McKool Smith has declined opportunities to take an ownership position in the patents the firm litigates. While the law is unsettled as to the ethical boundaries, our firm has avoided such investments because of potential ethical concerns, as well as strategic considerations related to the attractiveness of the case to the jury.
The structure of the attorney-client fee agreement has become increasingly flexible in recent years. Today’s engagement letters often employ alternative fee agreements, sometimes implementing hybrid arrangements wherein the attorney is paid a reduced hourly rate but receives a “kicker” on contingency.
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