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Lawyers' Rates Rocket into the Thousands

published September 06, 2007

By Author - LawCrossing
Published By
( 5 votes, average: 4.8 out of 5)
What do you think about this article? Rate it using the stars above and let us know what you think in the comments below.
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.

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

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."

published September 06, 2007

By Author - LawCrossing
( 5 votes, average: 4.8 out of 5)
What do you think about this article? Rate it using the stars above and let us know what you think in the comments below.

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