OptiSourcing - Optimization and Outsourcing of Intellectual Property

The crash of the captial markets and the failure of banks leading to a severe liquidity crunch may be remembered for several things. However, the one good thing that this 'recession' will be remembered for is the rapid adoption of best practices by corporations across the world.

This blog is about the evolution of the practice of intellectual property creation, management and exploitation due to the changes that corporations, law firm, and private practitioners are facing.

The two key themes that will impact IP management, both administrative and strategic, will be Optimization and Outsourcing. Optimization broadly covers practices and initiatives toward

• Rationalizing costs of IP creation and management
• Strengthing of patent portfolios by ensuring an alignment with business objectives
• Monetization of intellectual property including patents leading to a self sustaining IP department, and
• Emergence of patent portfolios as real weapons (for defensive and offensive purposes) in a corporate strategists arsenal

Outsourcing, especially offshore outsourcing, of administrative tasks and activities in the IP department of corporations is fast becoming a reality. Several multi-national corporations have tied up with providers of IP Support Services located in low cost locations such as India, Philipines and South Africa to address their needs related to:

• Patent and Trademark paralegal work
• Management of dockets related to patent prosecution, management, and litigation
• Proofreading of patents
• Illustrations within patent applications
• Billing Management and management of payments to outside counsel

This blog will cover strategies to achieve OptiSourcing, examples of successful "OptiSourcers", common pitfalls and best practices. Reader feedback and sharing of their experiences is also welcome.