Costs / Split - B-Lunist
posted on
Jul 10, 2007 12:15AM
From the March 07 8-K, we see there will not be an hourly fee included as an expense.
Fees . Duane Morris will agree to handle e.Digital’s Patent Enforcement Matters on a contingent fee basis. In other words, our fee will depend upon whether or not we are able to recover any sums on e.Digital’s behalf, including but not limited to by way of settlements, judgments, licensing transactions, or the completion of any other transaction (the “Resolution”). We have advised you that our fees are normally based on the time spent and the regular hourly rates of each attorney and legal assistant performing services on e.Digital’s behalf regardless of the outcome. However, given the nature of e.Digital’s cases, you have chosen to accept our offer to handle the matter on a contingency fee basis and you have rejected hourly rate representation. Accordingly, our fees will be based upon any Resolution as follows:
Contingent Fees Without Litigation . In the event that the Company licenses the Norris Patents without filing litigation, Duane Morris’ fee will be 40% of the licensing fee.
Contingent Fee in the Event of Litigation . In the event that a party refuses or is not asked to license the Norris Patents or any element thereof, and litigation is filed, Duane Morris shall be entitled to the following contingent fees of the total recovery (“Total Contingency Amount”) in each individual case upon the Resolution of the matter:
Upon filing of complaint or counterclaim |
40% |
in declaratory judgment action |
|
Upon appeal of trial |
50% |