Sharing benchmarks and strategies to elevate IP
practices
LONDON, Sept. 24,
2024 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT),
a leading global provider of transformative intelligence, today
released a new survey-based report that reveals insights and best
practices for optimizing intellectual property (IP) operations. In
the Excellence in IP Operations report, experts highlight
challenges and opportunities facing IP operations departments
through the lens of strategy alignment, resource allocation,
technology enablement and artificial intelligence (AI)
adoption.
The report is based on a global survey which took place over 10
weeks. 184 IP professionals from corporations and law firms,
including both clients and non-clients of Clarivate, responded to
the survey. From these responses, Clarivate experts analyzed
results to unveil key insights and benchmarks, helping IP
departments understand ways to achieve operational excellence.
Annya Dushine, Senior Director, IP Consulting, Clarivate, said,
"The world of IP experienced a seismic shift over the last
half-decade. This survey gives us fundamental insights into what
the industry is experiencing today. By combining these results with
our extensive knowledge of IP operations, we can shed light on
trends and challenges in IP operations and help organizations and
law firms build effective strategies to achieve IP operations
excellence."
Key findings of the report include:
- Highly rated IP operations teams align KPIs to business
goals: Established and well-communicated key performance
indicators (KPIs) and success metrics correlate to strong alignment
between IP and business strategies. 65% of corporate respondents
who knew and understood their department's KPIs also indicated that
their IP and overall business strategies were aligned. This figure
rises to 70% for law firm respondents.
- Process management is a key enabler for success:
Organizations with well-managed operational processes not only show
greater strategic alignment but also more efficient use of staff.
While expanding a staff member's remit can lead to more diversified
skills, it may also negatively impact work quality and
productivity. Getting the balance right is critical for maintaining
employee satisfaction and supporting growth.
- Closing the AI adoption gap leads to excellence:
Interest and awareness in AI technology is increasing,
particularly around complex IP workflows; yet deployment remains
low. For both corporations and law firms, IP teams who were behind
the curve on AI deployment experienced greater inefficiencies. 83%
of respondents who spent over half their time on tasks unrelated to
their primary role were not currently using AI in their IP
department.
- Technology enablement encourages efficiency:
Satisfaction with technological setup is closely linked to
well-defined roles and clearly integrated IP workflows. 64% of
respondents who reported very low satisfaction with their
technology setup also spent more than 50% of their time on tasks
outside their primary role. In contrast, respondents who felt
well-equipped with the right technology spent significantly less
time on unrelated tasks.
- Constrained resources require novel approaches to IP
operations: IP teams need to find novel ways to perform their
daily tasks more effectively when budgets are tight. Exploring new
AI-based features and functionalities within the software they
already utilize may help.
Vasheharan Kanesarajah, Vice President, Head of Strategy,
Intellectual Property, Clarivate, said: "IP professionals are under
pressure to prioritize and balance strategy and tactics. A
continuous stream of new tools, technologies and business models
creates a shifting landscape that can be challenging to
navigate. By combining our unmatched data and expertise in
people, processes, intelligence and technology,
Clarivate helps clients transform operations and uncover the
maximum potential of IP."
Learn more about Excellence in IP Operations.
Methodology
Clarivate launched its inaugural IP
Operations Insight Survey, providing benchmarks to shape and
support the future of IP practices. 184 IP professionals from
corporations and law firms, present in 50 countries, responded to
the online survey between May 1 and July 12,
2024.
Of those who responded, 63% worked at corporations, with the
largest sectors being Manufacturing (14%) and
Pharma/Biotechnology/Healthcare (9%). The remaining 37% worked
within law firms or legal services.
Geographically, respondents were primarily located in
the United States (31%),
Germany (8%) and the United Kingdom (6%), with the remaining spread
across 47 other countries within Africa, Asia,
Europe, Oceania, and the
Americas.
Survey recipients were asked to answer 22 questions designed to
measure effectiveness in IP operations, which were used to
establish baseline benchmarks for measuring IP operational
excellence.
These questions measured critical aspects, including:
- Key performance indicators (KPIs) and strategy
- Staffing and resource allocation
- Training and process management
- Technology and artificial intelligence.
About Clarivate
Clarivate™ is a leading global provider of transformative
intelligence. We offer enriched data, insights & analytics,
workflow solutions and expert services in the areas of Academia
& Government, Intellectual Property and Life Sciences &
Healthcare. For more information, please
visit www.clarivate.com.
Media Contact:
Jack
Wan, Director, External Communications
newsroom@clarivate.com
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SOURCE Clarivate Plc
