“Managing Today’s Fast-Paced IP Department”September 16, 2021
In an article for the ACC Docket, partner Jonathan Hughley joined Idris McKelvey, vice president and patent council for The Estée Lauder Companies, Inc., to share their thoughts on how managing IP in-house is changing. They note the dynamics of in-house IP practice are rapidly evolving and, while the demands have never been greater, endless opportunities may also exist. Jonathan and Idris McKelvey write, “Recognizing and anticipating those opportunities are, and will continue to be, critical in establishing and maintaining a healthy IP portfolio.”
Their article further explores how in-house legal departments must begin to anticipate market opportunities. For example, making investments in R&D or acquisition of patents that may not necessarily pay off in the short term but could provide value in the later stages of the duration of the patent. Jonathan and Idris further emphasize the importance of data analytics to objectively see the value in every patent in a portfolio. They write, “All lawyers, in whatever area they practice, must embrace technology as a core competency,” and offer examples of the benefits of these technologies from optimizing workflows and automating tasks to standardizing processes and creating alerts for certain events to ensure key stakeholders are notified.
To read more of Jonathan and Idris' insights, please read the full article "Managing Today's Fast-Paced IP Department" on the ACC Docket's website.