IPFrontline: Chief IP Counsel do not believe metrics provide useful measure of IP business value

Originally Published in IP Frontline | February 10, 2016

Reported as part of the Global IP Data Survey for Pharmaceuticals & Biotechnology, compiled by Consero Group, these results will be revealed and discussed at Consero’s upcoming IP Forum for Pharmaceuticals & Biotechnology, taking place 14-16 March in Noordwijk, Netherlands

Nearly three-quarters (73%) of Chief IP Counsel do not believe metrics provide a useful and accurate measure of the value of IP to the business, according to a new survey by Consero Group, an international leader in creating high-level, invitation-only events for senior executives. Reported as part of the Global IP Data Survey for Pharmaceuticals & Biotechnology, compiled by Consero Group, these results will be revealed and discussed at Consero’s upcoming IP Forum for Pharmaceuticals & Biotechnology, taking place 14-16 March in Noordwijk, Netherlands.

“At a time when companies are increasingly adopting metrics to measure ROI, it is interesting that metrics are not a widely used means to measure perceived value of the IP function in life sciences,” said Paul Mandell, Founder & CEO of Consero Group. “As most Chief IP Counsel do not believe metrics accurately measure the value of their department’s work, it seems unlikely that there will be change in the year to come on this front.”

“These new findings will be released at the IP Forum for Pharmaceuticals & Biotechnology, along with other key survey results from Chief IP Counsel,” said Jessica Druckman, Founder & SVP of Program Development at Consero. “During the event, we will explore top-of-mind subjects, including what data to use to identify the most qualified outside counsel for IP litigation and best practices in advising your prosecution team to ensure the most defensible patents.”

Additional findings from the Global IP Data Survey for Pharmaceuticals & Biotechnology included:

  • Most Chief IP Counsel Involved in M&A Efforts: Sixty-seven percent of respondents reported they are either very involved or involved in the M&A efforts of their organization.
  • Most R&D Within Pharma & Biotech Performed In House: A large majority (79%) of executives said their company performs most R&D in house, rather than outsource R&D.
  • IP Function Viewed as Strategic Partner Within Life Sciences: Ninety-one percent of those surveyed believed that their IP function is viewed as a strategic partner of the business.

Consero’s IP Forum for Pharmaceuticals & Biotechnology will take place 14-16 March at the Hotel van Oranje in Noordwijk, Netherlands. The Forum will address current legal and business challenges faced by today’s Chief IP and Chief Patent Counsel, providing a unique opportunity to share best practices and strategies that will help lead their departments and companies in the right direction.

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