tag:blogger.com,1999:blog-7058786915356669476.post9146526880928338219..comments2024-03-27T08:57:40.383+00:00Comments on SOLO IP <br> for sole and small IP practices<br>: Client Accounts for AllFilemothttp://www.blogger.com/profile/15735898485265104580noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-7058786915356669476.post-63497672352700664372014-02-24T18:45:55.456+00:002014-02-24T18:45:55.456+00:00If you are a litigator you have to have a designat...If you are a litigator you have to have a designated account already...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7058786915356669476.post-37684321107546074672014-02-13T21:53:04.122+00:002014-02-13T21:53:04.122+00:00Quite straightforward really:
Money received befo...Quite straightforward really:<br /><br />Money received before you send out a VAT invoice = put it in the client account<br /><br />Money received after you have sent out a VAT invoice = put it in the office account<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7058786915356669476.post-1670667907665014672014-02-13T12:29:33.030+00:002014-02-13T12:29:33.030+00:00I wonder if the "high standard of service&quo...I wonder if the "high standard of service" for returning refunded EPO fees should be benchmarked against the EPO standard of service in providing reaction to responses on examination reports. In other words if we were to refund the fees to our clients within 12 months, would that be sufficiently "high"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7058786915356669476.post-59254347836039170422014-02-11T19:15:43.637+00:002014-02-11T19:15:43.637+00:00I would agree that refunded fees would be consider...I would agree that refunded fees would be considered to be client money.<br /><br />However, looking at the wording of the rule, it would appear that it has two parts.<br /><br />Firstly there is a requirement for all attorneys to have in place an appropriate system for managing client money.<br /><br />Secondly and separate from the first, there is a clear, absolute prohibtion on paying money received from a client (other than in respect of fees and disbursements incurred) into an office account. Any money received from a client must be paid into the client account.<br /><br />To fulfill the first limb of the rule, a mechanism must be in place to credit clients for any refunds received. However, that does not mean that there would necessarily be a breach of the rule if a refund was initially credited to an EPO office account and then subsequently paid out to the client account even though in theoretical terms that would involve a temporary mixing of client and office money. It really turns on whether such a system passes the "high standard of service" test required by limb one.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7058786915356669476.post-65153505115924091442014-02-11T16:43:36.826+00:002014-02-11T16:43:36.826+00:00Was wondering if Anonymous was IPReg itself - but ...Was wondering if Anonymous was IPReg itself - but the final line suggests not ! Here's hoping others will be encouraged to contribute. Anonymoushttps://www.blogger.com/profile/17547963789032954274noreply@blogger.comtag:blogger.com,1999:blog-7058786915356669476.post-63389244451099758092014-02-11T16:39:35.156+00:002014-02-11T16:39:35.156+00:00Still not sure how any / all of this is going to b...Still not sure how any / all of this is going to be policed ? Hope it's another light-touch situation so end-year question "Please confirm you have a client account which is being operated per Rule 11?" YES/NO ! Anonymoushttps://www.blogger.com/profile/17547963789032954274noreply@blogger.comtag:blogger.com,1999:blog-7058786915356669476.post-73855277858661520212014-02-11T15:48:32.626+00:002014-02-11T15:48:32.626+00:00Dont think We can treat client money is only that ...Dont think We can treat client money is only that which comes in from the client. As a litigator, you might well get client money from the other side as part of a settlement,costs or damages. There is no doubt that that would be client money to be held on trustFilemothttps://www.blogger.com/profile/15735898485265104580noreply@blogger.comtag:blogger.com,1999:blog-7058786915356669476.post-79697206460634949582014-02-11T15:36:08.131+00:002014-02-11T15:36:08.131+00:00The Rules have been on the IPReg website - in the ...The Rules have been on the IPReg website - in the ABS section for a while and the potential change was mentioned on the Code of Conduct page itself. What has happened is that IPReg have now set a date for implementation - 1 Jan 2015.<br /><br />Note also that they may be a get out for EPO and other refunds since the new rule refers to receiving "money from a client".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7058786915356669476.post-89447689468290962792014-02-11T09:18:29.458+00:002014-02-11T09:18:29.458+00:00Sorry - posted too quickly - forget the last bit (...Sorry - posted too quickly - forget the last bit (in brackets) : the Rule as set out is different from the version on the IPReg website !Anonymoushttps://www.blogger.com/profile/17547963789032954274noreply@blogger.comtag:blogger.com,1999:blog-7058786915356669476.post-82003742839485717532014-02-11T09:15:39.543+00:002014-02-11T09:15:39.543+00:00Thanks for posting this. I sent an email to IPReg ...Thanks for posting this. I sent an email to IPReg (duly acknowledged) asking whether there might be exemption / special rules for sole practitioners. No reply as yet - but good to know there's the whole of 2014 to take on board the new Rule (which has been part of the Rules as set out on the IPReg website for some time !) Anonymoushttps://www.blogger.com/profile/17547963789032954274noreply@blogger.com