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Law departments of many companies face increasing demands for IP services

The appreciation executive managers have that patents can generate business-enhancing value was brought home in a presentation at Consero’s conference last month. Keith Chanroo, Chief IP Counsel at TSMC, spoke about what he calls the new paradigm for intellectual property. One of his slides offers this provocative projection: “Commercialization (monetization) of IP assets can enhance revenues and profitability (estimated @ minimum of 2-4% revenue/2-5% profitability per annum).”

Increasingly, the potential gusher of value like that will bring more responsibility on the law department and its patent lawyers, staff, and service providers. It summons up images of law departments as cash registers.