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Archived updates for Monday, March 07, 2005

Budgeting for IP Litigation

According to a February 24, 2005 article from Foley & Lardner, IP litigation budgets basically are constructed by reference to five sources of information:
  1. Client goals for the case
  2. Law firm and lawyer experience with litigation costs for cases of this type
  3. External sources of experiential information such as the American Intellectual Property Law Association Economic Survey
  4. Tasks expected to be performed during the case
  5. Case timeline

The author concludes that one of the most reliable indicators of case expense is the amount of time from filing the complaint to verdict. But, "No matter how carefully the five budget sources are used, no budget will be satisfactory unless client and counsel understand the assumptions and expectations that went into the budget."

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