Texas has found its place on the map as a hot spot for legal action, particularly for patent infringement lawsuits. Texas lawyers are very busy, and with good reason. Texas lawyers are moving the patent infringement lawsuits in Texas along faster than any other state. Patent infringement in Texas is not necessarily that high, but the number of cases in Texas comes in well over the national average.
Only the central District of California will handle more lawsuits than Texas, and this is big news for small towns in Texas. Texas lawyers have been able to expedite cases, and thus Texas is making its mark on the map with major corporations as the place to be for a lawsuit.
Resolving cases of patent infringement in Texas means less down time for the companies involved, and means big business for small towns of the Lone Star State. Hotels, restaurants, and other small businesses are benefiting well from the onslaught of lawsuits involving patent infringement in Texas.
Texas lawyers are handling the bulk of the cases, typically representing the claimants, while patent lawyers from New York, California, Colorado, Maine, Florida, and Oregon have all gotten a reasonably well paid tour of the state of Texas.
The Texas courts have seen the parade of Texas lawyers as well as their national counterparts and maintain the expectation for more in the future. With the national increase in lawsuits it is completely believable that this year Texas lawyers will top their current record of 234 cases in the Eastern District alone.
With patent infringement in Texas becoming such big business for small town America, you would think the big cities were missing out. Not at all. The large cities such as Houston are certainly holding their own in the count of cases coming through Texas. So why is there such a heavy interest in bringing it to Texas?
Texas has a much higher claimant award average than anywhere else in the country. While several sources quote various numbers, the conservative figure is 78% of cases are judged in favor of the patent holders which is quite a difference from the national average of 59%. Investigations into this high number has come up with generalized reasoning.
The Texas juries which were polled stated that they made their decisions based on the letter of the law, not a "loose interpretation of the law" as some state they were asked to do by the defense lawyers. Others state that the cases are just so obvious, that it was very clear that the patent violators knew or should have known that the patent was already in existence.
Cases regarding patent infringement in Texas are expected to grow, and Texas lawyers are prepared for the job. Just as the cases in Texas are agreeably sized as everything else in Texas, so are the verdicts. Cases involving it in Texas are subject to judgment awards as large as everything else in Texas. Some Texas lawyers state that this is due to the understanding of the potential financial devastation that stealing from another company can bring. Texans seriously look down upon stealing, which is what most patent infringement equates to.
Obviously, Texas lawyers are quite skilled at what they do, and when it comes to protecting patent rights, skill of the lawyer means everything. Patent infringement in Texas means results for claimants. Texas lawyers are serious about the results they bring in for their claimants. Thus, it would make sense that if you're in need of a patent infringement lawyer and are in need of results, Texas would be the place to look.
After such a high peak in Texas patent infringement cases, it would be reasonable to believe that the peak is over, and that there will soon be too many Texas lawyers, But the truth seems to be revealing itself a bit differently, as patent infringement in Texas is still only second to the central district of California. What does this mean for the future of patent infringement in the United States? Only time will tell. But as of right now, if you're in need of a lawyer, the place to be is, or course, Texas.
Sunday, August 30, 2009
Taking Your Auto Accident Case to Court
Your auto accident lawsuit is the biggest thing on your mind almost all of the time. Everyday you come up with more questions and new scenarios to ask your auto accident lawyer about because you feel you need to win this. You believe you need to win this not because just because you're falling farther behind in the bills and you still aren't sure when you'll be able to return to work, but because the other driver was so incredibly out of line with his behavior behind the wheel and after the accident, there is no other form of justice out there for you.
The opposing side has offered you a fair injury settlement, but you turned it down based on principle and your auto accident lawyer's judgment that a jury would hear your side loud and clear. You can't sleep because you wonder about your auto accident lawsuit, you worry about the bills, you're scared of how your physical condition may or may not progress. Your life has been turned upside down by one driver's reckless thoughtlessness, and you've been left to deal with it.
Turning down a personal injury settlement was a big step for you. You and your family could have sued for the money now, but there's this part of you that knows your auto accident lawyer was accurate when he told you that juries are offended by people who lack compassion for those they hurt, and the other driver has seriously lacked compassion for you since the moment you were pulled from the mangled car alive.
There isn't a personal injury settlement that he could offer that would erase the nightmares you've had or the depression your kids have watched you go through. And he never even apologized for the accident, a simple human courtesy and it was too much for him. You're angry. You wonder if you turned down a good deal when he offered the personal injury settlement because you're angry at what this has done to your life.
It's 3 o'clock in the morning and you desperately want to call your auto accident lawyer and ask him if that's what you did. You want to make wise decisions right now, not ones based on anger. By 4 o'clock you will have realized that you turned down the personal injury settlement offer because you knew in your heart it wasn't a fair offer.
Taking your auto accident lawsuit to court will be a continuation of this roller coaster ride that has kept you awake at night for months. Some days you feel ready and you can't wait to get this all behind you and other days you don't think you'll ever be ready and you secretly hope that the day to go to court will never come.
You have the utmost faith in your auto accident lawyer, and know that they are competent. You have asked every question you could possibly think of and your auto accident lawyer has answered them all patiently, directly, and as honestly as possible. Your auto accident lawyer discussed the personal injury settlement offer with you several times from various different angles, and you know in your heart that your auto accident lawyer was giving you solid advice.
These emotions, the fear, the anxiety, the stress, and the chronic questioning will eventually dissipate, although for many people, the roller coaster doesn't end until the auto accident lawsuit does. It is a big deal when your life is changed beyond your control, and your only recourse is an auto accident lawsuit. You have the courage of your convictions to take it to court, and you are comfortable with your decision.
In the event that the stress of an auto accident lawsuit is inhibiting your sleep or you are chronically concerned about a personal injury settlement offer you turned down in favor of taking your auto accident lawsuit to trial, you may want to seek a little professional counseling.
These things are very stressful, and no matter how competent and wonderful your auto accident lawyer is, a huge stressor is exactly that. There is no shame is determining that the stress of taking your auto accident lawsuit to court is costing you sleep. Sometimes talking about the accident, how it changed your life, and where to go from this moment on is the healthiest thing that a victim can do. Obsessing about your auto accident lawsuit isn't going to help.
Finding a balance, understanding your reasons for declining a personal injury settlement offer, and knowing that there is joy in the world even if you aren't awarded a dime is the healthiest place you can go. Once you can positively deal with your auto accident lawsuit, it will turn out much better for you.
The opposing side has offered you a fair injury settlement, but you turned it down based on principle and your auto accident lawyer's judgment that a jury would hear your side loud and clear. You can't sleep because you wonder about your auto accident lawsuit, you worry about the bills, you're scared of how your physical condition may or may not progress. Your life has been turned upside down by one driver's reckless thoughtlessness, and you've been left to deal with it.
