2017 Report of the Economic Survey

AIPLA Report of the Economic Survey 2017

PRIVATE FIRM, OF COUNSEL

 There were 41 private firm, of counsel attorneys who participated in the 2017 survey. They had, on average, 22.9 years of IP attorney experience, and were more likely to hold a bachelor’s degree as the highest educational degree held other than a law degree (56.1%).  The 2016 median total gross income for of counsel attorneys was $246,000, 7.0% higher than the median reported for 2014 ($230,000).  The median year-end bonus was $10,000.  Employer’s median 2016 contribution to the responding of counsel attorneys’ 401(k)/403(b) retirement and savings plans was $12,000.  Of counsel attorneys reported a median expected cash income for 2017 of $225,000 – which is lower than the median income reported for 2016.  Half (49.6%) of private firm, of counsel attorneys’ time is spent directly on IP prosecution work, and 17.3% of their time is spent on IP litigation.  Patent work accounted for an average of 71.5% of all of counsel attorneys’ time.  Of counsel respondents reported an average of 130.8 full-time IP lawyers and patent agents at all locations. This is much higher than was reported for 2014 (76.8), 2012 (71.6), and 2010 (66.1).  An average of 14.3 new priority US and PCT patent applications were prepared and filed by private firm, of counsel in 2016. This is lower than reported in 2014 (24.4), but more similar to that which was reported in 2012 (16.4) and 2010 (13.6).  Median billable hours recorded by of counsel respondents in 2016 was 1,300 – a decline from the 1,447 billable hours reported for 2014, and 1,400 hours reported for 2012.  The 2016 median average hourly billing rate for private firm, of counsel attorneys was $472 – a 12.4% increase over the $420 reported for 2014.  Hourly billing was used for 73.5% of services billed by private firm, of counsel attorneys. Predetermined fee was used for 22.0% of services billed.  In 2016, the median dollar amount billed for legal services by private firm, of counsel attorneys was $575,000 – higher than what was reported for 2014 ($551,000).  The average number of hours spent per week on business development by of counsel private attorneys was 6.2. More than one-third (35.0%) of responding of counsel attorneys were familiar with the Global Dossier.

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