Fifty-Nine Percent of Chief IP Officers Say America Invents Act Has Changed In-House Approach to Patent Process, According to New Consero Survey

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Fifty-Nine Percent of Chief IP Officers Say America Invents Act Has Changed In-House Approach to Patent Process, According to New Consero Survey

BETHESDA, MD – (February 7, 2014) – Fifty-nine percent of Fortune 1000 Chief IP Officers in the Pharmaceuticals, Biotechnology, and Medical Device Industries say the America Invents Act has changed their in-house approach to the patent process, according to a new survey by Consero Group, an international leader in creating high-level, invitation-only events for senior executives. The results were reported as part of the 2013 Survey Report for Chief IP Officers In The Pharmaceuticals, Biotechnology And Medical Device Industries, compiled by Consero Group.

The Leahy–Smith America Invents Act, which is the federal statute passed by Congress that was signed into law by President Barak Obama in September 2011, went into effect in March 2013.  Named for lead sponsors, Sen. Patrick Leahy of Vermont and Rep. Lamar Smith of Texas, the law represents the most significant change to the U.S. patent system since 1952, switching the U.S. patent system from a “first to invent” system to a “first to file” system, among other changes.

“None of this year’s changes for Chief IP Counsel in the pharmaceutical, biotechnology, and medical device industries has been more pivotal than the America Invents Act, which introduced the most significant modifications to the U.S. patent system in over 50 years,” said Paul Mandell, Founder & CEO of Consero. “Our survey shows the strong impact of the Act’s key provisions, which took effect earlier this year, upon the in-house approach to the patent process in these industries.”

Other findings included:

  • Most R&D Performed In House:  A vast majority (88%) of survey participants reported that R&D is mostly performed in house.
  • Pursuit of M&A Opportunities to Enhance R&D:  A majority (55%) said they are pursuing M&A opportunities to enhance their research and development pipeline.
  • Metrics Not Used to Assess IP’s Value:  Just a small percentage of the participants (16%) use metrics to assess the value created by the company’s IP, and most survey participants (62%) do not believe that metrics provide a useful and accurate measure of the value of IP to the business.

The 2013 Survey Report for Chief IP Officers In The Pharmaceuticals, Biotechnology And Medical Device Industries included 10 questions that were posed in connection with the invitation-only 2013 IP Forum for Pharmaceuticals, Biotechnology & Medical Devices, which took place in December 2013. A total of 49 responses were provided.

About Consero

Founded in 2010, Consero Group is an international leader in creating industry-specific events for senior-level executives in industries that include: Legal, Compliance, Shared Services, Customer Experience, Finance, IT, HR, Procurement, among others. With operations in the U.S. and in Europe, Consero is best known for transforming the executive experience through intimate, invitation-only programs in a sophisticated learning environment with high-level content. For more information on Consero, please visit www.consero.com.