Turning down a personal injury settlement was a big step for you. You and your family could have sued for the money now, but there's this part of you that knows your auto accident lawyer was accurate when he told you that juries are offended by people who lack compassion for those they hurt, and the other driver has seriously lacked compassion for you since the moment you were pulled from the mangled car alive.
There isn't a personal injury settlement that he could offer that would erase the nightmares you've had or the depression your kids have watched you go through. And he never even apologized for the accident, a simple human courtesy and it was too much for him. You're angry. You wonder if you turned down a good deal when he offered the personal injury settlement because you're angry at what this has done to your life.
It's 3 o'clock in the morning and you desperately want to call your auto accident lawyer and ask him if that's what you did. You want to make wise decisions right now, not ones based on anger. By 4 o'clock you will have realized that you turned down the personal injury settlement offer because you knew in your heart it wasn't a fair offer.
Taking your auto accident lawsuit to court will be a continuation of this roller coaster ride that has kept you awake at night for months. Some days you feel ready and you can't wait to get this all behind you and other days you don't think you'll ever be ready and you secretly hope that the day to go to court will never come.
You have the utmost faith in your auto accident lawyer, and know that they are competent. You have asked every question you could possibly think of and your auto accident lawyer has answered them all patiently, directly, and as honestly as possible. Your auto accident lawyer discussed the personal injury settlement offer with you several times from various different angles, and you know in your heart that your auto accident lawyer was giving you solid advice.
These emotions, the fear, the anxiety, the stress, and the chronic questioning will eventually dissipate, although for many people, the roller coaster doesn't end until the auto accident lawsuit does. It is a big deal when your life is changed beyond your control, and your only recourse is an auto accident lawsuit. You have the courage of your convictions to take it to court, and you are comfortable with your decision.
In the event that the stress of an auto accident lawsuit is inhibiting your sleep or you are chronically concerned about a personal injury settlement offer you turned down in favor of taking your auto accident lawsuit to trial, you may want to seek a little professional counseling.
These things are very stressful, and no matter how competent and wonderful your auto accident lawyer is, a huge stressor is exactly that. There is no shame is determining that the stress of taking your auto accident lawsuit to court is costing you sleep. Sometimes talking about the accident, how it changed your life, and where to go from this moment on is the healthiest thing that a victim can do. Obsessing about your auto accident lawsuit isn't going to help.
Finding a balance, understanding your reasons for declining a personal injury settlement offer, and knowing that there is joy in the world even if you aren't awarded a dime is the healthiest place you can go. Once you can positively deal with your auto accident lawsuit, it will turn out much better for you.
Car and Truck Accidents and Whiplash Injury
Car, truck, and other vehicle accidents often result whiplash injuries. Whiplash injuries occur at various speeds and even low impact collisions have shown to cause whiplash and other soft tissue injury. What usually happens is that soft tissue is stretched beyond its elastic limitations, meaning it reaches a point when it loses its elasticity and cannot rebound to its normal position.
Whiplash injury occurs in car accidents when a person's vehicle is applied force usually, by another vehicle. The head is pushed in one direction and then when the vehicle is stopped the head is pushed in the opposite direction, this is what causes the soft tissue around the neck to stretch, often beyond its elastic limitations, this is often a source of not only neck pain, but also headaches.
Seat belts have been effective in saving lives, but there are also studies which indicate that the very same seat belts increase the risk of whiplash injury or injury to the neck. The seat belts keep the body and place, but the head is left with no protection and the rotation and forces applied to the head cause strain and injury to the neck. In at least one study it was determined that accident victims were more likely to suffer cervical injury (neck) when they were wearing seatbelts by a factor of 1.58 to 1.
Insurance companies often rely on engineers to testify in court concerning the forces applied as a determining factor as to whether or not there is injury. More often than not there is a reference to Delta-V, but studies have shown that injury cannot be predicted solely by knowing the delta-V of a collision. Even under controlled conditions the delta-V was insufficient to determine whether an injury would occur or not. Delta V is simply an equation taken from physics showing a change in velocity.
The typical crash analyses involves an engineer looking at pictures of the crashed car and then looking at a repair estimate to determine how it compares to similar cars or the same model car that have been crashed tested. The biggest problem with this analyses is that it is comparing apples to oranges. The crash tested vehicles are generally tested against a solid wall, where the actual crash for the injury claimant has crashed with another vehicle. The tested crash is under control conditions and the crash is done with great care. The real world crash has no such conditions. The timing in the crash is different for each crash the location of the damage varies. The angles of the vehicles at the time of the collision, the seating position of the driver and passengers, and the direction where the persons face varies in every single accident.
Injury cannot be predicted for any one individual because individuals vary greatly. Everyone has a different posture, different tensile strength of the ligaments, a different position in the vehicle at the time of the collision, different spinal canals, a different nervous system, and reaction to stimulus. Any one person can also change from month to month, maybe one started exercising three weeks ago, or changed the diet substantially, or had another injury, or over stressed the body.
Insurance companies nonetheless relay on these engineers to testify consistently on claims that low impact collisions cannot cause injury. Accident reconstructionists often use software to calculate speeds of impact by looking at several factors, sometimes just pictures. The software is usually not accurate enough for low impact collisions and the results can vary in extremes from engineer to engineer. The calculated speed for the collision varies greatly depending on how the calculations are entered, most software cautions that it is not reliable for low speeds and studies have shown that these computations are unreliable. The results also vary depending on the relationship between the engineer doing the calculations and the insurance company paying the tens of thousands of dollars to the engineer.
In addition to the engineers, insurance companies also hire medical doctors and chiropractors to render opinions. Opinions which are more likely than not biased.
Whiplash injury occurs in car accidents when a person's vehicle is applied force usually, by another vehicle. The head is pushed in one direction and then when the vehicle is stopped the head is pushed in the opposite direction, this is what causes the soft tissue around the neck to stretch, often beyond its elastic limitations, this is often a source of not only neck pain, but also headaches.
Seat belts have been effective in saving lives, but there are also studies which indicate that the very same seat belts increase the risk of whiplash injury or injury to the neck. The seat belts keep the body and place, but the head is left with no protection and the rotation and forces applied to the head cause strain and injury to the neck. In at least one study it was determined that accident victims were more likely to suffer cervical injury (neck) when they were wearing seatbelts by a factor of 1.58 to 1.
Insurance companies often rely on engineers to testify in court concerning the forces applied as a determining factor as to whether or not there is injury. More often than not there is a reference to Delta-V, but studies have shown that injury cannot be predicted solely by knowing the delta-V of a collision. Even under controlled conditions the delta-V was insufficient to determine whether an injury would occur or not. Delta V is simply an equation taken from physics showing a change in velocity.
