April 14, 2021
On April 2, 2021, intellectual property service provider NovumIP released the IP Industry Outlook 2021.
The report is based on interviews with more than 500 IP professionals around the world. The main survey is as follows:
(1) The biggest challenges facing the IP industry, including how the outbreak affects access to and management of IP portfolios;
(2) Priorities for IP investment in 2021 and beyond, including areas where IP professionals want the IP industry to develop;
(3) The role of IP service providers, including opportunities for suppliers to enhance their products and services to better serve IP departments and law firms;
(4) The impact of industry consolidation on IP professionals, including IP professionals' views on IP management technologies, costs, future priorities, etc.
According to the report, the COVID-19 pandemic has led to a dramatic change in the way IP professionals manage their patent and trademark portfolios, which most IP professionals are optimistic about as the IP industry consolidates and becomes more globally integrated. But the main concern is that IP owners and their advisers are facing the need to find more effective ways to address their portfolio management challenges while focusing on the long-term strategic value of IP.
To address these challenges, the report identifies three key pain points for patentees in the post-epidemic era: adding value to the IP portfolio, reassessing IP strategies and technologies, and reducing costs and complexity.
