So I'm thinking about starting my own firm...

[tm-counsel]

So I'm thinking about starting my own firm... mainly concentrating on trademark registrations and office actions.

I am familiar with the registration process and I have some experience in litigation (non-ip), but I don't know the first thing about setting up shop. I have a small book of clients that'll help keep the lights on while I try to get things going.

For those of you that have been through this, do you have any tips or pointers you could give a newbie. Any books or forms, treatises, software, etc.

Also, I have been looking at getting a small office but some of my friends who set up their own practices recommended virtual offices to keep overhead costs low.

Thanks in advance guys. I've been a long time lurker of this forum and have tried to absorb as much wisdom as I can and would appreciate any and all advice.

[MYK]

Hit your local law school's library (assuming it's open to the public -- mine is, but it's a federal depository library).  There are books with titles like "How to set up your own law practice for only $3,000".  You can buy them, too (Try PLI, then Amazon).  Likewise, there are form books available;  I think the popular ones for Illinois are by IICLS.

For office space, a CPA friend came up with an interesting solution -- her condo complex has an "office" that can be reserved by the hour as a space for meeting with clients (a nice selling point for the solo-professionals housing market).  When the client leaves, it's back to her "home office" in the second bedroom of her condo to do the actual work.

[klaviernista]

I've spent a lot of time thinking about setting my own shop up recently as well.  Primarily because New Hampshire is not exactly a hot bed of IP, and secondarily because I want to move even further north (where the opportunities get even slimmer).

I haven't read the book MYK mentioned, but I'm sure they are a good place to start.  As for online resources, check out www.myshingle.com.  I have found that there is some solid practical advice on that site, as well as a lot of resources for the solo or would be solo practitioner.

Another option for breaking into the "solo" practice arena would be to first associate with one or two attorneys with similar or complementary practices.  It doesn't have to be a formal partnership.  Just an arrangement whereby you can learn the challenges of small firm practice, while still having someone real to turn to for advice.

Because I am a bit of a wuss, I personally am leaning towards associating with a very small firm first, before opening my own shop.  If you are more of a "jump in with both feet" kind of guy/gal, then by all means go for it!

Best,

Klav

[artchain]

Advice for any new business...

Be fanatical about keeping expenses down.  A friend's small business hit a rough spot after about 5 years when the economy tanked.  She was forced to cut costs where ever she could.  Found a phone plan that saved $20 a month.  Shopped around for a new insurance company and saved a few hundred bucks.  Canceled the magazine subscriptions that nobody read.  Renegotiated  her office lease.  Ended up saving about $1500 per month.   As she said, if she kept those costs down from the day she started the business, she would have had tens of thousands of dollars of extra cushion in the bank when things got bad. 

And yes, going virtual can be a *great* idea if you can find a decent place when you need to meet clients. 

Also,  here are some resource ideas when starting a new business:

http://www.wygk.com/biz/starting-a-business.html

[tm-counsel]

Thanks for the great advice so far. I've went through the posted sites and I've obtained a copy of Solo by Choice which is a quick and enjoyable read.

I've set up a meeting with Regus to go look at some office space later in the week (moving quick I know!).


I'm debating what books and references to buy. What did you guys find useful? Current firm has Kane and whatever the West reference is, but I rarely use them. Just to be on the safe side, I thought I'd pick up something though.

[JSonnabend]

Thanks for the great advice so far. I've went through the posted sites and I've obtained a copy of Solo by Choice which is a quick and enjoyable read.

I've set up a meeting with Regus to go look at some office space later in the week (moving quick I know!).


I'm debating what books and references to buy. What did you guys find useful? Current firm has Kane and whatever the West reference is, but I rarely use them. Just to be on the safe side, I thought I'd pick up something though.

The only paper reference I ever use is FRCP handbook, and that's rare.  Check out http://www.law.cornell.edu/ for great materials (including the cfr, usc and frcp).  The TMEP and MPEP are online, as are most Fed Cir cases (although without good pagination).

I also suggest getting a basic WL account if you are going to do any litigation at all, including UDRP stuff (although I have an associate who swears by freely available materials).

- Jeff

[Kaitlin]

Good thoughts, all.

Here's a few additional ones re setting up business as an attorney:

Re solo work generally, Jay Foonberg's "How to Start and Build a Law Practice" is a well-respected classic.  Available through Amazon.
He has a website at:  foonberglaw.com.

Re trust accounts.
--Make sure you're absolutely up to date re your jurisdiction's rules on attorney trust accounts.  Find a good local CLE on this.  As head of your firm YOU are the one on the line for this--so make sure you keep tabs on whoever handles your accounts.  This may be the easiest and perhaps worst way to mess up.
--And if you're a member of more than one bar of proximate jurisdictions, make sure that the bank you choose for the IOLTA/trust account is OK with both jurisdictions.  E.g. There's a bank which was recommended by the MD bar some years back (because it paid a nice interest amount to the IOLTA) but which was not among the DC bar approved banks for trust accounts.

Good luck.
K

[justin_yu]

I am running a firm in China.
My firm's website is: http://e.lawyer8.com/
We can establish a relationship on any China IP matters when your firm was founded.