Recent success at local tech companies is proof of UMBC?s new legal center?s effectiveness.
Launched in June, the University of Maryland?s tech business-assisting legal resource center ? the only one of its kind inside a technology incubator, officials say ? uses supervised law students to help keep fledgling local companies afloat.
In the three months since it opened its doors, about seven local firms have taken advantage of its services, Tech Center Director Frederick Provorny said.
“The kinds of services we provide cover the full range of intellectual property matters, including the drafting of patent applications … as well as a wide range of business legal services from the drafting and review of contracts to help with the formation of corporations and licensing agreements, including international joint venture agreements,” Provorny said.
Amulet Pharmaceuticals, a small, bio-technology company, headquartered in the park?s “incubator” facilities, conferred with the center ? formally the Maryland Intellectual Property Legal Resource Center of the University of Maryland School of Law ? over intellectual property- and patent-related “freedom to operate” issues, derived “enormous” benefit from the experience, chief executive officer Craig Liddell said.
“As a small company ? and a bio-tech ? intellectual property issues are extremely important to us. …,” he said. “And so this legal resource center was actually a wonderful opportunity to take care of some issues that were pressing but not absolutely urgent ? and have them taken care of by competent people. Sometimes it?s the second tier [legal] challenges that can sink you,” said Liddell.
“The key issue here is that the legal resource center is a great resource for either very, very young companies with no legal budget or companies like us that have a very limited legal budget, but need to cover more bases than our budget can afford.”
The center, a recent beneficiary of a $25,000 county grant for its public-private work, has a supervisory staff of two and a revolving number of law student practitioners who provide the actual assistance with mentoring from staff, law school faculty, and practicing outsideattorneys.
The free service is available not only to the Tech Center?s 42 resident companies but also to strapped, high-technology companies in surrounding counties.
