Bookkeeping and Accounting for Intellectual Property Law Firms

Intellectual property practices manage a unique mix of work: patent and trademark prosecution with recurring government fees, maintenance and renewal deadlines, foreign associate invoices in multiple currencies, and in some firms, high-stakes IP litigation. A&W Associates provides bookkeeping for IP law firms that keeps official fees, foreign costs, and client billing accurately recorded.

USPTO and Official Fee Tracking

Filing, issue, maintenance, and renewal fees are often advanced on behalf of clients. We track official fees by matter, make sure they are billed back promptly, and separate them from your professional fees for clear reporting.

Foreign Associate Invoices and Currency

International filings involve invoices from foreign associates in different currencies. We record those costs accurately, reconcile them to client billing, and help you understand the impact of exchange rates on your margins.

Flat-Fee Prosecution and Hourly Litigation

Many IP firms charge flat fees for applications and office actions while billing litigation hourly. We set up your books to track both, with WIP accounting that shows unbilled time on litigation matters.

Client Cost Deposits and Trust Accounting

When clients deposit funds in advance of large filings, those funds must be held in trust. We perform monthly three-way reconciliation of your IOLTA and trust accounts.

What We Handle for Intellectual Property Firms

Official fee advances and billing by matter
Foreign associate invoice reconciliation
Flat-fee and hourly revenue tracking
IOLTA and trust account reconciliation
Accounts payable and receivable
Payroll coordination
Monthly financial statements and tax-ready books

Why IP Attorneys Choose A&W Associates

With over 25 years of accounting experience and specialized training in legal bookkeeping, our team gives your practice accurate, timely financial records. Contact us today to learn more.

IP Practice in Dallas, Austin, Chicago, New York, and Miami

IP practices tend to gather around technology hubs, patent litigation venues, and international trade gateways. Each setting produces a different mix of prosecution fees, litigation costs, and foreign associate invoices. We work with IP firms in these markets remotely.

Texas: Dallas, Austin, and Houston

The USPTO’s Southwest Regional Outreach Office is in downtown Dallas, and Texas federal courts carry one of the heaviest patent litigation dockets in the country. Texas IP firms often run high-cost litigation alongside prosecution work, so we track expert fees, e-discovery vendors, and travel costs by matter, separately from USPTO fee advances.

Illinois: Chicago

Chicago has a long-established patent and trademark bar serving the Midwest’s manufacturers and consumer brands. Prosecution firms here manage large portfolios with recurring maintenance and renewal deadlines, and we schedule fee advances and client billbacks around those deadlines.

New York: Manhattan

New York IP practice leans toward trademarks, copyright, licensing, and brand protection for media, fashion, and finance clients. Royalty and licensing work can involve funds held for clients or third parties, and those funds must sit in a properly titled New York attorney escrow account, with seven years of records.

Florida: Miami

Miami firms frequently file trademarks and handle IP matters for clients across Latin America, which means a steady stream of foreign associate invoices in different currencies. We record each invoice at the right exchange rate and reconcile it to client billing, so currency differences show up in reports instead of disappearing into margins.

Intellectual Property Law Firm Bookkeeping Near You

A&W Associates supports intellectual property firms throughout Florida, Georgia, Alabama, and New Mexico, and works remotely with firms in California, Texas, Illinois, and New York, including Los Angeles, San Francisco, Houston, Dallas, and New York City. See our service area for the cities where we work with law firms, or contact us to ask about your location.

About A&W Associates

A&W Associates was founded by Angela Weicht, who brings over 25 years of financial and accounting experience, beginning in banking as a risk control specialist and fraud control analyst and continuing as an office manager and accounting manager for private businesses. The firm holds Certified Public Bookkeeper and QuickBooks ProAdvisor credentials and specializes in bookkeeping for law firms and nonprofits.