Posts Tagged: "IP Firms"

Will Australia’s Listed Firms Save the IP Profession from Stagnation?

My fellow Australian patent attorney Andy Mukherji recently asked the question on this site: Are Australia’s listed IP firms doomed to fail? Doubtless the hyperbole was intentional, but Andy raises a fair point. The Australian IP professions – registered patent and trade marks attorneys (who, for the most part, would be recognized as patent agents rather than attorneys in the US) and IP lawyers – are currently engaged in what might well be regarded as a brave and daring experiment. Prior to 15 April 2013 the regulatory regime in Australia did not even permit patent attorneys to incorporate. Now, less than four years later, not only have many firms chosen to take up the option of incorporation, but Australia now has (to the best of my knowledge) the largest number of publicly-listed IP firms per capita in the world!

Who’s Winning: Big Law Moving into IP Practice or IP Boutiques Holding Their Own?

As the dearly departed Prince once sang, it could be a sign of the times. Only in this case the reference is about big law firms moving into the intellectual property (IP) space, including acquiring IP boutiques. For example, Polsinelli acquired the Novak Druce IP practice in early 2016. However, when big law firms acquire IP boutiques it does not always—or even usually—work. Because if a big firm acquires a patent prosecution-based boutique it may not make sense because billable hours and rates for patent prosecutors do not compare with those of litigators. It also creates internal conflicts of interest. But the situation could have changed. This time the acquisitions might work because in many respects IP boutiques focus on administrative trial work at the USPTO due to the America Invents Act (AIA), which is more like litigation, and will not create the same conflicts of interest. But not everyone has the same opinion.

Are Australia’s listed IP firms doomed to fail?

Over the last two years, the Australian patent and trade mark attorney profession has seen a number of significant changes. The 2013 amendments to the Patents Act 1990, meant that Australian patent and trade mark attorney firms could incorporate. This led to the consolidation of some of Australia’s biggest patent and trade mark attorney firms. These consolidated firms have subsequently listed on the Australian Stock Exchange to raise capital and have since been on an aggressive acquisition spree to achieve market dominance… In short, there are inherent conflicts of interest when an individual or entity is obliged to act for both clients and shareholders.