Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Everyone knows that lawyers cost money. Usually, in fact, they cost a whole lot of money. That’s the reason that corporate law departments, for example, are typically regarded as cost centers rather than revenue producers. In-house lawyers who focus their work on, say, real estate transactions or employment disputes obviously play a vital role in the business affairs of their companies. But they don’t tend to generate much in the way of bottom-line revenues for their employers. When it comes to intellectual property, however, many companies have long known that thar’s gold in them there assets. Maximizing the value of those assets, on the other hand, is often easier said than done. Do lawyers help or hinder in that effort? Traditionally, the management and oversight of a company’s IP portfolio has rested within the corporate law department, with assistance, of course, from outside counsel. But over at Hewlett-Packard, the Silicon Valley-based computer and technology company, tradition has given way to unabashed entrepreneurship when it comes to mining the company’s substantial IP assets. As you’ll read in one of our feature articles in this issue, “Who Needs the Lawyers?”, the company not long ago set up a new business unit, separate from corporate legal, that is devoted to licensing and other revenue-creating activities that stem from its IP collection. “Maximize profit from an IP portfolio?” says David Klein, a technology transactions expert at Shearman & Sterling. “That’s not really a lawyer’s expertise.” To be sure, lawyers will not be cut out of the loop entirely, whether at HP or anywhere else. In fact, another one of our articles in this issue reports that in-house hiring of IP attorneys is showing some signs of an uptick, fueled in large part by the awareness that licensing deals are often the key to more robust bottom lines. Whether some of those lawyers will eventually be replaced by their MBA counterparts, meanwhile, remains to be seen. Either way, the care and feeding of intellectual property — patents, trademarks, copyrights — will continue to command the attention of corporate officials, whether they reside inside the law department or in other cubicles and corner offices. Corporate America isn’t the only place where IP rights are jealously guarded. In this issue’s “In the News” department, you’ll read about a three-person IP unit within the Los Angeles city attorney’s office that is devoted to protecting — and profiting from — the city’s own collection of IP assets. What else would you expect when the city attorney himself is a former IP practitioner who knows his own way around a trademark negotiation? Steven Pressman Editor

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.