The experiential education of the Center’s students that is embodied in the services the Center provides to universities, government research facilities and other research organizations has the additional benefit of advancing science by enhancing the likelihood that discoveries and inventions are applied to important societal needs. These goals are enshrined in federal legislation such as the Bayh-Dole Act of 1980, which applies to academic and other institutions receiving federal research funding, and the Stevenson-Wydler Technology Innovation Act of 1980, which applies to federal agencies Because private and public research institutions and federal agencies are frequently understaffed to accomplish these important social and legislative goals, the Center’s services to them not only advance the Center’s educational mission but also have the concomitant effect providing them with extra “eyes and ears, arms and legs”, thereby reducing the burden on such institutions and on government.
The scope and types of services provided to this category of clients, and the amount, terms, types, and timing of compensation, are specially negotiated with each institution.
The Private Sector
Entrepreneurs, emerging technology companies, and the entities that support them enable the Center to provide the trans-disciplinary real-world experiential education that is at the core of its mission. It is through working closely with these constituencies that the Center’s students learn the skills necessary to get a head start on embarking on successful careers as professionals working in the technology sector and as technology entrepreneurs. The Center’s trans-disciplinary approach allows students, entrepreneurs, and other stakeholders to gain valuable knowledge and experience integrating numerous disciplines into a coherent and practical framework.
Entrepreneurs and start-up companies tend to lack the financial resources necessary to gain access to high-quality professional services. The Center’s Web-based program allows its students, their volunteer supervisors and mentors, and other groups supporting early-stage technology entrepreneurship to assist these innovators, particularly in communities that encounter difficulty in accessing such services for geographical or other reasons. The Center also welcomes the opportunity to work with minority and women technology entrepreneurs.
The following list of services is not intended to be definitive. The Center will be happy to discuss providing services that are not on this list and do not appear on the list of excluded services.- Entity formation and drafting of accompanying documents and agreements
- Strategic advice on entity formation, including intellectual property, capitalization and tax considerations
- Contract review, negotiation and drafting
- Full array of intellectual property services and strategic advice, including, but not limited to, patent searches and drafting provisional and non-provisional patent applications
- Intellectual asset management and systems
- Immigration matters
- Risk management, including advice in connection with insurance
- Legal audits and compliance programs
- Due diligence
- Advice and assistance in connection with corporate governance
- Regulatory approvals from government health and safety agencies and advice on other regulatory matters
- Confidentiality, material transfer, sponsored research and clinical trial agreements
- Early stage private placements and other financings (e.g., angel investors and venture capital firms) that do not require interaction with the United States Securities and Exchange Commission
- Establishment of equity incentive and related stock-based compensation plans
- Domestic and international joint venture, manufacturing, distribution and other business transactions
- International joint venture, manufacturing, distribution and other business transactions
- Market and competitive research and analysis
- Business planning
- Strategic alliances
- Advice on doing business internationally
- Presentation to investors and at angel and venture capital events
- Business or operational continuity plans in the event of a natural or human disaster
- Technical assistance and evaluations
- Business Planning Strategic Alliances
- Internal control systems
- Human Resources needs analysis, advice, policies and documents
- Advice and assistance with business and technology valuation
- Advice and assistance in enhancing marketability and revenue generating capacity of intellectual assets
- Advice and assistance with advertising, marketing, labeling and other communications
- Investor relations (non-public)
Participating Firms and Participating Providers do not charge fees for the services they provide under the Center’s program but do bill the Center’s clients for out-of-pocket expenses they incur on the client’s behalf.
The client will execute and submit to any appropriate government agency or private entity any power of attorney necessary for the Center staff, students and Participating Firms and Providers to contact and communicate with such agency or entity.
The Center does not file any applications or other document with government agencies or other entities. Filing and paying any necessary fees are the responsibility of the client, but the client can request a Participating Firm or Participating Provider with which the client works to file documents on the client’s behalf. The Client is responsible for prepaying or reimbursing the Firm or Provider for any expenses in connection with this service.
The Center provides appropriate legal and non-legal services to selected nonprofit organizations. The same fees apply. Contact the Center for additional information.
Billing Policies
LegalThe Center charges for all student time and work performed, including, but not limited to, conferences, telephone calls, travel time, drafting documents, and research. Professional services of students are billed on an hourly basis, subject to any limitations on aggregate hourly rates set forth in the Engagement Letter. Time is recorded in multiples of tenths of an hour and a minimum of 1/10th of an hour is billed for each activity performed.
The Center typically requires that its clients pay retainers based on estimated time necessary to complete the given matter prior to the commencement of services. This is to alleviate the need for the Center to expend resources collecting bills. In this regard, you agree that the Center will require a retainer of $___ n connection with the current matter. The retainer will be deposited in an Attorney’s Trust Account separate from the Center’s accounts and any other Escrow Account and maintained in strict accordance with Maryland law and court rules, and funds will not be disbursed to the Center until permitted by such such law and rules. ’If the Center runs over the retainer amount, you agree that the Center may require you to pay additional retainer funds. Any retainer funds not billed against will be returned to you at the end of our engagement
The Center provides clients with timely monthly statements for professional services performed and expenses incurred. Statements are due and payable in full upon receipt (unless covered by retainer). Fees for professional services are and will be based upon standard hourly rates for all services rendered, and unless otherwise specified, are subject to adjustment upward as we review our rates from time to time.
