Why Patent Applications Increase In A Down Economy
Black Enterprise:
Even in a down economy, New Jersey companies continue to generate new patent applications, keeping attorneys specializing in intellectual property rights busy.
Ranked fifth in the nation in patent infringement litigation, the New Jersey docket reflects the state’s history of innovation. Even as the telecom companies shrank and pharmaceutical growth has slowed, the rise of biotech companies, spin-offs and start-ups have helped maintain a growing pipeline of patent applications in the Garden State.
The global nature of the economy is driving business for intellectual property attorneys. It also is changing the role of intellectual property in corporate cultures; elevating patent application filings is an important part of strategic business planning.
The patent law business also is changing as a result of recent federal court decisions and cases that were still being decided as this story went to press. Congress, which has let the proposed Patent Reform Law languish for several years, may act on it by this summer, some of the attorneys interviewed here say.
The slowdown in the economy in general and retrenchment in the traditional bastions of New Jersey job growth and patents issued – big pharma and telecom – is not changing the amount of work for patent attorneys. Read more.
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