The Future Of IP: Top 10 Changes To Expect In The Next Decade

Remarkable technological and cultural transformations have impacted Intellectual Property rights management during the past 25 years and many experts agree, IP legal practices are not keeping up with today's technologies. Examining how the industry will adapt over the next decade, ten key changes will have a significant influence on IP practices.

1. Global vs. National IP

   During the last 50 years, policies and treaties have focused on global, rather than national IP protection. The Madrid Protocol, ICANN's UDRP process, WIPO's Patent Cooperation Treaty, and the European Union's Intellectual Property Directives, are just a few examples. They all aim to facilitate the global protection of Intellectual Property rights (IPRs) in a world where businesses are not constrained by national borders, but global protection is hampered by high costs and uncertainty. For IPR holders, this raises potential risks.

   Stronger IP protection will help to develop the global economy and increase international cooperation among nations. In this context, owners of IP rights will have to plan for global protection. However, global protection brings additional expenses. There are significant risks of out-pricing smaller businesses and individuals from obtaining full protection of their IPRs.

   In addition, global protection is complex and uncertain. International IP treaties don't cover everything and in cases like the TRIPS agreement, will barely bring harmonization to national laws. Lucas Osborn, in the Campbell University Law Review, notes "TRIPS brings some harmonization, but it does not bring uniformity. This leaves additional room for uncertainty, but perhaps the benefits outweigh the costs. Suffice to say that the tension between certainty and flexibility will exist for some time to come."

2. Data-driven IP

   The development of artificial intelligence (AI) will improve IP practices during the next decade by assessing the value of IPRs, evaluating the performance of patent prosecution with the help of algorithms, improving predictability and cutting costs for IPR owners. Algorithms can also be "trained" to analyze and manage IP portfolios, making them more cost-efficient and error free. This is especially true in the area of patent prosecution and filing, where the costs are traditionally higher.

   Simultaneously, the use of AI will inevitably generate new questions as systems become more sophisticated and creative. Courts and legislators will have to address the...