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   Insurance, SOLO Patent Attorney
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   Author  Topic: Insurance, SOLO Patent Attorney  (Read 1220 times)
dab2d
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Insurance, SOLO Patent Attorney
« on: Jun 26th, 2006, 9:20am »
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I am a PA barred attny and moving to So. Cal. I was wondering if any of you knew of a good insurance company, because as a solo in patents, I am not finding many takers. I am moving because of my wife and I am worried that i cannot form an LLC there. If you have any suggestions for a good insurance company or ways to create a good liablity shelter, I am all ears.  
 
Thanks
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Isaac
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Re: Insurance, SOLO Patent Attorney
« Reply #1 on: Jun 26th, 2006, 9:32am »
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Have you looked at insurance offered through NAPP?
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Isaac
Bill Richards
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Re: Insurance, SOLO Patent Attorney
« Reply #2 on: Jun 26th, 2006, 12:15pm »
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Will you be practicing as an attorney in CA?  At least in Ohio, the LLC statutes explicitly prohibit an attorney from sheltering himself from personal liability through an LLC.  Check the statutes closely, you may think you're sheltered when you're not.
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William B. Richards, P.E.
The Richards Law Firm
Patents, Trademarks, and Copyrights
614/939-1488
Isaac
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Re: Insurance, SOLO Patent Attorney
« Reply #3 on: Jun 26th, 2006, 12:21pm »
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I don't believe any state allows an attorney a shield from their own malpractice by forming a business entity.  An LLC shields attorneys from the liability of their partners (or whatever the equity sharers in an LLC are called) if the attorney is not involved in the tortious activity.  You protect yourself by getting insurance.
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Isaac
JimIvey
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  jamesdivey  
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Re: Insurance, SOLO Patent Attorney
« Reply #4 on: Jun 26th, 2006, 1:23pm »
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FWIW, my understanding is that California is the same.  You can use business entities to shield yourself from willful misconduct by a partner but you're pretty much on the hook otherwise.
 
And, if I'm not mistaken, this unavailability of protection afforded by the corporate structure is limited to attorneys.  
 
Regards.
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James D. Ivey
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