What is the right-sized budget for drafting and prosecution?
Minneapolis patent attorney Steve Lundberg, founding shareholder of Schwegman Lundberg & Woessner explains how to budget for drafting patent applications and patent prosecution
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So the question is what’s the right amount or the right sized patent prosecution, you know, a drafting a prosecution budget, and you know, the answer to that is essentially a budget set that allows the drafting attorney to exhaust all the obvious, you know, variations of the technology and to capture as much value as they possibly can in a reasonable period of time. And if you pick that number, and it should be generous enough budget so that the attorney does not feel as though he or she actually has to cut corners, at the same time it shouldn’t be any more than is required to achieve that goal, and that’s a right-sized budget.