Lawyers spend their clients’ money – no surprises there. But some intellectual property (IP) lawyers seek instead to make money for their clients by increasing their clients’ profits or market shares. They specialise in developing strategic plans for their clients’ IP and guiding them through the plan’s implementation. Known in the US as IP ‘counselling’, it is an accepted practice area, but in Europe it remains controversial whether lawyers should give what is perceived to be business – and not legal – advice.
The 2004 European Intellectual Property Survey, conducted by market researchers TNS, reported that only 52% of large European businesses had a documented IP strategic plan; an “alarming” statistic according to the Financial Times. Ian Harvey, former chief executive officer of BTG and chairman of the UK Government’s IP advisory committee, in his foreword to the report, strongly stressed the need for such planning and recommended that boards should be actively involved in the planning process. He said: “Companies that do IP planning well are usually the global leaders in their fields. Getting the IP message is not a guarantee of success. But failing to start down the road of using IP corporate strategy is to miss a major opportunity for growth, profitability and, indeed, survival.”