The typical crash analyses involves an engineer looking at pictures of the crashed car and then looking at a repair estimate to determine how it compares to similar cars or the same model car that have been crashed tested. The biggest problem with this analyses is that it is comparing apples to oranges. The crash tested vehicles are generally tested against a solid wall, where the actual crash for the injury claimant has crashed with another vehicle. The tested crash is under control conditions and the crash is done with great care. The real world crash has no such conditions. The timing in the crash is different for each crash the location of the damage varies. The angles of the vehicles at the time of the collision, the seating position of the driver and passengers, and the direction where the persons face varies in every single accident.
Injury cannot be predicted for any one individual because individuals vary greatly. Everyone has a different posture, different tensile strength of the ligaments, a different position in the vehicle at the time of the collision, different spinal canals, a different nervous system, and reaction to stimulus. Any one person can also change from month to month, maybe one started exercising three weeks ago, or changed the diet substantially, or had another injury, or over stressed the body.
Insurance companies nonetheless relay on these engineers to testify consistently on claims that low impact collisions cannot cause injury. Accident reconstructionists often use software to calculate speeds of impact by looking at several factors, sometimes just pictures. The software is usually not accurate enough for low impact collisions and the results can vary in extremes from engineer to engineer. The calculated speed for the collision varies greatly depending on how the calculations are entered, most software cautions that it is not reliable for low speeds and studies have shown that these computations are unreliable. The results also vary depending on the relationship between the engineer doing the calculations and the insurance company paying the tens of thousands of dollars to the engineer.
In addition to the engineers, insurance companies also hire medical doctors and chiropractors to render opinions. Opinions which are more likely than not biased.
General Information about Patents
Patent infringement is a serious offense in the United States. It can lead to serious damage awards if the case goes to trial. Often in cases of it, research by the offending company was previously performed to avoid it. However, often patent infringement happens when a company believes they are not directly violating certain laws.
For the purpose of clarity, we will discuss it as it pertains to a fictitious weight loss candy. Weight loss candy that has been marketed as candy that encourages weight loss and has been patented now holds the market on the ingredients and the concept, as well as the brand name and labeling.
The most obvious form of it is a company who creates the same product as a previously patented product and markets it as their own. Laws can get confusing when you consider that the development of products turns into development of more products. Obviously someone developed fabric softener.
Obviously, there have been many fabric softener developments along the way considering the ample fabric softener choices there are in the store today. Patents on the initial product only last for a certain amount of time, however patent infringement can happen even after it is acceptable to reproduce varying brands of the patented product. The new product can not have the same exact ingredients as the original product and it can not be marketed as the exact same product.
It can occur in several ways. Another company introduces a candy that does not necessarily encourage weight loss, but the packaging of the candy induces the consumer to believe the product is the same or similar to the initial weight loss candy. This is known as induced patent infringement.
Induced patent infringement relies on the principle that the company does not need to actually create a product that infringes on the patent rights, it only has to be presented to the consumer as a patent infringement. The candy, which may or may not encourage weight loss, is packaged in a manner that allows the consumer to believe the candy will encourage weight loss.
Induced patent infringement relies on the company's ability to hide behind the fact that the product is not the same as the patented product. Packaging is usually carefully worded to argue that the intent of the packaging is left up to the consumer, however, this tactic usually doesn't work. Induced patent infringement is usually obvious despite efforts that may be taken to avoid being suspected of it.
It can happen when someone redevelops a product already in circulation in another country, or if there is a patent pending on a product. Patent infringement on a patent pending product is really a matter of legal hair splitting. If a patent is pending, it does fall under protection. Patent infringement on a patent pending item can happen accidentally, however, most products that are marketed under a pending patent are marked with a patent pending obvious wording.
This can happen either accidentally or with deceitful intent. Intentional patent infringement, also known as willful patent infringement, can carry very high damages awards. Willful patent infringement is often committed with full knowledge and an intentionally deceitful marketing plan. This can include intentionally misrepresenting the product through packaging, advertisement, or even ingredient labeling. Willful can end up closing down major corporations.
These cases are definitely on the rise. This is in part due to the increase in marketing and research capabilities provided by the internet. Patent infringement awards tend to be some of the highest awards, if it was willful and the companies involved are both able and willing to take the case to court.
Patent infringement happens with large companies, small companies, and companies that are barely even on the radar screen. Unfortunately it is becoming more popular and more harmful. Patent infringement cases are becoming much more prevalent in the court room.
However it is important that those who have been victims of it, either via willful or induced, stand up and reclaim what is rightfully theirs. Patent infringement laws do help to better our society by providing financial motivation for the especially creative individuals to create products that make the world a better, safer place. Thus it is worth valuable time, money, and energy to seek out those who violate laws and hold them accountable for their actions.
For the purpose of clarity, we will discuss it as it pertains to a fictitious weight loss candy. Weight loss candy that has been marketed as candy that encourages weight loss and has been patented now holds the market on the ingredients and the concept, as well as the brand name and labeling.
The most obvious form of it is a company who creates the same product as a previously patented product and markets it as their own. Laws can get confusing when you consider that the development of products turns into development of more products. Obviously someone developed fabric softener.
Obviously, there have been many fabric softener developments along the way considering the ample fabric softener choices there are in the store today. Patents on the initial product only last for a certain amount of time, however patent infringement can happen even after it is acceptable to reproduce varying brands of the patented product. The new product can not have the same exact ingredients as the original product and it can not be marketed as the exact same product.
It can occur in several ways. Another company introduces a candy that does not necessarily encourage weight loss, but the packaging of the candy induces the consumer to believe the product is the same or similar to the initial weight loss candy. This is known as induced patent infringement.
Induced patent infringement relies on the principle that the company does not need to actually create a product that infringes on the patent rights, it only has to be presented to the consumer as a patent infringement. The candy, which may or may not encourage weight loss, is packaged in a manner that allows the consumer to believe the candy will encourage weight loss.
Induced patent infringement relies on the company's ability to hide behind the fact that the product is not the same as the patented product. Packaging is usually carefully worded to argue that the intent of the packaging is left up to the consumer, however, this tactic usually doesn't work. Induced patent infringement is usually obvious despite efforts that may be taken to avoid being suspected of it.
It can happen when someone redevelops a product already in circulation in another country, or if there is a patent pending on a product. Patent infringement on a patent pending product is really a matter of legal hair splitting. If a patent is pending, it does fall under protection. Patent infringement on a patent pending item can happen accidentally, however, most products that are marketed under a pending patent are marked with a patent pending obvious wording.
