More IP Work Going In-house, Less to Outside Firms
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In-house counsel have gotten a lot more savvy about intellectual property, so much so that most law firms should not expect IP to be the major source of revenue, workload and growth potential in 2015 that it’s been in the past, according to a new survey.
After four years of growth the tide is turning, BTI Consulting Group says in its report, “BTI Intellectual Property Outlook: Changes, Trends and Opportunities in IP and IP Litigation.”
“Caseloads shrank by almost 12 percent in 2014, reflecting a more acute sense of strategic priority in managing intellectual property,” the report’s executive summary notes.
In-house counsel now have practical experience with IP litigation and the implications of the American Invents Act. And they are not only better at managing their organization’s IP but also at managing their IP law firms, the survey says.
To be sure, the market value to outside counsel for IP and IP litigation is $8.5 billion, according to the report. And the potential for slow but steady growth makes IP one of the most-sought-after practices for almost all law firms. IP litigation in particular has offered law firms the perfect mix of big cases with high stakes.
Read more: www.corpcounsel.com/id=1202662258830/More-IP-Work-Going-Inhouse-Less-to-Outside-Firms#ixzz37jL1rUVz
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