Global IP Industry Primed for ‘Digital Revolution’ and Brave World
IP technology leader CPA Global has launched a new global campaign – New IP – calling on the international IP industry to radically re-imagine the business of innovation.
According to CPA Global, the 2020s are set to be the decade of radical digital change for the IP and Innovation industries and the law firms that strategically advise them.
The risk, says CPA Global, is that by ignoring the digital imperative the IP industry – which remains reliant on infrastructure and processes which are rapidly approaching breaking point – will itself will become a brake on the pace of global innovation,
Driving this race toward ‘New IP’, according to a new CPA Global report also released today, are a number of factors set to revolutionise how the IP industry works – and the pace and method of how innovations are brought to market, including: Blockchain; Artificial intelligence; Big Data and increasing global cooperation between national IP regimes.
This reality requires the industry to radically re-think its approach to many aspects of IP and innovation, and those that lead and embrace the idea of ‘New IP’ will ensure they make better business decisions.
Toni Nijm, Chief Strategy Officer at CPA Global, said, “Intangible assets, notably including IP, are continuing to grow as a share of company values, while an increasingly competitive global marketplace means that businesses will either thrive or wither on the basis of their ideas and innovation
“IP management remains in many cases an analogue endeavour, fraught with inefficiencies. The technological solutions are out there already, waiting to be unleashed and ready to drive a digital revolution across the IP industry.
“The industry as a whole has to reimagine how the IP system works so the best ideas can be brought to market more quickly and effectively. IP’s time has come to embrace the power of technology and we want to use our expertise, tools and experience to help the IP industry navigate its digital journey.
“Industries don’t transform overnight of course, and the pace of change will be different for individual organisations. Regardless, we are throwing down the gauntlet to the industry to see the 2020s as the decade of digital as we move towards a more connected, integrated, faster and more productive IP ecosystem.”
CPA Global is rolling-out a global programme incorporating an industry engagement and awareness campaign – and an online New IP hub providing access to the latest thinking on digital transformation in IP from CPA Global and its customers, tools and guidance on how to successfully leverage digital within the IP environment. New IP will be the key theme at IGNITE2019, CPA Global’s flagship annual event held this year in Monaco, November 11-13.
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