This can happen either accidentally or with deceitful intent. Intentional patent infringement, also known as willful patent infringement, can carry very high damages awards. Willful patent infringement is often committed with full knowledge and an intentionally deceitful marketing plan. This can include intentionally misrepresenting the product through packaging, advertisement, or even ingredient labeling. Willful can end up closing down major corporations.
These cases are definitely on the rise. This is in part due to the increase in marketing and research capabilities provided by the internet. Patent infringement awards tend to be some of the highest awards, if it was willful and the companies involved are both able and willing to take the case to court.
Patent infringement happens with large companies, small companies, and companies that are barely even on the radar screen. Unfortunately it is becoming more popular and more harmful. Patent infringement cases are becoming much more prevalent in the court room.
However it is important that those who have been victims of it, either via willful or induced, stand up and reclaim what is rightfully theirs. Patent infringement laws do help to better our society by providing financial motivation for the especially creative individuals to create products that make the world a better, safer place. Thus it is worth valuable time, money, and energy to seek out those who violate laws and hold them accountable for their actions.
When Doing Your Own Rental or Lease Agreement Don't Miss The Details
When renting or leasing rental property you should take into consideration many different factors. First think about everything that is important to you. You should address everything that is important to you to the smallest of details. For example do you care if the tenant smokes ? Do you care if they play loud music at 2 a.m. ? Do mind if they use your apartment for prostitution business? What if they use your property to grow marijuana plants ? Or perhaps they store used motor parts that leak oil and other fluids. These are big issues for most people, but there are also little ones that may be important to you.
There are also issues which you might not consider, because you think everyone uses common sense. Usually people use common sense, but even those that appear the be normal can have their moments of insanity. For example a husband and wife team rented an office space that they accidently set on fire after attempting to cook some fish on a BBQ grill. People do not always use common sense, there have been incidents of people dying after using a mixture of ammonia, bleach and other chemicals to clean the bathrooms. I know of one incident where a woman passed out after mixing household chemicals. She was hospitalized and then upon release she went to finish the job and died.
Regardless of whether the property is residential or commercial property the same is true for each when addressing your concerns. The laws differ between commercial and residential property and even within each of these categories there are subcategories. The laws for example may differ between an apartment, a house, a condo, a mobile home, and a boat home. Despite these differences, you can still account for things that are important to you and add them to your lease or rental agreement.
Some people attempt to save money by using pre-printed forms and then add their provisions, or prepare their own lease or rental agreement completely from scratch, but you should consider using an attorney especially if there is a substantial amount of money involved. If do you the lease agreement yourself be sure you say it correctly and avoid any ambiguity. If there is a chance for a different interpretation than your own, you may have trouble down the road. Write the provisions down and then review it a few days later to be sure they still make sense to you. I have received many phone calls from people in trouble after the fact. The best thing is to do it right the first time, so speak to an attorney first.
If there is a problem during the tenancy, be sure to address it quickly. If you need to evict someone for non payment of rent, do it quickly. Give the three day notice to quit or pay or whatever is required in your particular state. Make sure you dot the i-s and cross the T-s and date and sign every document you prepare correctly. Unlawful detainers are very detail sensitive and you may have to start from scratch if you make an error. This could result in an additional moth of lost rental income. If you are dependant on the rental income to make your mortgage payments, you cannot afford to make any errors, so once again hire an attorney, spend the money now, in the long run it will be cheaper.
You should not try and save money by doing everything yourself, unless you are willing to take a loss of several months. Also do not try and save money by hiring a paralegal or someone that prepares documents, they tend to make errors. I have had at least one case where it was started by paralegal, but the mistakes cost the client almost two moths rental income.
For a sample lease agreement visit my website and look at the additional consideration section where I added all the things that where of concern to me.
There are also issues which you might not consider, because you think everyone uses common sense. Usually people use common sense, but even those that appear the be normal can have their moments of insanity. For example a husband and wife team rented an office space that they accidently set on fire after attempting to cook some fish on a BBQ grill. People do not always use common sense, there have been incidents of people dying after using a mixture of ammonia, bleach and other chemicals to clean the bathrooms. I know of one incident where a woman passed out after mixing household chemicals. She was hospitalized and then upon release she went to finish the job and died.
Regardless of whether the property is residential or commercial property the same is true for each when addressing your concerns. The laws differ between commercial and residential property and even within each of these categories there are subcategories. The laws for example may differ between an apartment, a house, a condo, a mobile home, and a boat home. Despite these differences, you can still account for things that are important to you and add them to your lease or rental agreement.
Some people attempt to save money by using pre-printed forms and then add their provisions, or prepare their own lease or rental agreement completely from scratch, but you should consider using an attorney especially if there is a substantial amount of money involved. If do you the lease agreement yourself be sure you say it correctly and avoid any ambiguity. If there is a chance for a different interpretation than your own, you may have trouble down the road. Write the provisions down and then review it a few days later to be sure they still make sense to you. I have received many phone calls from people in trouble after the fact. The best thing is to do it right the first time, so speak to an attorney first.
If there is a problem during the tenancy, be sure to address it quickly. If you need to evict someone for non payment of rent, do it quickly. Give the three day notice to quit or pay or whatever is required in your particular state. Make sure you dot the i-s and cross the T-s and date and sign every document you prepare correctly. Unlawful detainers are very detail sensitive and you may have to start from scratch if you make an error. This could result in an additional moth of lost rental income. If you are dependant on the rental income to make your mortgage payments, you cannot afford to make any errors, so once again hire an attorney, spend the money now, in the long run it will be cheaper.
You should not try and save money by doing everything yourself, unless you are willing to take a loss of several months. Also do not try and save money by hiring a paralegal or someone that prepares documents, they tend to make errors. I have had at least one case where it was started by paralegal, but the mistakes cost the client almost two moths rental income.
For a sample lease agreement visit my website and look at the additional consideration section where I added all the things that where of concern to me.
Understanding How to Acquire a Patent
Obtaining a patent isn't necessarily that difficult, however understanding patent laws can be very difficult. Many people hire a patent lawyer to make sure they understand patent laws and how to avoid patent infringement.
Some people try to decipher patent laws themselves, but as they progress through the process and realize the remarkably steep financial penalties for patent infringement, many people who were not originally intending to hire a patent lawyer end up doing so anyway. Deciphering patent laws as an individual can be mind boggling.
Avoiding patent infringement is the most important step in attempting to obtain a patent. Obtaining a patent that has already been filed is not likely to happen; however, the patent offices are not responsible for patent infringement. The individual who is guilty of patent infringement, whether intentional or not, is going to be held accountable.
