If you want to close your practice you still have run-off insurance to buy and its going to be expensive to re-start so you need to be sure this is the right course if you are going to move in as a consultant. Often a consultant is just a grand name for an employee and this may well be a good option. There are very few IP vacancies advertised at the moment. However a consultancy is a way of sharing the risk and allowing you to preserve some independence.
- Will it be exclusive? You can make the system work for two perhaps as many as three firms.
- Is there a guaranteed retainer?
- Does the firm have a work stream for your speciality or are you expected to bring in or generate the work?
- What percentage of the billings you generate will you receive?
- What percentage of the billings for clients you introduce will you be entitled to.
- Does the firm you will be consulting for have a strong and established brand.