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April 23, 2021

Comment: Evolving Role of IP Professionals as Service Providers

Author: Sannidhi Mahapatra

The COVID-19 pandemic was a harbinger of change in the functioning of every industry across the globe, law firms being no exception. It accelerated us to the future, causing IPOs, in-house practitioners, and law firms to pivot perhaps more quickly than anticipated. The traditional system underwent a drastic makeover with remote working, remote communications and meetings, online invoicing and payments, and even remote court appearances and TMO hearings being the norm. Future law firms are expected to be better acclimatized and more evolved in their practices and procedures from the pandemic-learnings, hopefully  more agile and effective as well as more diverse and inclusive.

Future trends in law firms that are anticipated are the moves toward a business partner relationship, technological advancement such as AI and automation, and operational changes, such as the blurring of separation between IP professionals and service providers. Over the years, the scope of an IP firm has transcended traditional roles of trademark protection and enforcement and embarked into the territories of service providers viz public relations, policy, data privacy, regulatory services, promoting innovation, providing education on IP, and understanding the IP marketplace, such as how stakeholders discern IP valuation and make licensing decisions etc.

The INTA’s “In-House Practice of the Future Think Tank Report”[1] remarks upon this trend- “In the future state, trademarks will continue to be the key area of responsibility; however, the roles will evolve, as the nature of the work continues to change, and in-house teams take on additional responsibilities,” Clients are increasing their expectations from the in-house legal teams, who are increasingly being tasked to do more with less. IP professionals will also continue to expand the scope of their services, donning the hat of a business advisor. Law firms will strive to equip themselves with the knowledge and flexibility to counsel and support business clients across wide-ranging industries and issues.

It is imperative for law firms to remain flexible and diversify their services customizable to client specific business needs. It will be the add-on services such as branding, portfolio management, the use of technology and communications, innovation, etc. that will set firms apart and ensure their success and growth. The INTA Report also contains an important note about Intellectual Property Offices (IPOs)- “With so much change occurring simultaneously, we must ensure that IPOs of the future are nimble and robust enough to absorb, manage, facilitate, and enable change.” To conclude, this author is of the view that the future of IP professionals entails a shift from being just restricted to legal advice to more comprehensive client service.

References:

  1. https://www.inta.org/perspectives/ip-law-firms-of-the-future-think-tank-report/ last accessed on March 26, 2021

Disclaimer: Views, opinions, interpretations are solely those of the author, not of the firm (ALG India Law Offices LLP) nor reflective thereof. Author submissions are not checked for plagiarism or any other aspect before being posted.

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