Patent laws, in all of their intrinsic complications, are best left to interpretation by the experts. Especially if it is a first attempt at obtaining a patent, a patent lawyer can help save time, money, and precious brain power. Of course, cutting out a patent lawyer may save money in the early stages, but the cost of a patent infringement lawsuit is typically not worth the few dollars by comparison that it costs to hire a patent lawyer.
Obtaining a patent only to find out that you're guilty of patent infringement is a waste of everything, time, money, and that precious brain power. It is faster and safer to simply hire a patent lawyer to cut out the possibility of patent infringement.
Patent laws, just like trademark laws or copyright laws, are designed to protect inventors of all venues, large and small. Patent lawyers work equally as hard for large corporate clients as they do for small one time inventors. Everyone has a good idea from time to time, and when a good idea is unique and original, it is always best to work at obtaining a patent to protect the unique integrity of the idea.
Hiring a patent lawyer is just one step in protecting yourself from patent infringement, either committing it or being a party to it. Patent lawyers are remarkably well versed in knowledge that it would take a first time attempt at obtaining a patent. Obtaining a patent for the first time is just as much a learning curve as it is an experience in patent law.
Learning patent laws through experience is a valuable experience, especially with the protected guidance of a qualified patent lawyer. A patent lawyer can literally take you through the ins and outs of patent law safely and accurately without having to risk the horrible damnation of patent infringement.
The likelihood of patent infringement reduces by nearly 80% with the assistance of a qualified patent lawyer. Obtaining a patent for the first or even third time alone increases the likelihood of patent infringement. This is because patent laws change drastically from region to region and from year to year.
While some patent laws cover the entire country, other patent laws are specific to a region or a product or a plant, or something of the like. Each patent category has its own set of patent laws, whether a new plant has been developed or a new computer enhancement has been invented, patent laws for each category are equally as complex as basic patent laws, once again requiring a patent lawyer to help decipher them. Regardless of what type of patent you are attempting to obtain, obtaining a patent with complete guidance is always the better route.
When hiring a patent lawyer, it is a good idea to cover the basics, such as asking questions about their track record with defending or prosecuting patent infringement cases or if any of their clients have ended up being accused of patent infringement despite being represented by a patent lawyer. These things are now easier to check up on thanks to the proliferation of the Internet, which was patented under the guidance of an attorney.
Hiring a patent lawyer is a good decision. Hiring an excellent patent lawyer is a better decision. Don't be afraid to research candidates just as you would research anything else. The goal is to be successful at obtaining a patent, which is likely if you have an original idea. You want the protection of a high quality patent lawyer to avoid patent infringement, be protected from patent infringement, and to successfully obtain a patent.
Some people try to decipher patent laws themselves, but as they progress through the process and realize the remarkably steep financial penalties for patent infringement, many people who were not originally intending to hire a patent lawyer end up doing so anyway. Deciphering patent laws as an individual can be mind boggling.
Avoiding patent infringement is the most important step in attempting to obtain a patent. Obtaining a patent that has already been filed is not likely to happen; however, the patent offices are not responsible for patent infringement. The individual who is guilty of patent infringement, whether intentional or not, is going to be held accountable.
Patent laws, in all of their intrinsic complications, are best left to interpretation by the experts. Especially if it is a first attempt at obtaining a patent, a patent lawyer can help save time, money, and precious brain power. Of course, cutting out a patent lawyer may save money in the early stages, but the cost of a patent infringement lawsuit is typically not worth the few dollars by comparison that it costs to hire a patent lawyer.
Obtaining a patent only to find out that you're guilty of patent infringement is a waste of everything, time, money, and that precious brain power. It is faster and safer to simply hire a patent lawyer to cut out the possibility of patent infringement.
Patent laws, just like trademark laws or copyright laws, are designed to protect inventors of all venues, large and small. Patent lawyers work equally as hard for large corporate clients as they do for small one time inventors. Everyone has a good idea from time to time, and when a good idea is unique and original, it is always best to work at obtaining a patent to protect the unique integrity of the idea.
Hiring a patent lawyer is just one step in protecting yourself from patent infringement, either committing it or being a party to it. Patent lawyers are remarkably well versed in knowledge that it would take a first time attempt at obtaining a patent. Obtaining a patent for the first time is just as much a learning curve as it is an experience in patent law.
Learning patent laws through experience is a valuable experience, especially with the protected guidance of a qualified patent lawyer. A patent lawyer can literally take you through the ins and outs of patent law safely and accurately without having to risk the horrible damnation of patent infringement.
The likelihood of patent infringement reduces by nearly 80% with the assistance of a qualified patent lawyer. Obtaining a patent for the first or even third time alone increases the likelihood of patent infringement. This is because patent laws change drastically from region to region and from year to year.
While some patent laws cover the entire country, other patent laws are specific to a region or a product or a plant, or something of the like. Each patent category has its own set of patent laws, whether a new plant has been developed or a new computer enhancement has been invented, patent laws for each category are equally as complex as basic patent laws, once again requiring a patent lawyer to help decipher them. Regardless of what type of patent you are attempting to obtain, obtaining a patent with complete guidance is always the better route.
When hiring a patent lawyer, it is a good idea to cover the basics, such as asking questions about their track record with defending or prosecuting patent infringement cases or if any of their clients have ended up being accused of patent infringement despite being represented by a patent lawyer. These things are now easier to check up on thanks to the proliferation of the Internet, which was patented under the guidance of an attorney.
Hiring a patent lawyer is a good decision. Hiring an excellent patent lawyer is a better decision. Don't be afraid to research candidates just as you would research anything else. The goal is to be successful at obtaining a patent, which is likely if you have an original idea. You want the protection of a high quality patent lawyer to avoid patent infringement, be protected from patent infringement, and to successfully obtain a patent.
California Patent Infringement Laws: A Review
Patent laws vary by state. Although there are federal ones, there are also state patent laws, and each state carries its own set determining factors for various forms of patent infringement. California patent laws vary from laws regarding patent infringement in New York by quite a bit.
It is always best, and typically the only legal option, to choose a lawyer that actively practices patent infringement in the state which the incident took place. California laws aren't any less restrictive than other states, per se, but all states have their downfalls.
When reviewing California laws, the average individual needs to keep in mind that California laws are not always static. Just like all state laws, they change in order to keep up with technological advancements and advancement in case law. It is never a good idea to assume to understand California laws unless you are in the profession and are chronically being informed of changes regarding California patent laws.
Retaining a lawyer to help decipher laws is recommended during the development of new products, especially in the technology field, to help protect your company from violating laws. Accidental patent infringement happens all the time, and courts tend to look past intent straight to the heart of the matter.
Accidental or not, violating California laws will most likely result in a lawsuit. It would be much more prudent and cost effective to simply hire a lawyer from the onset to avoid the violation of California patent laws.
