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You are getting caught up in the mantra,

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nobody12378 Member Profile nobody12378  
Thursday, May 10, 2012 3:24:20 PM
Re: jimmowrey post# 28374 Post # of 34750 
You are getting caught up in the mantra, "anything Nobody says is bogus because he works for ICM".


The way to handle this is by contacting a bonding company at the outset. The bonding company will charge a premium for a bond. The bond is typically like an insurance policy in which it charges a percentage such as 1% or 2% on the face value of the bond for each period of one year. A premium of one year is collected with the bond. Depending upon the financial statement of your client, a bond may or may not be written on signature. This generally means that your client will have to often complete a financial statement showing its ability to respond to damages in the event that the Court forecloses on the amount of the bond which turns out to be improvidently granted. Although your client may be reluctant to do so, it is important for it to have early communication with the bonding company so that the bond can be written immediately after the preliminary injunction is ordered. If your client happens to be a very large company, the bonding company may be satisfied without a necessity of formal paper work, but that may not be true for smaller companies and individuals and in some situations, the bonding company may not even agree to bond the company except on deposit of actual funds, CDs, or other marketable securities.

The deposit referenced here is the premium for the bond NOT the cost of the bond.

Written by an experienced intellectual property attorney on the West Coast.

http://www.supnik.com/inj.htm


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