Why every lawyer needs to know something about Intellectual Property Law?

Heard about the lawyer who has a cousin who is a singer and became successful? And about that lawyer whose friend who invented a ship navigation device and made millions? Or that lawyer who is a drummer and went all the way to have his own cover band? Or the one who heads a law firm and plays guitar? You see the point that is being made here, don’t you? Lawyers are surrounded by creative and innovative people. Lawyers themselves are flock in creativity. And creativity spurs the modern economy.

The Hollywood movie industry employs around 4,00,000 people, the United states receives around 200,000 trademark applications per year. Did you know Intellectual property has influenced the growth of the Japanese economy after the slump in the 1980s? Not only that, the IT industry and the FMCG industry does not thrive well unless Intellectual property protection and management is effective; Intellectual property is everywhere. Being a lawyer in an age of technology enhanced business, trade and communication cannot avoid Intellectual property issues and nuances.

Since Intellectual property as a field of law is vast and deep, vast and frequent are employment opportunities and recruitment. The number of active patent attorneys and agents in the United States alone is 40, 000. The figures are, of course, on the rise.

In the current economic season the valuation of companies and other business organisations also include the value of Intellectual property held in the organization’s ownership. So, the wealth makers as compared to earlier times are not steel or traditional industry tycoons, but media and technology tycoons.

Lawyers Must Be Trained In Intellectual Property

Considering the enormity of the field of intellectual property law and the various opportunities that are present across different sectors which exploit intellectual property and also because of the fact that IP rights are central to the modern economy, lawyers must be trained enough to handle intellectual property issues. The law school education that lawyers receive is insufficient for effectual intellectual property law practice. Apart from this, the following reasons are addition to why lawyer’s must be trained for effective intellectual law practice:

#1 IP Law practice is highly practical

Unlike normal law practice IP law practice does not involve writing and appraisal of legal principles and theories. The nuances and skills of IP law practice involve practical skills like drafting, management and review. The procedures involved are complex and intricate. Unless a lawyer is specially trained, he/she will not be able to deliver effectively.

#2 IP Law practice is intertwined with other disciplines

Unlike other areas of law, IP Law Practice is entangled with other areas of study such as IT, Telecommunication, Physical Sciences, Arts & Design, and Pharmacy etc. This requires lawyers to be familiar with terms specific to the area of technical expertise though lawyers need not be well versed with the discipline.

#3 IP Law practice involves complex processes

Apart from legal drafting and writing skills and court craft IP Law practice requires lawyers to possess skills that are alien to the legal profession since such as management and valuation. It also includes maintaining databases and documents. Lawyers are expected to handle technical documents and blueprints. That is also the reason why certain jurisdictions require patent attorneys and agents be qualified in a scientific or technical discipline.

#4 IP Law practice is wide and robust with opportunities, but there are no good professionals

Though industries which employ the use of intellectual property are various and enormous, there is a lack of good IP lawyers. To illustrate, about only one-fourth of the total candidates who sit for a patent attorney exam pass successfully in jurisdictions like the EU and the Unites States. Most lawyers who are employed in intellectual property law practice are lawyers who have finished only graduate or post graduate degrees without specialized training. Most law school graduates rely on internship programmes that they had attended or on experiences with minimal stress on practical aspects.

Thus, it is alarmingly evident that most lawyers are not equipped to face the requirements of a vast and demanding area of law practice.

Understanding this importance and to facilitate Learning Intellectual Property law along with your practice online intellectual property law course are a good option. The Certified Intellectual Property Law Analyst (CIPLA) Course is a programme designed to equip professionals on IP laws. The programme has been developed by experts in the  field and incorporates an international and comparative law syllabus in order to cater to the  increase in transnational business ventures.

Click here to know more about the course