California patent laws are not only changing, but they can be quite complicated in nature and it typically requires a professional, such as a California lawyer, to interpret these laws into applicable principles. Interpreting law is not always as straight forward as it seems, and often the wording is organized to be interpreted several different ways.
Without a professional, such as a lawyer, the decoding of California laws may very well take up more man hours in researching than actual production. And of course that isn't very cost effective either.
Relying on word of mouth or educated opinion is exactly how many companies hiring patent infringement lawyers, as they mount their defense against an accusation. Misinterpreting laws may very well be the end of a company. After all, award judgments for patent violations tend to run in the millions, and often the tens of millions for larger companies or blatant patent violations.
Equally as important as complying with California patent laws while in the design and production stages of a new invention or product, lawyers are also the first to call when your company has determined that another company is in violation of California patent laws.
Once again, because laws are so complicated and require interpretation by a professional such as a lawyer, suspecting that a company is in violation of California laws is not enough. You will need a lawyer to verify your suspicions and help you take the next legal step. Patent infringement is a serious offense and following the steps to pursue a strong legal case is vital.
The advice of a lawyer is the only thing standing between your company and possible financial devastation, depending on the nature of the patent infringement. There is enough money at stake that without solid advice, the company who has been infringed upon may very well find themselves losing more money than they can bear to lose.
This can result in cost cutting, job loss, financial constraints, project delays, and even ultimately bankruptcy or the closing of a company. The right lawyer can help prevent these effects from taking place under California laws.
California patent laws, patent infringement lawyers, and the court system are all in place to protect patent holders from violations as well as the long reaching effects of patent violations.
Under the current California laws, protecting a company from patent violation accusations can be equally as important as tracking down patent violators who wrong the company. These actions require the services of a well qualified lawyer.
Until speaking with a lawyer, you will never be sure your company is protected nor will you ever be sure that there isn't someone out there stealing your fortune bound inventions. The value of a lawyer to any company who develops new inventions is remarkably high.
It is always best, and typically the only legal option, to choose a lawyer that actively practices patent infringement in the state which the incident took place. California laws aren't any less restrictive than other states, per se, but all states have their downfalls.
When reviewing California laws, the average individual needs to keep in mind that California laws are not always static. Just like all state laws, they change in order to keep up with technological advancements and advancement in case law. It is never a good idea to assume to understand California laws unless you are in the profession and are chronically being informed of changes regarding California patent laws.
Retaining a lawyer to help decipher laws is recommended during the development of new products, especially in the technology field, to help protect your company from violating laws. Accidental patent infringement happens all the time, and courts tend to look past intent straight to the heart of the matter.
Accidental or not, violating California laws will most likely result in a lawsuit. It would be much more prudent and cost effective to simply hire a lawyer from the onset to avoid the violation of California patent laws.
California patent laws are not only changing, but they can be quite complicated in nature and it typically requires a professional, such as a California lawyer, to interpret these laws into applicable principles. Interpreting law is not always as straight forward as it seems, and often the wording is organized to be interpreted several different ways.
Without a professional, such as a lawyer, the decoding of California laws may very well take up more man hours in researching than actual production. And of course that isn't very cost effective either.
Relying on word of mouth or educated opinion is exactly how many companies hiring patent infringement lawyers, as they mount their defense against an accusation. Misinterpreting laws may very well be the end of a company. After all, award judgments for patent violations tend to run in the millions, and often the tens of millions for larger companies or blatant patent violations.
Equally as important as complying with California patent laws while in the design and production stages of a new invention or product, lawyers are also the first to call when your company has determined that another company is in violation of California patent laws.
Once again, because laws are so complicated and require interpretation by a professional such as a lawyer, suspecting that a company is in violation of California laws is not enough. You will need a lawyer to verify your suspicions and help you take the next legal step. Patent infringement is a serious offense and following the steps to pursue a strong legal case is vital.
The advice of a lawyer is the only thing standing between your company and possible financial devastation, depending on the nature of the patent infringement. There is enough money at stake that without solid advice, the company who has been infringed upon may very well find themselves losing more money than they can bear to lose.
This can result in cost cutting, job loss, financial constraints, project delays, and even ultimately bankruptcy or the closing of a company. The right lawyer can help prevent these effects from taking place under California laws.
California patent laws, patent infringement lawyers, and the court system are all in place to protect patent holders from violations as well as the long reaching effects of patent violations.
Under the current California laws, protecting a company from patent violation accusations can be equally as important as tracking down patent violators who wrong the company. These actions require the services of a well qualified lawyer.
Until speaking with a lawyer, you will never be sure your company is protected nor will you ever be sure that there isn't someone out there stealing your fortune bound inventions. The value of a lawyer to any company who develops new inventions is remarkably high.
Foreclosure Epidemic Likely Means Additional Tax Liability
The recent national surge in home foreclosures coming on the heels of the collapse of the sub-prime lending industry and decline in home values likely means additional bad news for those former homeowners who feel like they just lost everything: additional income tax liability.
Income tax liability? From losing your home? Such is the nature of the United States Internal Revenue Code.
Given the foreclosure epidemic and the huge losses to which lenders of all sizes are now exposed, many lenders are willing to enter into a variety of work-out programs with their borrowers to avoid foreclosure. Avoiding foreclosure does not necessarily mean keeping the home, however.
The foreclosure process is time-consuming for the lenders and often subjects them to the additional time and expense of physically evicting the former home owner from the home after the foreclosure sale. From the borrower's perspective, a foreclosure is a huge blow to credit worthiness and will impact the borrower's ability to finance major purchases for years to come.
Considering many lenders' goals of reducing their losses on foreclosures, borrowers have met with success recently in negotiating "short sales" with their lenders. A short sale is the borrower's reconveyance of the home to the lender for less than the amount owed on the mortgage.
For example: Joe obtained a creative home loan and purchased a home at the height of home values and during the most liberal period in sub-prime lending.
Eventually, the appraised value of Joe's home began to drop and the "creative" part of his home loan kicked-in. Perhaps his interest rate adjusted or his interest-only payments ceased and he was required to commence paying both principal and interest.
In any event, Joe finds that he cannot afford to continue making the mortgage payments and, due to market circumstances, he now owes more on the mortgage than the home is worth. In other words, he is upside down in the home.
Joe defaults on the mortgage payments and is now subject to the foreclosure process.
Applied to the example above, the borrower might successfully negotiate a short sale with his lender. Many lenders are now accepting a reconveyance of the home and forgiving the remaining debt exceeding the value of the home.
In the example, Joe may have purchased the home for $300,000. He has made interest-only payments on the loan for a year, but due to the recent slump in the market, the home is now worth only $250,000. He still owes $300,000 on the mortgage. The lender, therefore, may accept a reconveyance of the home - in essence a $250,000 payment - against the $300,000 debt.
