Do patent attorneys ever trade services for a partnership in the invention? 3 Answers as of November 16, 2010

Do patent attorneys ever trade services for a partnership in the invention?

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Fish & Associates, PC
Fish & Associates, PC | Robert D. Fish
Patent attorneys and agents can reduce their billings for equity in a company, for a percentage of expected profits or revenue, or for some other benefit. But it cannot be trade because that would violate tax laws. Any benefit provided to the attorney/agent is taxable ("all income from whatever source received"). Patent attorneys and agents can only be designated inventors or co-inventors if in fact they are inventors or coinventors of the claimed subject matter. In that sense they cannot agree to be "partners" in an invention.
Answer Applies to: California
Replied: 11/16/2010
Ochoa and Associates
Ochoa and Associates | Susan Ochoa Spiering
Some do, but there are issues with attorneys in general trading services for partnerships in companies, and while it is not illegal or unethical, there needs to be an agreement in place with clearly defined terms.
Answer Applies to: Texas
Replied: 11/15/2010
Mark S. Hubert PC
Mark S. Hubert PC | Mark Hubert
We are offered this all the time but it really is a conflict of interest. Each state has different laws for their attorneys so I cant answer this other than to give you a general answer.
Answer Applies to: Oregon
Replied: 11/15/2010
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