Intellectual Property Global Masters 2009
Published on 21 Oct, 2015
Download this report: Intellectual Property Global Masters 2009
Innovation and intellectual property (IP) have emerged as the key for the development of competitive advantage. Especially, in the current context of economic turmoil, shrinking sales and falling profits. However, only fierce protection of the innovations and the resulting intellectual property can ensure sustainable success.
Having said that, managing IP is a difficult task. According to one assertion, "97 percent of all U.S. patents have no economic value." Further, research suggests that companies with patent portfolios of more than 250 have about 10 percent of invalid patents. Over the course of the 20-year life span, the average cost of a single patent is about $25-250,000 excluding lawyer fees, overheads and other costs. And worse, it is estimated that good companies use only 20 percent of their patents while badly run companies use only 10 percent. Given these facts, corporations have a lot to worry about their current competitive edge and future sustainability.
And it's not just the corporations; the law firms are also facing several challenges while providing legal services to the clients. According to Inside Counsel's 19th Annual Survey of General Counsel 2008, 85% of in-house counsel said that economic conditions are increasing pressure to spend less on outside counsel while only 11.6% of the in-house counsels believe that the law firms are seeking active ways to reduce cost of legal services. Given these facts, law firms have to rethink about how to meet their client's expectations in changing global IP environment.
On June 15-16, 2009, over 60 European business leaders and Intellectual Property Managers met in Berlin at the Econique Intellectual Property Masters Global 2009 conference to discuss the challenges and to exchange their experiences in IP management.
Aranca, a leading provider of IP Research and Analytics Services, was the exclusive Research Partner for the Event.
This report presents a summary of some of the burning questions discussed, and highlights some of the breakthrough ideas and insights gleaned from the two-day event. We look forward to your thoughts on the issues in managing IP.