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Author Topic: Patent Agents & Malpractice Insurance  (Read 1785 times)

Adios Pantelones

  • Guest
Patent Agents & Malpractice Insurance
« on: 01-29-05 at 07:17 pm »

I am an agent with two years of drafting & prosecution experience and was contacted recently by an independant inventor asking for help writing (and eventually prosecuting) a few patent applications. He had approached some local law firms but they either didn't deal w/ independant inventors or the fees were prohibitively expensive.
I would like to help this guy but I do not work for a law firm and don't have malpractice insurance.

What should I do?

PS. I have been completely honest with him as to my prep/pros. experience, areas of technical expertise, and lack of insurance.
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Wiscagent

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Re: Patent Agents & Malpractice Insurance
« Reply #1 on: 01-30-05 at 05:39 am »

I have a related question - Does anyone know, or could they reasonably estimate, the frequency of malpractice suits related to patent application and prosecution?  Also, in malpractice suits related to patent application and prosecution does anyone know the typical range for settlements or judgments?

I'm wondering if it would be a prudent choice for a practitioner who only works on patent applications and prosecution, to forego malpractice insurance.
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Question for "Adios Pantelones:" Do you wear kilts?
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Richard


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Richard Tanzer
Patent Agent

Adios_Pantelones

  • Guest
Re: Patent Agents & Malpractice Insurance
« Reply #2 on: 01-30-05 at 08:08 am »

Wiscagent--

only if I'm asked nicely.

Adios
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Pat agent 007

  • Guest
Re: Patent Agents & Malpractice Insurance
« Reply #3 on: 01-31-05 at 10:18 am »

The risk involved in doing patent work is one of the top reasons I've avoided going solo.

I absolutely would not do patent work for anyone without malpractice insurance.

I don't know how frequently these types of suits come up; probably no way of knowing since they are probably settled out of court fairly often.

I have heard that the settlements can be HUGE.  For example, I've heard of one case that involved an independent inventor who received an 8-figure settlement.  

Remember that you may do everything right, but it's no less expensive to defend yourself from a disgruntled inventor who decides to sue you because he/she doesn't get a patent.
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