|For an intellectual property law firm failure is not an option. A single mistake can bankrupt a firm and lead to hundreds of millions, or billions of dollars, lost. The magnitude of what is at stake often leads IP firms to be conservative with respect to management and adoption of new technologies and procedures.
Nevertheless, in 2020 the big data revolution is upon us, with some estimating that at the beginning of 2020 some 44 zettabytes of data in existence worldwide – or said another way 44 billion Terabytes of data. Artificial intelligence and machine learning systems are an absolute necessity if one is going to have any hope of gaining insights into this tsunami of data.
But how quickly can you push change in an IP law firm, which is conservative in its management philosophy and use of systems by nature? Without comprehensive systems in place, how can any meaningful benchmarking be done other than high-level counting of applications and allowances without consideration of quality and complexity? With the avalanche of data comes a multiplicity of communication protocols and platforms and requirements; do clients really expect law firms to eschew a common platform and adopt dozens of individual, often proprietary communications platforms?
The big data revolution creates opportunities and issues for the management of IP law firm processes and procedures, and for the relationships between firm and corporate client. Join Gene Quinn, President, Founder & CEO of IPWatchdog, Inc. and one of the top IP strategists in the world, along with Nadine Stuttle, Managing Director of Legal Management for Duff & Phelps, Josh Glover, Chief Information Officer for Smart & Biggar, and Joseph Bichanich, Client Director of IP Law Firms for Anaqua, for an in-depth discussion about these issues.