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READ ME FIRST - FAQ

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READ ME FIRST - FAQ

Postby Pinskylaw.ca » 27 Jun 2013, 11:39

FAQ

1. Can I ask Pinsky Law a question?

Yes, but read the disclaimer first and also read information for direct entry clients.

DO NOT post messages on this website or in this forum as a substitute for retaining your own lawyer.

If you communicate with Pinsky Law in connection with a matter for which Pinsky law does not already represent you, you should not post any confidential or sensitive information on this website or in this forum because your communication will not be treated as privileged or confidential. If Pinsky Law will answer a question on this website or in this forum, it is because it was considered that the question and answer would be helpful to other individuals and it does not mean that Pinsky Law is your lawyer. Visiting this website and this forum and posting inquiries, questions, and messages DOES NOT establish client-lawyer relationship between you and Pinsky Law. Pinsky Law will not be representing you unless and until the terms of our representation are discussed and mutually agreed upon by you and Pinsky Law, in writing. We NEVER accept clients without a signed representation agreement.

2. Can I contact Pinsky Law to represent me and/or my company?

Yes, but read information for direct entry clients first http://www.pinskylaw.ca/fees/initial-consultation.html. Also, take a note that we prefer receiving emails as opposed to phone calls from people that we do not know.

3. Will you defer legal fees?

No, we will not. All legal services are provided on pay as you go basis. Additional information about Pinsky Law fees is available at the following URL: http://www.pinskylaw.ca/fees/fees.html

4. What does it cost to incorporate a company and what is the process?

Federally incorporating a company in Canada or incorporating in Delaware, issuing restricted shares to founders, setting up an option plan and providing forms of NDAs, consulting agreements, etc. costs about $5,000 or so. Actual mileage may vary. It could be higher or lower depending on the amount of back and forth and questions. For example, founders who are incorporating their second company with Pinsky Law probably already understand the nuances of vesting acceleration and know exactly what they want. Prior experience suggests that legal fees relating to incorporating a company with several founders will cost more because of increased explanation time, additional customization for standard forms and multiple revisions of documents due to the founders changing their mind on issues.

5. How much does a financing cost?

A simple seed stage convertible bridge note financing where the investors are not represented by counsel and don’t negotiate any terms typically costs between $5K and $15K. A Series A preferred stock financing where the investors are not represented by counsel and do not negotiate any terms typically costs between $15,000 and $25,000. Company counsel legal fees for a Series A financing with a venture fund typically is between $50,000 and $60,000, and can be much higher if there is neglected corporate housekeeping or mechanical hassles like bridge note conversions. In addition, the company needs to pay for investor counsel legal fees, which could be between $25,000 and $35,000. If investor counsel legal fees are $35,000, it wouldn’t be unusual for company counsel fees to be around $70,000. Actual mileage may vary.

6. How much does patent search cost?

Our patentability search and patentability opinion letter cost at least $3,500 and takes two to three weeks to prepare.

7. How much does a Unites States provisional patent application cost?

A USPTO provisional patent application may cost between $3,000 and $6,000 depending on complexity of an invention and its technology and typically takes one week to prepare.

8. What are your fees to prepare a full utility patent application?

Below are some cost estimates based on prior experience:

Simple Invention (paperclip) $5,000 - $10,000
Moderately Complex Invention (ballpoint pen) $10,000 - $15,000
Complex invention (computer) ($15,000 - $25,000)
E-commerce and business methods $15,000 - $30,000+
Formal Drawings $500 - $1,500

Actual mileage may vary.

9.What are the government of Canada fees for filing of a Canadian patent application?

Below are the Canadian Intellectual Property Office (CIPO) fees for filing of a patent application on a large entity basis

(a) CIPO (not including request for examination) $1400
(b) CIPO (including request for examination) ~$2200

10.What are the Government of the USA fees for filing of a USA patent application?

Below are the fees for filing of the United States Patent and Trademark Office (USPTO) patent application on a small entity basis

USPTO (small entity) $1,700
USPTO request for formal drawings $700 - $1,400

11.What is the cost of additional annual correspondence between Patent Office and your office?

Each country in which a patent application is filed typically requires between $500-$1,000 in correspondence charges.
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