The intellectual property department of Law firms includes services such as registration, enforcement, litigation and licensing of trademarks, designs, patents, copyrights, etc. The lawyer who understands the nature of invention, as well as how it affects the client’s business, will be best equipped to assist the client in protecting and managing the client’s portfolio.
Specializing in intellectual property gives a unique opportunity to be exposed to the cutting edge of research and development in many scientific and technical areas. They can participate in the patenting of pioneering breakthroughs, as well as making improvements to already existing inventions.
The brand manager has to not only understand the name/logo to associate with his product but also understand the implications of using a mark which can promote the sale or pose a hindrance to the sale of the product. The Brand Manager has to closely work with inventions, be an active participant in licensing and strategizing; prepare opinions and infringement studies and closely work with the negotiating team and with the IP Attorney.
These categories can in addition to being a player in creation of IP also be prospective patent attorneys and patent agents. To qualify as patent agent, one need not study Law.
CA’s will find it as a value addition in valuing their client’s intellectual property, rating patents, handling the financial aspects of intellectual property, accounting intellectual property as a capital asset, its valuation and giving considered opinions on the financial aspects of IP.
Communicating fair value of IP to investors, analysts, shareholders and potential suitors will be important for the realistaion of a company’s potential. The Company Secretary could well be the key player.
Dealing with the new emerging legislations and regulations, determining territories for growth and protection, understanding what can be done, when and where and how. Regulatory Officials will find the going smoother knowing the ABC’s of IP.
Those in the R & D division are always inventing and innovating and there is an urgent need to have proper documentation and protection as there is a great deal of intellectual property at stake. A chemist or an engineer may find the practice of patent and trade secret law to be the most rewarding way to use their professional ability.