property while ensuring you retain control and receive appropriate compensation.
- Manage IP portfolios: Helping businesses and individuals manage multiple forms of intellectual property, including patents, trademarks, copyrights, and trade secrets.
- Conduct due diligence in business deals: Ensuring that intellectual property assets are properly valued and protected during mergers, acquisitions, or licensing agreements.
- Monitor and enforce IP rights: Monitoring for potential infringement and taking legal action when necessary to protect your IP from unauthorized use.
How Are Intellectual Property Lawyers Paid?
Intellectual property lawyers typically charge for their services in different ways, depending on the complexity of the work and the type of intellectual property being protected. Common payment structures include:
- Flat fee: For specific services such as filing a trademark or copyright application, many lawyers charge a flat fee that covers all the work required for that service.
- Hourly rate: For more complex tasks, such as drafting licensing agreements or litigating infringement cases, lawyers may charge by the hour. Hourly rates vary depending on the lawyer’s experience and location.
- Contingency fee: In some cases, particularly for IP litigation, a lawyer may work on a contingency basis, meaning they only get paid if they win or settle the case. Their fee would typically be a percentage of the settlement or damages awarded.
- Retainer: For ongoing IP needs, some clients may pay a retainer fee upfront to secure the lawyer’s services, which the lawyer then bills against as they work on the case.
It’s essential to discuss fees and payment arrangements with your lawyer upfront to ensure there are no surprises.
How Much Does an Intellectual Property Lawyer Cost?
The cost of hiring an intellectual property lawyer depends on the complexity of the case and the type of intellectual property involved. General cost estimates include:
- Trademark registration: The cost of registering a trademark can range from $500 to $2,000, depending on the complexity of the application and whether there are any issues during the registration process.
- Patent filing: Filing a patent is often more expensive, with costs ranging from $5,000 to $15,000 or more, depending on the type of patent (utility, design, etc.) and the complexity of the invention.
- Copyright registration: Registering a copyright is usually less costly, with fees typically ranging from $300 to $1,500 for most creative works.
- Litigation: If you’re involved in an IP dispute or infringement case, litigation can be costly, with fees ranging from $10,000 to hundreds of thousands of dollars, depending on the complexity and duration of the case.
- Licensing agreements: Drafting or negotiating a licensing agreement can range from $1,000 to $5,000 or more, depending on the terms and complexity of the agreement.
Always get a clear estimate of costs during your initial consultation to ensure that the services are within your budget.
Top Questions to Ask an Intellectual Property Lawyer
Before hiring an intellectual property lawyer, it’s essential to ask questions that will help you determine if they are the right fit for your case. Here are some key questions to ask:
-
What experience do you have with intellectual property law?
Ensure that the lawyer has substantial experience with your specific type of intellectual property, whether it’s patents, trademarks, copyrights, or trade secrets. -
How do you charge for your services?
Clarify whether the lawyer charges by the hour, a flat fee, or contingency, and get a clear estimate of what your case will cost. -
What is the likelihood of success with my application or case?
A good lawyer should provide an honest assessment of the chances of successfully obtaining a patent, trademark, or copyright or winning an infringement case. -
How long will the process take?
Ask about the expected timeline for filing your application or resolving your dispute, as IP matters can sometimes take months or years to finalize. -
What steps will you take to protect my intellectual property?
Ask the lawyer how they will help ensure your intellectual property is fully protected and what strategies they use to enforce IP rights. -
Have you handled cases similar to mine?
If your case involves specific industries or technologies, ask whether the lawyer has worked with similar clients and what the outcomes were.
How to Check the Credibility of an Intellectual Property Lawyer
To ensure that you’re hiring a reputable intellectual property lawyer, take the following steps:
- Check their standing with the state bar: Verify that the lawyer is licensed to practice in your state and has no history of disciplinary actions.
- Look for specific IP experience: Check their website or professional profile to ensure they specialize in intellectual property law and have successfully handled cases like yours.
- Read client reviews and testimonials: Look for reviews on platforms like Avvo, Martindale-Hubbell, or Google to see what past clients have said about their experience with the lawyer.
- Ask for references: A reputable lawyer should be willing to provide references from past clients who can speak to their professionalism and success in handling IP matters.
- Check for certifications or memberships: Membership in organizations like the International Trademark Association (INTA) or the American Intellectual Property Law Association (AIPLA) can indicate expertise in intellectual property law.
What Should I Prepare for My First Consultation?
To get the most out of your first meeting with an intellectual property lawyer, it’s important to come prepared with relevant information and documents. Here’s what you should bring:
- A detailed description of your invention, brand, or creative work: Be prepared to explain what you are seeking to protect, including any unique aspects or characteristics of your intellectual property.
- Any existing IP registrations or applications: If you’ve already filed for trademarks, patents, or copyrights, bring copies of the relevant documents.
- Information on potential infringers: If you are dealing with an infringement issue, provide details of the alleged infringer, including evidence of the infringement, such as images, documents, or correspondence.
- Questions about the process: Write down any questions you have about protecting or enforcing your intellectual property rights, including timelines, costs, and potential outcomes.
- Your goals: Be clear about what you want to achieve, whether it’s securing a patent, protecting a brand, or enforcing your IP rights against unauthorized use.
Being prepared for your first consultation will help the lawyer assess your situation more effectively and provide you with the best possible advice for protecting your intellectual property.
