Vorys Patent Group Publishes White Paper Focusing on Changing Patent Landscape and Need for Strategic Approaches to Patent Portfolio Development and Management
Attorneys from the Vorys, Sater, Seymour and Pease LLP patent team today released a white paper that details disruptive trends in the global patenting space. A PDF of the white paper can be downloaded here.
The white paper discusses the technological advances that have spurned innovation to an extent never before appreciated. Pressured to protect such innovations, companies are shattering records year after year for the number of global patents filed. Yet, the desire to revolutionize may have arrived at one of the worst eras for protecting patents because of economic pressures.
The world’s economies are turbulent and – following the Great Recession – decision makers are appropriately cost-conscious. In-house patent counsel must protect accumulating innovations in the face of increasing budget pressures; their jobs are difficult at best, and impossible at worst. Either the economy or the tidal wave of advances alone would have been disruptive. Together, they combine to cause one of the greatest fundamental shifts ever experienced in patent practice, what the team refers to as the perfect storm.
“One of the most consistent things that our clients and in-house patent counsel around the world tell us is that they face continued budget pressures, meaning that they have to do more with less,” said Carey Jordan, a partner in the Vorys patent group. “We explain in this paper what we believe successful companies will do in the future to ensure shrinking budgets do not lead to lost opportunities in the future.”
According to the white paper, companies will need a fresh approach to patent management. IP leaders must obtain and manage robust patent portfolios strategically, both from an innovation perspective, as well as a cost perspective. Smart companies will use tools to ensure business goals align with patenting strategies and that patent spend is strategic. In this white paper, the team outlines the disruptions in the industry and a vision for a smarter future for global patent portfolio management.
About Vorys and PatentlyIntegrated™
Vorys, Sater, Seymour and Pease—a full-service law firm—brings an innovative and proprietary solution to patent procurement and portfolio management. PatentlyIntegratedTM provides a unique set of services designed to increase a company’s efficiencies, patent quality, and patent budget spend management. PatentlyIntegratedTM is based on our practitioners’ many years of patent experience and input from in-house patent counsel about the increasingly complex challenges of managing a patent portfolio. PatentlyIntegratedTM addresses these challenges and provides data-based, algorithmic and technology solutions, combined with personalized service, to help clients save both time and money while obtaining better quality patents in-line with business objectives. Visit: https://practices.vorys.com/patentlyintegrated