Trademark & Patent Lawyers & Attorneys
The Trademark and Patent Lawyers and Attorneys industry provides intellectual property due diligence, application and litigation services to businesses and individuals. Over the five years to 2019, growing investment in software and medical products has sustained high demand for industry services, since these markets are particularly prone to intellectual property litigation. In general, the increased use of software in a range of consumer products, services and business processes has led to a substantial increase in patent litigation due to the complexity of software patents, as well as the increased activity of so-called patent trolls that acquire these patents primarily to extract licensing fees and legal settlements. However, the industry peaked at the beginning of the period, before prominent court rulings curbed incentives for patent litigation. As a result, over the five years to 2019, industry revenue is expected to decline. The industry is expected to experience steadier demand for its services over the five years to 2024. Although recent legal rulings have tempered the volume of patent cases, IBISWorld expects that much of the contraction in case volume has already occurred, with litigation volume now more in line with the pre-troll era.
The Trademark and Patent Lawyers and Attorneys industry comprises legal practitioners, known as lawyers and attorneys, who engage in patent, copyright and trademark due diligence, filing and litigation. This industry does not include intellectual property licensing services and brokers.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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