Fees for professional services do not include expenses that the Center and/or the students incur in connection with representing you. These expenses are in addition to such fees and appear separately on the billing statement as “Disbursements.” Such costs include, but are not limited to: long-distance telephone charges, courier services, postage, photocopying, travel and related expenses, word processing, delivery, computerized legal research, and transcripts. Photocopies will be billed at 10 cents a copy. Mileage will be billed at the standard rate for business mileage allowed by the Internal Revenue Service at the time the expense is incurred. The Center also reserves the right to request that you advance any substantial out-of-pocket expenses. From time to time, the Center or Participating Firms may require you to advance any substantial out-of-pocket expenses, such as search or filing fees, prior to such services being performed.
Each statement reflects professional services rendered from either the start date of your participation in the Center’s program or the date of your last bill, depending upon the Client’s status in the Center. Services will be set forth on a daily basis, and all disbursements for the billing period will be listed as available. Fees and expense items not available for inclusion on a statement will be shown on subsequent statements. The Center reserves the right to charge interest on all balances left unpaid for more than 30 days. Interest on unpaid balances shall accrue at the rate of eighteen percent (18%) per annum (computed on the basis of a 30-day month and 360-day year) from the first day of the following month. If legal action is required to collect for non-payment, you shall also pay all costs of collection, including but not limited to, a reasonable attorney’s fee of not less than twenty percent (20%) of the amount of any unpaid balance. In addition, failure to pay any statement within sixty (60) days from its date may, at our option, result in withholding further legal services; provided, that we will not withhold services without first notifying you of the stoppage.
In the event that our professional services are terminated, whether at your instance or ours, you shall pay for all professional services rendered and Disbursements made up to and including the date of termination.
The terms of the Engagement Letter govern in the event of any conflict or inconsistency with this Billing Policy.
Non-LegalThe Center charges for all student time and work performed, including, but not limited to, conferences, telephone calls, travel time, drafting documents, and research. Fees for the services of students are billed on an hourly basis, subject to any limitations on aggregate hourly rates set forth in the Engagement Letter. Time is recorded in multiples of tenths of an hour and a minimum of 1/10th of an hour is billed for each activity performed.
The Center typically requires that its clients pay retainers based on estimated time necessary to complete the given matter prior to the commencement of services. This is to alleviate the need for the Center to expend resources collecting bills. In this regard, you agree that the Center will require a retainer of $___ n connection with the current matter. The retainer will be deposited in an Escrow Account separate from the Center’s own accents and the Center’s Attorney’s Trust Account. The Escrow Account is maintained in strict accordance with all applicable laws, and funds will not be disbursed to the Center until permitted by such laws. ’If the Center runs over the retainer amount, you agree that the Center may require you to pay additional retainer funds. Any retainer funds not billed against will be returned to you at the end of our engagement.
The Center provides clients with timely monthly statements for services performed and expenses incurred. Statements are due and payable in full upon receipt (unless covered by retainer). Fees for services are and will be based upon standard hourly rates for all services rendered, and unless otherwise specified, are subject to adjustment upward as we review our rates from time to time.
Fees for services do not include expenses that the Center and/or the students incur in connection with representing you. These expenses are in addition to such fees and appear separately on the billing statement as “Disbursements.” Such costs include, but are not limited to: long-distance telephone charges, courier services, postage, photocopying, travel and related expenses, word processing, delivery, database research, and transcripts. Photocopies will be billed at 10 cents a copy. Mileage will be billed at the standard rate for business mileage allowed by the Internal Revenue Service at the time the expense is incurred. The Center also reserves the right to request that you advance any substantial out-of-pocket expenses. From time to time, the Center or Participating Providers may require you to advance any substantial out-of-pocket expenses, such as search or filing fees, prior to such services being performed.
Each statement reflects services rendered from either the start date of your participation in the Center’s program or the date of your last bill, depending upon the client’s status in the Center. Services will be set forth on a daily basis, and all disbursements for the billing period will be listed as available. Fees and expense items not available for inclusion on a statement will be shown on subsequent statements. The Center reserves the right to charge interest on all balances left unpaid for more than 30 days. Interest on unpaid balances shall accrue at the rate of eighteen percent (18%) per annum (computed on the basis of a 30-day month and 360-day year) from the first day of the following month. If legal action is required to collect for non-payment, you shall also pay all costs of collection, including but not limited to, a reasonable attorney’s fee of not less than twenty percent (20%) of the amount of any unpaid balance. In addition, failure to pay any statement within sixty (60) days from its date may, at our option, result in withholding further legal services; provided, that we will not withhold services without first notifying you of the stoppage.
In the event that our services are terminated, whether at your instance or ours, you shall pay for all services rendered and Disbursements made up to and including the date of termination.
The terms of the Engagement Letter govern in the event of any conflict or inconsistency with this Billing Policy.
Excluded Services
The Center does not represent clients or provide services or advice to clients in connection with:
- Litigation or any other adversarial proceeding (other than filing amicus curiae briefs in appropriate circumstances and appeals to the Trademark Trial and Appeal Board)
- Matters requiring interaction with the United States Securities and Exchange Commission
- Prosecution of non-provisional patent applications before the United States Patent and Trademark Office
- Pension and profit-sharing plans
- Complex tax planning
- Opinion letters
- Audit letters