Everything's Negotiable: How Corporations Can Drastically Reduce Their IP Legal Costs without Sacrificing IP Quality

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For most corporate buyers of IP legal services the ability to obtain substantive cost reduction has been somewhat limited due to the lack of transparent information available about legal fees. IP law firms have benefited markedly from the lack of pricing transparency. This effectively allows IP lawyers to set the baseline for negotiation on legal fees. This is starting to change, however. The difficult economic times has made corporate buyers of legal services more savvy about negotiating with IP law firms. This article discusses why it has traditionally been so difficult for corporations to reduce their legal costs and provides anecdotes about how corporations can extract deep discounts from prestigious law firms.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jackie Hutter, IP Strategist, The Hutter Group LLC: IP Business Strategy | Attorney Advertising

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