The future of IP management for law firms

IP professionals face a far more uncertain world today than in the past.  Filings are at an all-time high.  According to the World Intellectual Property Organization (WIPO) statistics database, more than 2.6 million patents were filed globally across more than 160 patent offices in 2014.  This number has increased every year since 2009 and there is almost three times the level of filing activity since 1990.  The sheer scale and volume of filing and competitor patent activity increasingly challenges IP departments that are already overstretched.
The landscape in which IP professionals work is becoming increasingly complex amidst fluctuating policies in different territories, and new developments such as the European Union unitary patent scheme. As well as issues and legislation that impacts the validity of new and historic patents.  As business continues to globalize, IP professionals need to understand the changing environment for the benefit of their own IP in other countries, as well as their competitors.
Automation, outsourcing and IP management software (IPMS) now helps IP departments and legal firms to manage their IP portfolio more efficiently. As these solutions become more sophisticated, IP professionals are afforded the time to consider IP portfolios at a strategic level, asking questions such as: “What is the value of this IP to me and in which countries?”; “How do I ensure my company is effectively protected?”; “What is missing from my IP portfolio?”.

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