This article has been written by Oishika Banerji of Amity Law School, Kolkata. This article provides necessary information about big global trends that are creating massive opportunities in IP law practice today. 

Introduction 

The beginning of 2021 is unquestionably a unique time. We’re still in the middle of an outbreak, and several countries are still on alert. The introduction of vaccines around the world is on the horizon, and the global economy remains strong despite trade challenges. In 2021, staying on top of fast-changing intellectual property enforcement and brand protection environment will necessitate increased concentration and, in many cases, activity reorganization. In 2021, the changing legal environment is projected to continue, notably in the intellectual property sector, as a wider spectrum of changes arises as a result of the rapid advancement of digital technology. And if there’s one thing we know for sure, it’s that the outbreak hasn’t put a stop to global intellectual property activity. We need to find a way ahead, this necessitates the development of new concepts as well as knowledge of current technology trends.

The pandemic and IP 

  1. Coronavirus is unquestionably harming economies all around the world. Because no one knows how long the scenario will last, businesses are scrambling to get their hands on something useful that will enable them to shine in the current situation. Medical, entertainment, internet gaming, video conferencing, social media, and other industries are currently booming. As a result, there appears to be a shift toward adopting solutions from these businesses. Thus, there may be an increase in the likelihood of infringement allegations and therefore IP protection is critical.
  2. Companies are embracing cross-industry solutions in order to concentrate on making their product or platform stand out. There may be a mindset that IP owners will not pay attention in this pandemic condition, and as a result, they will hurry to launch their product or feature. This could result in a large number of IP lawsuits. For example, a PGIMER doctor recently accused Mahindra & Mahindra of stealing a low-cost ventilator technology. This reinforces the importance of IP protection once further. This creates huge opportunities for IP litigators as they will get several clients who have been affected by their decision-making in this pandemic scenario. 
  3. Patent attorneys have a key role to play in these unpredictable circumstances. With different companies coming with different immunization mechanisms for the world as a whole, patents help them succeed in the world of competitive global brands. 

Science and technology 

  1. With the rise in technological development, IP rights have seen a rough time as they have been often subjected to infringement, cybersquatting, cyber hacking, unauthorized copying, etc. The creation of confidential information agreements, licence agreements, assignment agreements, and franchise agreements are all examples of agreements in Intellectual Property law (to name a few) that have been possible solutions to these threats. As a result, an ambitious IP lawyer should be familiar with issues of intellectual property and related agreements, as this offers up a wealth of business prospects as well as opportunities in IP law practice in today’s time. 
  2. Artificial intelligence (AI) will improve IP practices over the next decade by analyzing the value of IPRs, evaluating patent prosecution effectiveness using algorithms, enhancing predictability, and lowering costs for IPR owners. Algorithms can also be “taught” to analyze and manage IP portfolios, reducing costs and eliminating errors. This is especially true in the domain of patent prosecution and filing, which has historically been more expensive.
  3. One of the most important advantages of a career in IP law is the opportunity to learn about exciting new breakthroughs in science, technology, and other fields. Intellectual property work can be a particularly intriguing discipline and career to pursue for persons with inquiring minds. Demand for IP rights continues to climb as IP becomes increasingly vital to the knowledge economy, and this trend is expected to continue. In 2015, for example, 2.9 million patent applications, 6 million trademark applications, and 870,000 design applications were all filed. These are staggering figures. IP offices face significant difficulty in managing this expanding demand. However, when new IT solutions become available, new ways to better manage this demand and administrative IP operations, in general, will become available.
  4. Practitioners should develop strategies for expanding their portfolios and converting IP management from a defensive mechanism to a profit-generating one. To provide the greatest level of service, practitioners will have to take on a dual role of providing legal advice as well as portfolio management services. The internet has made this more challenging, as non-attorney services provide a less expensive do-it-yourself option. These services will compel legal firms to develop if they are not curtailed, as non-attorney services continue to grow.

For more information refer to this link: https://blog.ipleaders.in/career-opportunities-technology-lawyers/.

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The evolving fashion industry 

  1. Fashion law, being a new field of practice, is both difficult and unique. It covers a wide range of legal topics, yet it is entirely focused on a certain group of people. Fashion lawyers work on a variety of issues, including intellectual property (marks, trademarks, designs, and copyright) as well as arbitration, labor law, and distribution arbitration. Some stores and brands have their own legal departments, while others outsource to law companies.
  2. A good fashion lawyer must have professional knowledge of fashion since fashion is more than just understanding how to hold a garment. A fashion lawyer is required to know everything there is to know about a clothing brand, from its conception through its launch in the industry or market. “A skilled fashion lawyer must be able to talk about fashion while also walking the walk on any subtle issues that may emerge,” says Simon Bennett, a fashion partner at Fox Williams LLP. To make the most ‘cost-effective’ judgments for their client, the lawyer must have legal understanding and a deep interest in the field.
  3. Fashion law is gaining popularity these days, as there are numerous examples of design infringement, as a result of which stolen goods can be found on the global market. Whenever feasible, look for jobs in the fashion design industry. Working in the fashion industry, even if it isn’t legally legal, can help strengthen an application to become a fashion lawyer later on. Fashion law is a relatively new legal field with numerous options for law students and professionals interested in the field. For lawyers, venturing into the world of fashion and applying their legal knowledge is a new experience. 

For more information refer to this link: https://blog.ipleaders.in/ways-to-earn-money-being-a-fashion-lawyer/.

The growing food industry

  1. If “cooking is an art,” then IPR protection is required to safeguard it. IPR in the food sector includes everything from the ingredients and recipes to the product’s advertising and branding. Patents, trademarks, copyrights, trade secrets, and design rights are all IPRs that apply to the food sector. The role of an IP attorney, a patent attorney (to be specific) is immense in this industry as new culinary skills are evolving on an everyday basis as people are more observant of the dish being served to them. 
  2. Usage of liquid nitrogen, vapor, Sodium alginate, powders, scents while presenting and preparing a dish have helped in bringing in familiarity with the concept of molecular gastronomy with the consumers, food experts, vloggers. Chefs are now seeking intellectual property protection for their inventions as a result of molecular gastronomy’s introduction of new techniques to an otherwise very tradition-bound sector. Chefs are increasingly seeking intellectual protection for their molecular-based recipes, but they have only been granted utility patents for culinary techniques, not for specific dishes. Therefore there exist massive opportunities for IP lawyers to get hold of IP infringement cases and advise clients who are facing issues in the same. 
  3. When a bartender creates a cocktail in a bar and then leaves, can he ask the bar’s administration to remove his unique beverage from the menu? The answer to this question is no. It cannot be removed from that bar’s menu unless and until the bartender has signed a written agreement to that effect. The default view is that if a bartender creates a cocktail while being employed by a certain bar, that bar retains ownership of the cocktail because it was created while employed by that bar. Thus the role of IPR and infringement cases are immense in cocktails as well.  An IP practitioner cannot ignore the opportunities this has to offer to him. 

Conclusion 

IP lawyers will always be needed to assist in obtaining the rights to fresh ideas and protecting the ownership of existing creations as long as invention and innovation exist. Because people’s imaginations never truly end, an intellectual property lawyer’s profession takes precedence. In order to know more about this topic refer to these links: 

  1. https://lawsikho.com/blog/what-are-the-big-global-trends-that-are-creating-massive-opportunities-in-ip-law-practice-today/
  2. https://lawsikho.com/blog/massive-global-trends-that-are-shaping-ip-law-practice-and-creating-unprecedented-opportunities/

References

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