Re: Contingency basis - LL
in response to
by
posted on
Mar 28, 2007 07:47AM
The Company has agreed to pay Duane Morris a fee equal to 40% of any license or litigation recovery related to Patent Enforcement Matters, after recovery of expenses, and 50% of recovery if appeal is necessary.
Duane Morris doesn't get paid a fee if they don't perform and sign up licensees or are successful in litigation. The contract could have been written so that EDIG pays their fees regardless of them signing up any licensees or winning any cases. Now worst case scenario, we only pay their expenses...no legal fees...unless they are successful. Which I'm confident they will be. So we stand to get 50% - 60% of recovery monies where as now we are getting a big fat zero %.