LOS ANGELES--(BUSINESS WIRE)--Richardson Patel is pleased to announce that it is one of the first law firms in the United States to accept Bitcoin as payment for legal services. This initiative follows Richardson Patel’s long history of structuring attractive payment arrangements with its clients.
The firm has been tracking the recent developments of Bitcoin as a viable payment alternative to cash or credit. With the continued robustness of global wallet and exchange platforms like Coinbase, which Richardson Patel will be using for processing Bitcoin payments, the firm concluded this was the next evolutionary step in maximizing fee flexibility for its clients. The firm believes this initiative will be especially helpful to the firm’s foreign issuer clients in countries such as China and India, which restrict the flow of funds to the United States.
“Once we saw mainstream companies like Overstock accepting Bitcoin and a Hedge Fund in San Francisco advertising to hire a Bitcoin trader on its trading desk, we knew we had to consider accepting this cryptocurrency,” said Richardson Patel’s co-Managing Partner, Nimish Patel. “We realize there is considerable uncertainty and debate over whether Bitcoin will become a mainstream alternative currency but feel strongly about remaining on the cutting edge for our clients,” added Mr. Patel. In closing, Mr. Patel said, “With Coinbase serving as our global wallet and exchange platform, we feel comfortable in limiting the firm’s exposure to currency fluctuation, while enhancing access to legal services for our foreign clients from countries that have historically restricted funds transfers to the United States.”
About Richardson Patel
The law firm of Richardson Patel focuses on corporate & securities law, mergers & acquisitions, and business, securities & employment litigation. Richardson Patel’s competitive strength lies in its ability to blend its entrepreneurial spirit with its grasp for complex legal issues. As a valued partner to emerging growth clients, Richardson Patel has seamlessly integrated the art of business and the science of law to deliver Business Minds for Legal Matters.