Intellectual Property Lawyers
What is intellectual property?
Broadly speaking, intellectual property is ownership of the intangible products of human intellect and creativity. The purpose of intellectual property law is to encourage creation by giving creators property rights to their creations for a limited period of time so that they can profit from the intellectual goods they create. Intellectual property law includes patents, copyrights and trademarks.
What does an intellectual property lawyer do?
Intellectual property attorneys represent creators of intellectual property, which may be either businesses or individual artists, musicians, authors, software developers and so on. Some of the matters an IP lawyer might be involved with include:
- Applying for patents, copyrights and registered trademarks.
- Advising on licensing, franchising, distribution and technology transfers.
- Drafting licensing agreements and related contracts.
- Conducting IP asset due diligence (that is, auditing a company’s intellectual property portfolio).
- Analyzing a particular asset to determine which components can be patented and which cannot.
- Handling intellectual property disputes and enforcement, including negotiation and litigation.
Some intellectual property disputes go to trial, but the overwhelming majority settle out of court. Effective intellectual property lawyers are skilled in both drafting documents and negotiating to settle IP disputes. They may also consult on creative ideas to help their clients increase the value of their intellectual property portfolios.
How much does an intellectual property lawyer cost?
Most intellectual property legal work is billed by the hour. Depending on the type of work and the complexity of the individual matter, you can expect to pay anywhere from $275 to $800 per hour. Rates are generally higher in major metropolitan areas, and of course, more experienced attorneys tend to charge more for their expertise. Keep in mind that many intellectual property matters have additional costs (such as government fees) that are separate from the attorney’s fee.
How can I choose the right intellectual property lawyer?
Intellectual property law is complicated and varies significantly by creative discipline. It’s important to choose a lawyer who has a background specifically in IP matters in your field; for instance, if your business creates computer software, you ideally want an IP lawyer who has experience with software patents and copyrights.
As with so many things in life and business, preventing intellectual property disputes is much less costly than trying to defend your intellectual property once there is a problem. If you create, talking to an intellectual property lawyer in your area sooner than later is a key step.
