The challenges faced by women and minorities in a legal career are magnified in the Patent sector. With low numbers of female and minority in Chief IP Counsel and leadership roles, and a limited pipeline of women and minorities coming into IP – this trend is set to continue. Patent law also brings into play the cultural biases around women and minorities going into the STEM fields. What are the steps to increased diversity in Patent Law?
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Sponsored by: McNees Wallace & Nurick LLC.
Panelists entering IP practice in different decades discuss the differences in their experiences and what can be learned to continue to improve the diversity of practitioners in IP practice in the future.
Since intellectual property is one of the least diverse sectors of the legal profession--in an increasingly global marketplace--it's time to make a concerted effort to rectify this. In addition, we are already seeing a demographic shift as baby boomers retire and females make up 65% of in-house counsel. This provides an opportunity for law firms and in-house counsel to lead the charge through strategic alliances. For example, in-house counsel can leverage its relationships with law firms to encourage an accelerated move towards diversity inclusion and Equity. Law firms can guide and mentor junior attorneys on promotion and advocacy practices that they have used to propel their own careers.
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To create a rewarding legal career, one must seek out challenging and visible professional opportunities: getting on the right case, satisfying the important client, winning the big settlement. For women and minorities, however, finding these opportunities often isn’t enough; effective sponsors and influencers are needed to help seize them.
Behind closed doors, who is vouching for you and pushing your name forward for the opportunities you want? What can you do to strategically foster sponsors and influencers?
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Effective patent portfolio management ensures a return on investment in the long-run, and it is also key in excluding competitors from key markets. However, economic challenges continue to place pressure on IP budgets. Many patent portfolios are currently being restructured. How can patent owners prepare for heightened cost management? How will this impact IP Strategies? How will already budget conscious filings impact spending on maintenance fees? A well run portfolio gives the business the ability to protect market share, block competitors and create future opportunities.
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The lack of women coming through the pipeline Women in STEM is creating a lack of diversity, when diversity can solve challenges in all areas of development.
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The environment for Patent Litigation is changing. Plaintiffs are more savvy, battle tested and adept at filing patent litigation, including using international forums. Companies are increasingly filing, selling, acquiring and monetizing patents. The landscape is in flux and seems to be getting more complex. As institution rates decline, IPR use is less automatic. At the same time, NPE litigation in the U.S. is decreasing, while operating company litigation is slightly increasing.
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