26 January 2017Africa

IP strategy chief focus for life sciences counsel, says report

Global intellectual property strategy will be the chief area of focus for IP counsel in the life sciences arena in 2017.

This is the finding of a survey outlined in " Life Sciences IP Report”, compiled by Consero Group in partnership with law firm Sterne Kessler Goldstein & Fox.

Almost 50% of IP counsel named global IP strategy as their top area of focus, with another 27% naming research and development.

Paul Mandell, CEO and founder of Consero Group, which provides events for senior-level executives, said: “The report shows that IP leaders in the life sciences industry are focused on setting global strategy while continuing to invest in research and development to grow their company’s IP portfolio.”

He added: “We expect the role of chief IP counsel to continue to evolve in delivering a positive impact to the business.”

Other findings of the survey, which was published on Monday, January 23, are that 32% of respondents believe that patents will have more value in the coming years, and up to 80% are satisfied with the value provided by their outside counsel in relation to cost.

John Sterling from Sterne Kessler, said: “This report sheds light on the key areas of focus for the life sciences industry and highlights the growing influence of chief IP counsel within their companies.”

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