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The future of IP management

New technology will allow law firms to offer their clients new opportunities and help drive their business strategies, writes Simon Webster

6 December 2016

Is there an opportunity for law firms to elevate their roles in intellectual property management? Can they offer clients new opportunities through the application of big data? Two questions that IP specialists must ask themselves in this new age of IP awareness.

Patent filings are at an all-time high and the IP landscape is getting more complex to navigate. Historically, IP management was a manual process with paralegals spending hours on administrative tasks. As automated tools have been introduced to streamline filing and renewals processes, firms will experience some relief from administrative tasks – but their IP strategies will be under the spotlight.

In a digital age the acquisition, protection, and monetisation of IP lies at the core of business value. IP portfolios make up some 70 per cent of a company’s value. Law firms are starting to identify how much ...

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