The sale is "short" because the value of the home does not cover the amount of the mortgage. The lender may forgive the additional $50,000 owed by the borrower in order to avoid the foreclosure process, or to avoid litigation expenses in pursuing the borrower for the deficiency balance, and essentially cut its losses.
For the borrower, he avoids foreclosure and its ramifications to his credit, as well as facing a likely judgment for the amount still owed on the debt.
The hidden drawback here, though, is that the tax code treats Joe's debt relief as income. By being relieved of the obligation to pay $50,000, the IRS considers that Joe has in effect put $50,000 in his pocket.
The debt relief is subject to ordinary income tax. Joe may not even know of his additional tax liability until he receives an envelope in the mail from the lender containing a 1099 form reporting the debt relief income to the IRS.
The same result may follow if Joe simply walks away from the home, allows foreclosure to proceed, and then the lender elects not to pursue Joe for collection of the deficiency balance on the loan.
The ripple effect of the sub-prime lending market over the past couple of years has yet to reach its full effect. Individual homeowners must be wary of all consequences of divesting themselves of the homes they purchased in that market.
While financial planning might be the last thing on a borrower's mind when he or she faces the harsh reality that the home will be lost in some way, the unforeseen consequences of a foreclosure or short sale can only be addressed through the sound advice of a tax professional, CPA, or, at the very least, the IRS website.
Of interest to us lawyers, however, is the approach the IRS will take to the likely spate of litigation that will proceed, alleging that these borrowers, now facing additional income tax liability through the loss of their homes, should not be responsible for the 1099 income tax burden, by virtue of alleged fraud or misrepresentation on the part of the sub-prime lenders.
As they say, "the Wheels of Justice grind slowly." We will all have to wait to see how this shakes out.
Income tax liability? From losing your home? Such is the nature of the United States Internal Revenue Code.
Given the foreclosure epidemic and the huge losses to which lenders of all sizes are now exposed, many lenders are willing to enter into a variety of work-out programs with their borrowers to avoid foreclosure. Avoiding foreclosure does not necessarily mean keeping the home, however.
The foreclosure process is time-consuming for the lenders and often subjects them to the additional time and expense of physically evicting the former home owner from the home after the foreclosure sale. From the borrower's perspective, a foreclosure is a huge blow to credit worthiness and will impact the borrower's ability to finance major purchases for years to come.
Considering many lenders' goals of reducing their losses on foreclosures, borrowers have met with success recently in negotiating "short sales" with their lenders. A short sale is the borrower's reconveyance of the home to the lender for less than the amount owed on the mortgage.
For example: Joe obtained a creative home loan and purchased a home at the height of home values and during the most liberal period in sub-prime lending.
Eventually, the appraised value of Joe's home began to drop and the "creative" part of his home loan kicked-in. Perhaps his interest rate adjusted or his interest-only payments ceased and he was required to commence paying both principal and interest.
In any event, Joe finds that he cannot afford to continue making the mortgage payments and, due to market circumstances, he now owes more on the mortgage than the home is worth. In other words, he is upside down in the home.
Joe defaults on the mortgage payments and is now subject to the foreclosure process.
Applied to the example above, the borrower might successfully negotiate a short sale with his lender. Many lenders are now accepting a reconveyance of the home and forgiving the remaining debt exceeding the value of the home.
In the example, Joe may have purchased the home for $300,000. He has made interest-only payments on the loan for a year, but due to the recent slump in the market, the home is now worth only $250,000. He still owes $300,000 on the mortgage. The lender, therefore, may accept a reconveyance of the home - in essence a $250,000 payment - against the $300,000 debt.
The sale is "short" because the value of the home does not cover the amount of the mortgage. The lender may forgive the additional $50,000 owed by the borrower in order to avoid the foreclosure process, or to avoid litigation expenses in pursuing the borrower for the deficiency balance, and essentially cut its losses.
For the borrower, he avoids foreclosure and its ramifications to his credit, as well as facing a likely judgment for the amount still owed on the debt.
The hidden drawback here, though, is that the tax code treats Joe's debt relief as income. By being relieved of the obligation to pay $50,000, the IRS considers that Joe has in effect put $50,000 in his pocket.
The debt relief is subject to ordinary income tax. Joe may not even know of his additional tax liability until he receives an envelope in the mail from the lender containing a 1099 form reporting the debt relief income to the IRS.
The same result may follow if Joe simply walks away from the home, allows foreclosure to proceed, and then the lender elects not to pursue Joe for collection of the deficiency balance on the loan.
The ripple effect of the sub-prime lending market over the past couple of years has yet to reach its full effect. Individual homeowners must be wary of all consequences of divesting themselves of the homes they purchased in that market.
While financial planning might be the last thing on a borrower's mind when he or she faces the harsh reality that the home will be lost in some way, the unforeseen consequences of a foreclosure or short sale can only be addressed through the sound advice of a tax professional, CPA, or, at the very least, the IRS website.
Of interest to us lawyers, however, is the approach the IRS will take to the likely spate of litigation that will proceed, alleging that these borrowers, now facing additional income tax liability through the loss of their homes, should not be responsible for the 1099 income tax burden, by virtue of alleged fraud or misrepresentation on the part of the sub-prime lenders.
As they say, "the Wheels of Justice grind slowly." We will all have to wait to see how this shakes out.
The Accident, the Injury and the Potential for Financial Ruin
The car in front of you stops without warning. The driver may be talking on a cell phone or reprimanding a disruptive child in the backseat. The reason doesn't matter. What does matter is your life, and those with you, may never be the same.
The result is unthinkable. You sustain life-threatening injuries. You require emergency surgery and are required to endure a lengthy hospital admission, followed by months of painful rehabilitation. You're out of work indefinitely and may never return.
Initially you accept help of friends and family, because you have no choice, but you feel like a burden and your self-esteem begins to falter. You can't pay your bills, and bankruptcy looms on the horizon. Everything you've worked for your entire life hangs in the balance and you have nowhere to turn.
Your lawyer assures you that your lawsuit against the offending driver will eventually be resolved in your favor, but the settlement may be months or years away. In desperation you ask your lawyer to loan you some of the money he plans to recover in the lawsuit, but he tells you that he can't, because it's a violation of the Disciplinary Code.
He reads you the applicable section from the New York Lawyer's Code of Professional Responsibility:
DR 5-103 [1200.22] Avoiding Acquisition of Interest in Litigation.
B. While representing a client in connection with contemplated or pending litigation, a lawyer shall not advance or guarantee financial assistance to the clients:
What recourse do plaintiffs have?
