Global Intellectual Property (IP) Law Firm Services Market: Introduction
Intellectual Property (IP) law firm services are IP and legal services offered to corporate houses, government, individual and assisting businesses to procure and protect Intellectual Property Rights. In the current market scenario, the different types of intangible assets of a business are often more important and valuable than its tangible assets. In view of the importance of intellectual property to businesses today, chambers of commerce and business associations across the world are experiencing a growing need to provide members with intellectual property support services.
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Global Intellectual Property (IP) Law Firm Services Market – Dynamics
Rising Number of Intellectual Property Registrations across the Globe
The number of registrations for intellectual property across the globe has increased, with Asia Pacific holding the dominant market share. The number of conflicts among individuals as well as between enterprises has also recorded growth with the growing number of IP registrations. The growing number of IP registrations and need to manage the large number of IP conflicts is driving the growth of the market.
High Cost of Related Service
The cost of intellectual property (IP) law firm services is comparatively high. Protecting a person’s intellectual property entails a lot of money, particularly in the event of a highly complex product that involves designs, methods, and processes. In addition, an individual can expect to pay high legal costs if a lawyer is being hired to assist in the application process.
Asia Pacific to Dominate the Global Intellectual Property (IP) Law Firm Services Market
In terms of region, the global intellectual property (IP) law firm services market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is expected to dominate the intellectual property (IP) law firm services market during the forecast period due to its dominant share in global intellectual property registrations.
COVID-19 Impact on the Global Intellectual Property (IP) Law Firm Services Market
The COVID-19 pandemic is expected to moderately impact the global intellectual property (IP) law firm services market for a short-term period. The lockdown and shutdown has resulted in closure of constitutional institutions in many countries. But services are set to resume with the opening of different economies.
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Global Intellectual Property (IP) Law Firm Services Market – Competition Landscape
- In November 2018, LexOrbis received the Mondaq Top Communicator Award for contributing the most popular articles in India. Every month Mondaq publishes hundreds of articles by contributing firms from over 80 countries around the world.
Incorporated in 1997, LexOrbis is a comprehensive intellectual property law firm based in three strategic locations in India: Delhi, Mumbai, and Bengaluru, with clients across all industries. The company majorly provides services by protecting and enforcing customer rights in patents, trademarks, designs, copyrights, geographic indications, and domain names.
Global Intellectual Property (IP) Law Firm Services Market: Segmentation
The global intellectual property (IP) law firm services market can be segmented based on:
- Enterprise Size
Global Intellectual Property (IP) Law Firm Services Market, by Enterprise Size
Based on enterprise size, the global intellectual property (IP) law firm services market can be divided into:
- Small & Medium Enterprise
- Large Enterprise
Global Intellectual Property (IP) Law Firm Services Market, by Industry
In terms of industry, the global intellectual property (IP) law firm services market can be segregated into:
- Banking, Financial Services & Insurance
- Telecom & Information Technology (IT)
- Wholesale Distribution
- Non-profit Organizations
- Food and Beverage
- Others (Hospitality, Government, and Public Sector, etc.)
Regional analysis of the global intellectual property (IP) law firm services market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.