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IP Litigators: Worth Their Weight in Gold?
Competition for intellectual property litigators is red-hot, and firms are writing much bigger checks to capture them.
[Law.com]
Patent litigators are a must-have item for firms. And they’re willing to pay for them. Constantly changing technology, consolidation of industries, and the increasingly cross-border nature of IP battles are expanding the size and scope of patent cases. The median cost to take a patent case through trial in 2005 was in the $5 million to $6 million range, up from $2 million in 1995, according to the American Intellectual Property Law Association. All of which means that firms are missing a potential fee bonanza if they don't have enough lawyers on hand to do the work.
But several factors are working against firms trying to build a big patent litigation practice. Law schools pump out only a handful of graduates each year with the technical backgrounds necessary for patent law. Even with that background, it takes years to acquire the basic skills needed to run a patent case. And there’s fierce competition among firms for the few with that talent.
But firms with little experience in patent and other IP matters should be careful. As The IP Law & Business reported last June, some of New York’s leading dealmakers have had trouble hiring and keeping patent litigation laterals.
To read the entire article > click here
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