LONDON, August 29, 2012 /PRNewswire/ --
In a 2012 pan-industry study of IP directors from more than 20 countries, IQPC's Global IP Exchange found that 81% of IP directors want to create a holistic approach to IP management, to integrate all IP rights into one coherent strategy. 64% of the senior IP executives surveyed recognise the right balance between internal and external resources as a high priority, and half are pursuing better IP optimization/monetization.
The survey also revealed that effective selection and benchmarking of external vendors is crucial for the smooth running of a global IP department now that pressure for cost cutting has risen in 2012 (with 64% selecting this as a current focus).
Other key highlights from the study include:
- 59% of IP directors are planning to invest in external providers for patent drafting and filing in the next 12 - 36 months
- 50% are searching for translation services
- 33% are looking for new domain name registration providers
IP directors use a variety of methods to source new vendors to meet their needs. The most popular being recommendations, at 92%, conferences and events at 77%, internet searches at 53%, and industry news - both online and press - at 43%. Online adverts (19%), and sales and marketing emails (15%) proved less popular methods of sourcing vendors.
The research was carried out with IP decision-makers from a broad range of industries and geographies, from Europe, America, Asia-Pacific, Africa and the Middle East. Ailsa Hardy, the Director of Research of the Global IP Exchange, commented "These findings show how important the selection of external partners is for IP directors. As pressure mounts to prove the value of IP to the board, and to further monetize their IPR to add value to their business, IP directors cannot afford to make the wrong choice when selecting vendors."
Further strategies and priorities of global IP directors will be debated at the 4th Global IP Exchange, taking place from 3-5 March 2013 at the Dolche Hotel, Munich, Germany. Join Dr Michael Kock, Head IP at Syngenta AG, Zack Zhao, Asia Pacific Region Chief Intellectual Property Counsel at Dow Chemicals, Nils Breidenstein, Group IP Counsel & Associate General Counsel at Invensys, plus providers such as CPA Global, MultiLing, Charles River Associates and more, who have already secured their place at this popular senior level IP Exchange.
About the Legal Exchange Network
The Legal Exchange Network host a series of invitation only forums designed to help senior strategy makers overcome their most pressing IP challenges. Exchange only invites in-house Counsel and legal executives with the highest credentials, and solution providers with the most cutting edge capabilities, to deliver a unique business development opportunity and true peer-to-peer learning and networking forum. http://www.globalipexchange.co.uk/PR
SOURCE IQPC Exchange