Law firms that have been hit by reduced client spending on intellectual property protection are turning to client education to bolster their businesses.
The trend was identified by a survey commissioned by CPA Global, a legal process outsourcing provider. The survey represents the views of more than 200 IP professionals around the world, of whom 49.7% were from law firms and 50.3% were from corporations. Most respondents were from the UK (36%), North America (28%), and continental Europe (23%).
The State of the IP Industry Survey, 2009, paints a picture of tighter corporate IP budgets, reduced volumes of IP work for law firms, and severe pressure on IP resources, both in legal departments and law firms. The economic downturn is largely to blame, with 51.9% of corporate respondents saying the credit crunch is having a detrimental effect on their IP strategies.
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