NEW YORK (PRWEB) February 18, 2021
NovumIP, the leading global IP service provider, today announced its launch in North America, following its establishment in December 2019 as a joint venture between legal and consulting firm Novagraaf and IP administration specialist PAVIS.
One of the largest providers of IP services in the world, NovumIP will now provide North American customers with its range of services including legal and consulting, IP support services and technology solutions. The integrated, global provider combines more than 130 years of legal and consulting work from Novagraaf with high-volume IP administration expertise from PAVIS to meet the patent and trademarks needs of U.S. clients.
The launch of NovumIP coincides with the release of its first comprehensive report on the challenges and opportunities facing U.S. IP professionals, From Recovery to Resilience: A U.S. IP Industry Outlook. The firm commissioned a survey of more than 500 IP professionals around the world, including 182 in the U.S., while also conducting in-depth interviews with leading in-house and law firm IP specialists.
“The findings from our U.S. research reflect the mounting pressure on IP professionals as they seek to effectively manage complex IP portfolios in the face of reduced budgets and amid an increasingly globalized marketplace," said Reinhard Ottway, Chairman, NovumIP. “If they are to succeed in this climate, we believe IP owners and their external advisers require new IP solutions and a new approach to IP service delivery. We established NovumIP in Europe in 2019 to combine localized legal and consulting advisory services with routine, but high risk global administrative support services via smart use of technology. As we enter the U.S. market, we believe that our connected but modular approach to IP legal advice and administrative support, and our flexible approach to technology, will enable us to address the challenges that are keeping IP professionals awake at night.”
The report reveals a remarkable level of strength among IP professionals and their departments despite the many challenges of the COVID-19 pandemic. In fact, two-thirds of U.S. IP professionals are very confident their organizations will emerge from the pandemic in good shape versus 61% of their global counterparts.
“It is encouraging to see optimism in the U.S. IP market despite this very difficult environment,” said Thomas Gruber, CEO of PAVIS, a NovumIP company. “US-based IP professionals are clearly looking around the corner toward global value creation, and are seeking more centralized IP services and better technology to achieve this.”
Other key findings from the report include:
- Industry consolidation is a key consideration that is welcome by most U.S. professionals, with 65% saying it will have positive effects on addressing the fragmentation in this space.
- A primary concern is protecting and enforcing IP, with 42% of respondents citing domestic enforcement as a challenge and 40% selecting international enforcement. Budget cuts (36%) and total cost of IP management and ownership (33%) were also highlighted as challenges.
- Forty percent of respondents said that they need to invest more time and money into IP advisory and strategic services. This was followed by the need to realign IP and business strategy (37%), signaling the growing importance of IP portfolio management for businesses.
- Nearly four in 10 (36%) U.S. IP professionals noted that they struggle to communicate the value of IP to internal stakeholders, far more than counterparts in Germany (25%), the UK (14%) and France (12%).
- Technology upgrades are a priority, as only 28% of those surveyed said their current technology meets their needs. Almost half would prefer a modular or light touch approach regarding their technology.
- When asked what they value most from their service providers, almost half (45%) of U.S. professionals ranked strategic guidance, including benchmarking/sharing best practices. More than half (52%) also said they are looking for greater efficiency/support in budget management and forecasting.
“We have heard loud and clear from U.S. IP professionals that they are concerned with IP enforcement and protection, all while managing budgetary constraints. This is where NovumIP can offer a unique service, streamlining IP management and providing flexibility to mix and match solutions as customer needs evolve over time,” said Lutgarde Liezenberg, CEO of Novagraaf, a NovumIP company.
To access the full U.S. IP industry outlook report, please visit http://www.novumip.com/en/benchmark-usa.
NovumIP is an integrated, global IP provider that was formed in December 2019 as a joint venture by leading IP specialists Novagraaf and PAVIS. Drawing upon more than 380 IP specialists across 19 offices in Europe, the US, China and Japan, NovumIP combines business-focused consulting with tech-enabled services to help clients to achieve their strategic goals. Our modular 'smart IP solutions' extend across the complete life cycle of patent, trademark, design and associated IP rights, including legal & consulting services, online brand protection, patent annuities, EP validations and trademark renewals, as well as flexible IP management technologies and data management solutions. By combining legal expertise with highly efficient IP solutions, NovumIP informs and facilitates critical decisions that increase and protect IP value.
Find out more at: http://www.novumip.com.