What are the legal fees associated with selling a patent? 2 Answers as of September 22, 2010

I am seriously thinking about selling a patent. I am looking for a patent law firm to help write the terms of the sale and to help in negotiation. How are the legal fees usually calculated in a situation like this? Will they take a percentage of the sale price?

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Kafantaris Law Group
Kafantaris Law Group | Theo Kafantaris
The negotiation and terms of the sale are related to general business and contract law as opposed to patent law. After the negotiation and sale, a patent attorney can help you with the actual assignment of rights to a third party for a low fee. Feel free to contact me if you would like help with this process.
Answer Applies to: California
Replied: 9/22/2010
Mark S. Hubert PC
Mark S. Hubert PC | Mark Hubert
A fair law firm should just charge you for any time consulting you, any time on negotiating the sale on your behalf and the time to draft the sales agreement. Generally when I do these I counsel the client on what to bargain for (give him a wish list) then let him negotiate his best deal. Then I review it and draft it for signatures. On overage I would say this runs from $750 to $1500. So unless you are selling the patent for less than $4500 and the law firm only wants 33% - I would not let any law firm take a percentage of the sale. I personally have never taken a percentage - it is a conflict of interest in my state.
Answer Applies to: Oregon
Replied: 9/22/2010
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