Lawyers' Rates Rocket into the Thousands

According to an article on www.law.com, "Thanks to the prospect of nine-figure verdicts, it's become a seller's market for IP experts, with sought-after specialists commanding up to $10,000 a day, some lawyers say. Wei-Ning Yang, a Hogan & Harston partner in L.A., said last week that the firm is currently paying an MIT professor $2,000 an hour in an IP dispute."

Some think it's worth it.

"Weil, Gotshal & Manges partner Edward Reines said he once paid $10,000 per day, but it was under what he referred to as 'unusual circumstances' that only required the expert's use for a short period of time," continues the article.

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But one attorney at Hogan & Hartson thinks $2,000 is "absurdly high."

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Margaret Grisdela, the president of Florida-based Legal Experts Connections, Inc., said that the average range is about $250 to $450 per hour but that "New York and California are often the highest markets, and experts often charge a premium for trial testimony," according to the article.

Some also think charging high prices will look good to a jury, while others believe it could be risky.

"One concern is how the jury is going to react, said Michael Jacobs, a Morrison & Foerster partner. "The jury could decide that the expert is really worth it, or they could decide the only way they could get someone is to pay $2,000 an hour."