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Lecorpio’s First Trademark Management Study Shows TM Portfolios Grew, but Few Budget Items Increased to Support Greater Workload
Fremont, Calif., May 18, 2016 — Lecorpio, the leader in cloud-based Intellectual Property (IP) management and analytics, today announced the results of its first Lecorpio Trademark Management Study which was recently conducted among the company’s corporate counsel clients. The Study aimed to benchmark growth in corporate trademark portfolios and to capture budget differences for watching, clearance, policing and reliance upon outside counsel.
Elisa Cooper, Vice President of Marketing at Lecorpio, commented, “The Lecorpio Trademark Management Study provided valuable insight as to what trademark counsel are facing, namely that trademark workloads are expanding but team size and budgets for trademark-related support services are not keeping pace with this growth and are mostly static. Interestingly, reliance on outside counsel for trademark matters did increase, which could be reflective of the need for in-house trademark counsel to do more with less.”
Highlights of the Lecorpio Study’s results include:
- 55% of respondents said their trademark portfolios had increased in size since last year. The remaining 45% respondents indicated that their portfolios had stayed roughly the same size, without decreasing.
- 45% of respondents reported that budgets for registering trademarks globally had gone up since last year, 55% had stayed the same, and 0% had gone down since last year.
- Budgets for trademark watching, clearance and abuse policing services had not increased to reflect larger trademark portfolios. Even though registrations had gone up in 45% of respondent companies:
- Only 27% of respondents reported increased spending for watching/clearance while 73% saw spending stay the same for these services.
- Only 18% reported an increase in their trademark abuse policing budget; 82% of respondents said their policing budget had stayed the same.
- While 91% of respondents indicated no change in the size of their internal team responsible for managing trademark portfolios, 9% reported a decrease in their internal team size. Cooper commented: “There seems to be a ‘disconnect’ since trademark portfolios are growing, yet the personnel needed to manage them is either static or decreasing - a clear example of corporate counsel’s requirement to ‘do more with less.’
- Use of outside counsel on trademark matters had either increased (27%) or stayed the same as last year (73%). Cooper noted, “It’s possible that reliance on outside counsel is growing because most in-house legal departments are not adding headcount to their own teams, and in some cases, they are losing people, so external law firms are perhaps picking up the slack.”
To request the 2016 Lecorpio Trademark Management Study findings, please contact email@example.com.
About Lecorpio, LLC
Lecorpio, the leader in IP management and analytics software solutions, helps innovative companies quickly turn ideas into assets. The company’s enterprise-class suite of applications spans the entire IP supply chain, including invention disclosure management, patent and trademark management, e-billing, licensing management and general matters management. The Lecorpio solution includes powerful workflow capabilities that easily configure to a company's business process and includes an IP dashboard with over 160 KPIs.
Primarily marketed to corporate law departments specializing in IP matters, Lecorpio’s adaptable IP management software-as-a-service creates one central repository for IP information. Lecorpio’s powerful solution simplifies data management processes for attorneys and paralegals through the entire IP lifecycle, from invention disclosure to patent management to billing, monetization and litigation. Also, Lecorpio helps clients to control costs by automating processes and increasing efficiency.
Lecorpio is used by 5 of the top 20 most active US patent filers, in addition to other well-known innovators such as Adobe, T-Mobile, Rockwell Automation, NEC, NetApp and Red Hat. Visit www.lecorpio.com for more information.
Learn more at www.lecorpio.com, or on Twitter @Lecorpio.
Christy Burke, Burke & Company