Sharon explained that the potential of any individual is determined by many factors, including cognitive intelligence (IQ), emotional intelligence (EQ), skills, knowledge, experience, and social network. However, it is Positive Intelligence (PQ) that unlocks the potential of any individual, team or firm.
Delegates had taken the Saboteur Quiz in advance to get individualised insights to identify their internal voices (Saboteurs) that undermine self-confidence and prevent us from leading and being our best. Markers showing a score of 7.5 and above in the results for the 10 saboteurs are the most significant.
Sharon said, “Identifying saboteurs is a Superpower which activates and unlocks potential to increase your personal satisfaction, interpersonal effectiveness and the performance of your team and firm. It allows leaders to lead from the heart and staff to feel valued, important, and accepted.
“Worrying about what other people think is a major stumbling block, holding us back. We can cultivate, anchor and build strength from within. Our brain is hard wired to protect us and to hide our open selves but getting comfortable with ourselves and our emotions is important as they drive passion, purpose, and motivation…”
If you would like to take the Saboteur Quiz, visit: www.positiveintelligence.com
Thanks to our session sponsors, Kangxin Partners.
This session zeroed in on one of the most formidable challenges in the legal industry today: pricing.
As well as being a hugely engaging speaker, Norman is also a very clear communicator, able to explain very involved subjects with clarity. Pricing is “complexity in multiple dimensions”, he stated.
Pricing in IP is also a specific challenge to the speciality, the firm, a partner’s expertise, the firm culture, and more… including meeting client expectations, and the demands of the market. As Norman noted, one size in pricing usually fits nobody very well!
Pricing is especially pertinent in the field of intellectual property, where law firms are grappling with the need to set competitive prices in a rapidly evolving legal service market while ensuring sustainable profitability.
“Shifting the conversations from price to value is important, as is building a fee that’s sustainable for the firm,” Norman said. “Exceeding client expectations is where the value lies! Identify how you can help clients achieve their goals and move away from the transactional.”
Moderator Louis Lagler, of Rentsch Partner in Switzerland, and Vice President of FICPI’s Practice Management Committee, brought his firm’s perspective and the FICPI PMC perspective on pricing and firm organisation, specialisations, departmental structures et al.
This session was packed with sage advice for legal professionals seeking to craft fee structures that not only attract clients but also guarantee long-term financial health for their firms.
Delegates were also treated to a special gift - a copy of Norman’s book, launched at the Open Forum. ‘Win Win Pricing for Law Firms’, is available from www.walkerclark.com in soft copy and available via Amazon in hard copy or Kindle.
FICPI members may participate in exclusive member-only quarterly symposia organised by FICPI’s Practice Management Committee. The Q4 dates are 29th November for EU and America, and 6th December 2024 for Asia Pacific where IP practice leaders can hear direct from Norman on leveraging client relationships for sustained profitability and growth.
Thanks to Al Tamimi & Company for sponsoring this session.
Whilst IP valuation is complicated by IP's intangible nature and the vague market parameters it involves, the panel noted that investors will be looking at 3 main criteria: sustainable value, risk, and ROI.
In terms of valuations, the way we see the future today will differ from the way we saw it just a few years ago. Context matters! The economic value is an opinion concerning the future and uncertainty is the rule!
André Gorius of Winnotek in France, observed that companies with stronger IP assets generally have a stronger free cash flow.
Moderator Andrew Hicks of Field Law in Canada was joined by André, plus Éva Kovács of Continest Technologies Plc in Hungary and Levente Pethő of Danubia Group in Hungary.
The discussion focused on key touch points at different stages of the innovation lifecycle where IP professionals can play a critical role in providing tailored, yet independent and compliant advice. We also discussed the differences between large and small clients and explored a range of tools available to enhance service delivery to meet and exceed client expectations.
Thanks to our moderator, Britta Fromow of James & Wells in New Zealand, and to our panellists. Britta highlighted that understanding the client’s needs and business is critical to best support innovation. Martin Bader of BGW IP in Switzerland said clients typically come to him asking how to get to and stay at number one in the market and favours a very collaborative way of working with the client. Arthur Lallement of Endomag in the UK spoke about a case study on the detection of illnesses using nanoparticles and radioactive isotopes to remove exactly the right amount of cancerous tissues from the lymphatic node so avoiding mastectomies for ladies. He noted that an IP strategy to avoid people copying the product was critical for the firm.
Thanks to our session sponsors BSKB.
Tips from Sonia included:
- Using prompts with generative AI is an art! Be precise and think like a robot!
- The results from AI may be patchy or inaccurate, in particular when approaching a domain for which training data is not abundant!
- Prompt engineering will help you to get the most out of AI - by attaching specific legal documents which are relevant
- Bias can creep in with generative AI if there’s not enough generative data available
- It’s important to consider the concept of analytical maturity - for companies where the AI analytical maturity is higher there is a better success rate -
- AI investments should be seen as a business initiative not just IT
Vikrant emphasised that the whole firm must look toward the change. Ethical considerations are important too - jobs being done by paralegals and junior staff will change, for example.
Thanks to our session sponsors, Kangxin Partners.
Next steps
If you’re interested in finding out more about the work of F|CPI’s Practice Management Committee or becoming involved, visit: https://ficpi.org/organisation/committees/practice-management-committee
Join us at our 2025 World Congress in Naples, Italy.