What is the future of Intellectual Property Law?

In a recent episode of Entrepreneurship Answered (link below), an IP Attorney asks Gary Vanderchuck about the future of Intellectual Property Law.

I think his response is spot on. In today’s fast paced business environment, creators and innovators have access to capital and tools that previously were not available 10 years ago. They no longer need to work for Intel or IBM to work on projects. They can create something in their garage and get funding through crowdsourcing or investors. Then they can quickly go to market and get visibility via social media.

The IP attorneys that can counsel these types of individuals have an opportunity to really themselves apart. It doesn’t make sense for the big firm IP attorneys to take the time to help small companies and start-ups with limited resources. If the smaller firm IP attorneys want to help these blossoming businesses, there will be no end to the amount of work they will have.

Now, on the investigation side, we are seeing that brand owners, inventors and those that want to file for trademarks are smaller companies and entrepreneurs. They are looking for business advice along with a tutorial on IP rules and laws. They have an idea for a product or service and want to go to market.

What these people are interested in is protecting their new ideas from others. It becomes even more crucial for investigators to perform due diligence on finding the actual date of first use, not just the one listed on the USPTO website.

Basically, this boom of entrepreneurs will be a win-win for investigators, attorneys, and the entrepreneurs themselves in the long run.

If you want to know the legal speak behind trademark law and infringement, this video by Peter McDermott is an excellent guide.