23rd April, 2019
Basel – 23 April 2019: FICPI, the International Federation of Intellectual Property Attorneys, has announced the publication of a new detailed report on whether the IP profession adds value to the innovation process and how that value can be assessed, both objectively and subjectively.
Innovation is widely recognised as a powerful driver of the economy, and innovation inevitably generates intellectual property rights. Recent reports from the United States Patent and Trademark Office (USPTO) and European Union Intellectual Property Office (EUIPO) document the extent to which intellectual property rights affect the US and European economies and workforce. The report “The Changing Face of Innovation” by the World Intellectual Property Organization (WIPO) contains an exhaustive review of studies and their findings that support the development of IP regimes to protect innovation and benefit the economy. None of these studies and reports considers the role played by the intellectual property practitioner in obtaining high-quality intellectual property rights and in the exploitation of those rights. FICPI’s report examines the role of the IP profession in attaining high quality IP rights that are of value to the innovator by reviewing the nature of the IP system and the position of the IP practitioner within it and proposes a number of methodologies by which the value provided by the IP practitioner can be assessed.
The final report was prepared over several years with many hours of work by numerous authors and editors around the world and will be of interest to IP authorities and clients of the IP profession as well as individual IP practitioners.
The President of FICPI, Julian Crump, commented:
“I congratulate the authors of this important new report which clearly explains the crucial role played by the IP professional in securing high quality IP rights. Some IP authorities do promote the advantages of using an IP professional to innovators, but the primary factor for many innovators in determining whether to seek protection for an innovation still appears to be the immediate expense of obtaining professional services. The long-term benefits resulting from investment in high quality IP rights are often overlooked. I hope this report will go some way to redress that.”
Past FICPI President, John Orange, who is the lead author of the report, agreed and added:
”The role of the IP Professional within the innovative community is not well understood, making a cost benefit analysis difficult. The report addresses that by examining what the profession does and how it is organized before looking at indicators of value. It is hoped that the report will be a platform for others to examine particular issues further and enhance the profession’s role in supporting the innovative community.”
A copy of the report can be found here.
FICPI, the Fédération Internationale des Conseils en Propriété Intellectuelle, established in Paris in 1906, is a nonpolitical international federation of national and regional associations of intellectual property attorneys in private practice, with a rapidly growing membership of nearly 6000 Members. FICPI is a global body, broadly representative of the free profession, and plays a leading role in advancing and stimulating improvements in intellectual property law, the profession at large and its members’ professional impact on society.