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The Patent Renewals Challenge: Balancing Risk and Cost
As economic recession forces companies to cut costs and grow revenue, there is an opportunity to reduce IP overhead without impacting risk. By intelligently abandoning non-essential patents and trademarks and increasing revenue from IP sales, businesses can strengthen their balance sheets and increase competitiveness. The complex process of pruning a patent portfolio and determining what to renew and what to abandon is equal parts art and science. However, successful players in the IP space have learned that their IAM decisions can be made more precise and better grounded in business objectives. Many companies are successfully incorporating systems to help organize their patent portfolios and manage the risks inherent in them.
Economic recessions force businesses to cut costs and identify new and efficient sources of revenue. Yet many companies will pass up millions of dollars of low-hanging fruit annually in the form of reduced patent annuities and increased revenue from sales of unused patents. Reinforcing this, the USPTO 2008 Annual Report states that “the renewal rates for (patent) maintenance fees have been
increasing modestly over the last four years and the trend indicates that this growth pattern will continue.”
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.