Creating relationships, building value and being proactive are all part of the new business model created by the attorneys at Advent, an intellectual property law firm in Omaha.
Instead of billing per hour, Advent determines a value for a project and a pricing structure that encourages clients to reach out. “We have found that we learn more about our clients’ business under such a model,” said Ryan Grace, a founding partner. “Our clients are more open about their projects and bring us into the mix much earlier.”
All seven of the firm’s attorneys are registered patent attorneys with the U.S. Patent and Trademark Office, and all also have degrees in engineering or computer science. Additionally, most have extensive experience working as engineers or inventors. That experience helps them reach out to their clients.
“Since we are inventors and engineers, we have a ‘front line’ perspective of the challenges that our clients go through,” Grace said. “We can anticipate many of the problems that they will see down the road and be proactive to solve them before they are an issue. Our engineering backgrounds also allow us to quickly grasp our clients’ technology.”
Additionally, because of the value-based pricing and the attorneys’ backgrounds, the firm has helped clients with their inventions to improve the marketability of their patents, Grace said. “Over the last couple of years, our attorneys have been listed on dozens of patents and patent applications.”
The firm has clients ranging from Fortune 500 companies to startup companies and independent inventors. Among its services are a technology and competitor patent watch service and also a freedom-to-operate analysis to determine if a client’s actions would infringe on another patent.
Grace said his firm works with several Bio Nebraska members and appreciates the association’s work. “By creating a community for its members, Bio Nebraska helps foster innovation and progress in the biosciences.”