Picked a flat rate retainer over hourly billing for a trademark filing. Regretted it after 2 extra revisions.

Had a client come to me last month with a straightforward trademark app. I normally do hourly but thought hey, flat rate would be simpler for them. Charged $800 flat. They came back with 2 major revisions that took like 4 hours extra. Felt dumb watching the clock. Hourly would have netted me way more. Anyone else get burned on flat fees for stuff that seems simple?

3 comments

3 Comments

brooke44816d ago

Totally see this same trap playing out everywhere, not just law. My buddy did a flat fee for fixing up a deck and ended up replacing three rotted boards he didn't plan for. People always treat a flat price like an all you can eat buffet, then act surprised when you want more money for a second plate.

anthony_jackson3117d ago

Picked a flat rate retainer" is a little off. Flat rate and retainer are two different things. A retainer is like a down payment you work against hourly. A flat fee is a single price for the whole job no matter the hours. You probably meant just flat fee. Anyway yeah flat fees for trademark apps are risky because the USPTO can issue office actions that take hours to untangle. I learned to cap revisions or charge extra past a certain point.

margaretc4217d ago

There's also the hidden cost of client education. I've spent way too many hours explaining basic trademark law to clients who think a flat fee means unlimited changes and strategy sessions too.