Pre-settlement funding offers a potential solution to this overwhelming problem. Also known as non-recourse funding, a plaintiff may be eligible to acquire a cash advance against his or her anticipated award.
A lawsuit funding company, a third-party unaffiliated with the plaintiff's attorney, provides the proceeds. The funding company fronts money directly to the plaintiff to pay bills, acquire medical services, or use in any way he or she sees fit -- in return for a promise to repay the advance after the lawsuit settles. This is not a loan. It's known as "non-recourse" funding, because the injured person does not have to repay the advance if the lawsuit is unsuccessful.
In other words, if the plaintiff doesn't recover, neither does the funding company. Therefore, it is in the best financial interest of the companies engaged in these practices to choose the cases they wish to fund carefully because there is always a chance that their investment may be lost.
On the other hand, since the funding company is taking a substantial risk in advancing the funds, the fees tied to the advance are usually quite significant.
What steps must plaintiffs take?
The plaintiff takes the first step in contacting the funding company. For instance some companies provide an online application, which contains the vital information necessary for the funding specialist to consider.
A representative of the funding company then contacts the potential client and his or her lawyer. The attorney supplies additional information about the case, and based upon the information provided; the funding company estimates the value of the potential settlement or verdict.
The lawsuit cash advance is offered to the injured person based upon the estimate. The fee may be a flat fee, or a monthly fee that accrues each month the advance remains outstanding.
The injured person has no obligation to repay if the lawsuit is lost. Similarly, if the ultimate settlement or verdict is smaller than anticipated, the amount that must be repaid never exceeds the amount of the injured person's share of that verdict or settlement. Because the attorney runs the risk of losing his investment, these advances are not characterized as loans.
Amounts available vary significantly, depending upon the nature of the case and the company involved. Some companies will fix the fee for the advance up front. Others will charge a monthly fee for each month, from the time the funding is issued until it is repaid, sometimes as high as 15% per month.
Lawsuit funding is not for everyone.
Litigation can take years. While cases are pending, the injured person has to have enough money to get by. If the injured person is unable to work, has reduced income, or has expenses associated with care or disability, it may not be possible to wait until the end of the lawsuit before obtaining funds.
Given the fees involved in pre-settlement funding, which could cause the principle to double over the course of a year or less, it is important for injured people to consider alternatives. Lawsuit financing should be the plaintiff's last resort.
The fees are premised upon the risk to the lender associated with non-recourse lending, but keep in mind that these companies choose their cases carefully in order to minimize their risk. In other words, if they offer you an advance they believe that you will receive money from your lawsuit. If you decide to obtain pre-settlement funding you should check with several companies, in order to obtain the most favorable terms.
Conclusion
Pre-settlement lawsuit funding should be considered at last resort. Due to the high cost of this type of funding, your decision to accept an advance should be made with caution. When seeking pre-settlement funding, it makes sense to check with several companies, to obtain the lowest possible fees.
The result is unthinkable. You sustain life-threatening injuries. You require emergency surgery and are required to endure a lengthy hospital admission, followed by months of painful rehabilitation. You're out of work indefinitely and may never return.
Initially you accept help of friends and family, because you have no choice, but you feel like a burden and your self-esteem begins to falter. You can't pay your bills, and bankruptcy looms on the horizon. Everything you've worked for your entire life hangs in the balance and you have nowhere to turn.
Your lawyer assures you that your lawsuit against the offending driver will eventually be resolved in your favor, but the settlement may be months or years away. In desperation you ask your lawyer to loan you some of the money he plans to recover in the lawsuit, but he tells you that he can't, because it's a violation of the Disciplinary Code.
He reads you the applicable section from the New York Lawyer's Code of Professional Responsibility:
DR 5-103 [1200.22] Avoiding Acquisition of Interest in Litigation.
B. While representing a client in connection with contemplated or pending litigation, a lawyer shall not advance or guarantee financial assistance to the clients:
What recourse do plaintiffs have?
Pre-settlement funding offers a potential solution to this overwhelming problem. Also known as non-recourse funding, a plaintiff may be eligible to acquire a cash advance against his or her anticipated award.
A lawsuit funding company, a third-party unaffiliated with the plaintiff's attorney, provides the proceeds. The funding company fronts money directly to the plaintiff to pay bills, acquire medical services, or use in any way he or she sees fit -- in return for a promise to repay the advance after the lawsuit settles. This is not a loan. It's known as "non-recourse" funding, because the injured person does not have to repay the advance if the lawsuit is unsuccessful.
In other words, if the plaintiff doesn't recover, neither does the funding company. Therefore, it is in the best financial interest of the companies engaged in these practices to choose the cases they wish to fund carefully because there is always a chance that their investment may be lost.
On the other hand, since the funding company is taking a substantial risk in advancing the funds, the fees tied to the advance are usually quite significant.
What steps must plaintiffs take?
The plaintiff takes the first step in contacting the funding company. For instance some companies provide an online application, which contains the vital information necessary for the funding specialist to consider.
A representative of the funding company then contacts the potential client and his or her lawyer. The attorney supplies additional information about the case, and based upon the information provided; the funding company estimates the value of the potential settlement or verdict.
The lawsuit cash advance is offered to the injured person based upon the estimate. The fee may be a flat fee, or a monthly fee that accrues each month the advance remains outstanding.
The injured person has no obligation to repay if the lawsuit is lost. Similarly, if the ultimate settlement or verdict is smaller than anticipated, the amount that must be repaid never exceeds the amount of the injured person's share of that verdict or settlement. Because the attorney runs the risk of losing his investment, these advances are not characterized as loans.
Amounts available vary significantly, depending upon the nature of the case and the company involved. Some companies will fix the fee for the advance up front. Others will charge a monthly fee for each month, from the time the funding is issued until it is repaid, sometimes as high as 15% per month.
Lawsuit funding is not for everyone.
Litigation can take years. While cases are pending, the injured person has to have enough money to get by. If the injured person is unable to work, has reduced income, or has expenses associated with care or disability, it may not be possible to wait until the end of the lawsuit before obtaining funds.
Given the fees involved in pre-settlement funding, which could cause the principle to double over the course of a year or less, it is important for injured people to consider alternatives. Lawsuit financing should be the plaintiff's last resort.
The fees are premised upon the risk to the lender associated with non-recourse lending, but keep in mind that these companies choose their cases carefully in order to minimize their risk. In other words, if they offer you an advance they believe that you will receive money from your lawsuit. If you decide to obtain pre-settlement funding you should check with several companies, in order to obtain the most favorable terms.
Conclusion
Pre-settlement lawsuit funding should be considered at last resort. Due to the high cost of this type of funding, your decision to accept an advance should be made with caution. When seeking pre-settlement funding, it makes sense to check with several companies, to obtain the lowest possible fees.
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