How do You help Companies Monetize Their IP Assets?
Intellectual property has long been a key practice area, and it's importance is continuing to grow. Many IP attorneys, however, focus on protecting IP assets, whether through IP registration or IP enforcement. Yet one of the key ways intellectual property attorneys can help their clients--and thereby help build their own client base and advance their own legal careers--is by helping companies make money from those IP assets.
In "Show me the money: Universities, startups and established businesses alike strive to monetize their IP assets," Rich Steeves, a senior editor at InsideCounsel talks to Tyler Maddry, partner at Hunton & Williams, and Julie Watson, special counsel at Marshall, Gerstein & Borun, about the ways in which IP licensing can turn attorneys from cost-centers into revenue-generators for their clients.
If you're a lawyer who can help make money, then show it -- in your LinkedIn profile, legal resume, and other career portfolio documents. And be prepared to back it up in a job interview. Demonstrating how you help make money is also critical for salary negotiation, internal advancement, raises, and bonuses. If you're not yet on the revenue-generating side of IP, then seek out opportunities that will give you that in-demand skill.