Clarivate Plc, a global leader in providing transformative intelligence, has recently unveiled a comprehensive report shedding light on the trends and challenges in Intellectual Property (IP) operations. The report, titled Excellence in IP Operations, is based on a global survey that delves into the strategies and benchmarks used to enhance IP practices. Through this survey, experts have identified key insights and best practices that can help organizations elevate their IP operations to achieve excellence.
Annya Dushine, Senior Director of IP Consulting at Clarivate, emphasized the significance of understanding the current landscape of the IP industry. She stated, “The world of IP has undergone significant changes in recent years. By analyzing the results of this survey and combining them with our extensive knowledge of IP operations, we aim to provide valuable insights into the trends and challenges faced by organizations and law firms in the realm of IP operations.”
One of the key findings of the report is the importance of aligning key performance indicators (KPIs) with business goals. The survey revealed that organizations with well-established and clearly communicated KPIs tend to have stronger alignment between their IP and overall business strategies. In fact, 65% of corporate respondents who were knowledgeable about their department’s KPIs reported alignment between IP and business strategies, while this figure rose to 70% for law firm respondents.
Furthermore, the report highlights the crucial role of process management in enabling success within IP operations. Organizations that effectively manage their operational processes not only demonstrate greater strategic alignment but also make more efficient use of their staff. It is essential to strike a balance between expanding staff members’ responsibilities to diversify their skills and ensuring that this expansion does not compromise work quality and productivity.
Another significant insight from the report is the growing interest in artificial intelligence (AI) technology within the IP industry. While awareness and interest in AI, particularly for complex IP workflows, are on the rise, the deployment of AI remains relatively low. The report indicates that organizations lagging behind in AI adoption experience greater inefficiencies, with 83% of respondents who spent over half their time on tasks unrelated to their primary role not currently utilizing AI in their IP department.
Moreover, technology enablement plays a crucial role in enhancing efficiency within IP operations. The satisfaction levels with the technological setup are closely linked to well-defined roles and integrated IP workflows. Respondents who reported low satisfaction with their technology setup spent a significant amount of time on tasks outside their primary role, whereas those who felt well-equipped with the right technology spent less time on unrelated tasks.
In light of constrained resources, IP teams are encouraged to explore novel approaches to optimize their daily tasks effectively. When operating under tight budgets, leveraging AI-based features and functionalities within existing software can help enhance productivity and efficiency within IP operations.
Vasheharan Kanesarajah, Vice President and Head of Strategy for Intellectual Property at Clarivate, emphasized the challenges faced by IP professionals in balancing strategy and tactics amidst a rapidly evolving landscape. He highlighted the importance of leveraging data, expertise, and technology to transform operations and unlock the full potential of IP.
The methodology employed for the report involved a comprehensive survey that gathered insights from 184 IP professionals from corporations and law firms across 50 countries. The survey, conducted over a 10-week period, aimed to establish baseline benchmarks for measuring excellence in IP operations. Key aspects such as KPIs, staffing, training, technology, and artificial intelligence were evaluated to provide a holistic view of the current state of IP operations.
Overall, the report by Clarivate serves as a valuable resource for organizations and law firms looking to enhance their IP operations and achieve excellence in the ever-evolving landscape of intellectual property. By leveraging the insights and best practices outlined in the report, stakeholders can develop effective strategies to navigate the challenges and capitalize on the opportunities within the IP industry.