Why an Intellectual Property Attorney in Ventura CA Should Consider Arbitration
While an intellectual property attorney in Ventura California may be accustomed to talking to clients about possible litigation when a problem arises, this may not always be the best approach to the problem. Intellectual property attorney in Ventura California may deal with issues involving someone else encroaching on a client’s intellectual property or with a client being named as a defendant in a lawsuit of this nature. Arbitration provides a number of benefits to attorneys and clients.
Timing is extremely important in intellectual property disputes. If a case is tied up in litigation and one of the parties continues to receive profits from a product or creation, this party may wind up having to pay these profits to the other party for the years while litigation is ongoing. Arbitration allows the parties to quickly resolve their dispute so that they can both pursue business opportunities. At the same time attorneys can take on a case of this nature without having as much of a commitment as a case involving anticipated litigation.
Another disadvantage to litigation is the possibility of having the decision overturned on appeal. This can be particularly problematic for an attorney who brought the case on a contingency fee basis or who represented the party who won a significant award. Typically, an appeal will delay payment to the attorneys in these situations. Arbitration offers more finality to an award by having only isolated reasons for appeal.
One of the benefits of having intellectual property protection is being able to exclusively have control of the technology or idea protected by a patent, copyright, trademark or other intellectual property device. However, litigation tends to expose trade secrets and other confidential information about businesses and products. Arbitration allows businesses and private parties to retain their privacy through a confidential proceeding. Being able to provide this alternative to your clients who are particularly concerned about privacy can create a positive impression with them.