Whether your firm is actively prospecting new business or hoping to strengthen relationships with current clients, patent analytics is a necessary addition to your business development plans.

How can you improve your patent practice? What changes can you make that will have the greatest impact on your current business strategy? The answer can likely be found with AI-powered legal tech. 

Intellectual property is the foundation for building a significant competitive advantage for businesses of any size. Companies need to keep a constant eye out for new competitors and advantageous legal partnerships to stay ahead.

Firms with a solid grasp on landscape analysis and competitive intelligence become indispensable to their clients and difficult to beat when vying for new business.

There are many ways to evaluate the value of your outside counsel, whether using general success metrics or quality indicators like timeliness and ease of communication. But perhaps the most valuable indicator may be the average cost of an issued patent prosecuted by the firm.

Whether you are a part of a corporate IP team or at a law firm, creating a standardized, data-driven approach to analyze prosecution performance is imperative to your success.

The age of big data is here to stay, and there is so much information out there to access, sift through, and organize to accomplish our goals. As a company evaluating your legal partnerships, how do you know which metrics provide the most insight?

In early June, AstraZeneca approached rival drugmaker Gilead Sciences to discuss a potential merger. Though some doubt the feasibility of such a deal, this would be the biggest healthcare merger on record.

With budgets tightening and department priorities shifting, now is the time for companies to evaluate outside legal counsel.

As businesses feel the lingering stress from the COVID-19 pandemic, some are considering bringing patent prosecution in-house in order to cut costs. With clients continuing to mind their budgets, how can firms demonstrate the cost savings and ROI they bring to the table?