How do you afford startup legal fees?

Question

I am trying to launch a startup eCommerce business selling intellectual property. I need to consult an attorney and need their help drafting some license agrements too, but am afraid what the costs will be. Can someone tell me generally how much attorney fees are, do they offer 'packages' for startups outside of a retainer? What options do startups have to afford legal startup costs?

Answer 1

The IP attorneys I've worked with over the years typically charge anywhere from $200-$300/hour. As far as offering packages, it's possible if you'll be consistently coming to them for your IP needs -- the only way to really find out is to call several & do some pricing.

But there's no reason you can't do some homework first -- this could help cut your costs as well as give you valuable experience for the long run.

Here are some book titles that are relevant:

* How to License Your Million Dollar Idea: Everything You Need To Know To Turn a Simple Idea into a Million Dollar Payday, 2nd Edition by Harvey Reese
* Essentials of Licensing Intellectual Property by Alexander I. Poltorak, Paul J. Lerner
* The Licensing Business Handbook, Fifth Edition by Karen Raugust

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

I suggest that you look into a Pre-Paid Legal Services plan here:

http://www.getprotectedhere.com

You can ask your question and as many other questions as you need all for one low monthly rate. And you are getting an answer from a lawyer in your state that deals in the area of law of your question. Plus a lot more benefits.

This is exactly what you need in my opinion. Check out the Business Plan, you get legal advice as well as Business consultants.