Is Intellectual Property Management in the Future for all Companies?

Who’s suing for what?  What is pending against who?  Why are they filing where?  Thousands of intellectual property cases are making their way on dockets across the country each year.  It would almost make sense these days to have a separate division strictly for handling intellectual property issues in every business in corporate America.

Intellectual Property Law

Business lawyers are fundamental in building a business structure that upholds legal aspects of taxes, operations and can help establish a solid framework to protect you and your investors.  They can help draft up contracts and navigate the complex areas of being a business owner.  But, unless they are also qualified to represent clients in Intellectual Property law, you may need to consider hiring an intellectual property attorney for any IP concerns such as:

• Patents
• Trademarks
• Licensing
• Trade Secrets
• Copyright
• Entering litigation with a Plaintiff
• Prosecution for legitimate IP infringements
• Litigation or representation in court

It is a common misconception that your attorney who helped you start your business is always the same person to represent you in intellectual property concerns.  Even within IP law, there are in depth complexities requiring further specialization.

Intellectual Property Management Firms

For most, if not all, super corporations, they already employ their own intellectual property management firms and attorneys.  A management firm may be able to assist companies with various aspects that have become relevant in today’s cut throat market at almost every level of entrepreneurship.

• Risk management
• Maintaining an IP portfolio
• Record keeping
• Law firm solutions
• Patent, copyright and trademark renewals
• Global IP concerns
• Cloud based management and software specific to IP issues

American Invent Act of 2011 Hasn’t Solved the IP Dilemma

Some analysts would argue that the legislation only stirred the pot, leaving the shaken sector with a lot of sections that lack in clarification.  Some say that it helps nudge America along into the growing demand for global collaboration.  But the truth is that we are all in fairly new territory.  Our nation was built on trade of tangible resources, the development of cold and hard steel machinery and the development of goods and services that can be easily quantified.  Now, economic growth is driven by intellectual property.  It isn’t the assets of farmland, assembly lines or railroad ties.  It is caught up in the race for the next person to come up with the biggest and the best idea to make life simpler.

The smaller companies haven’t got much of a chance without appropriating enough resources from the get go into the aspect of IP management.  Startups get infringement letters before they can make it big.  Fast paced and technological evolution outpaces the judicial system.  What was once designed to embrace innovation is now seeming to spurn it.