Intellectual Property as a Career
For most people, the term "intellectual property" conjures up a slew of high-profile, often odd battles over who had the first idea. The intellectual property cases have generated plenty of headlines over the years.
With the tremendous advent of technology, IPRs have come to the limelight more than ever before!
Many reliable surveys show that IP as a career is one of the most sought-after careers in recent times.
The IP industry has grown exponentially in the previous two years; the sector has grown by leaps and bounds. Working on tough IP cases inspires and intellectually stimulates many young graduates and experienced officials alike.
The reason for this tremendous rise in the IP career is that there is no boundary to what human beings may invent or how far IP professionals will go to challenge or defend that innovation for the benefit of their clients!
Every work of intellectual property contains certain creative elements. If you're a creative or intellectual person, the proximity to art, invention, and literature may appeal to you. As things stand now, the two horsemen of IP law are technology and media.
Emerging technologies such as solar, 5G, biotech, automated transportation, e-commerce, fintech, and food technology are driving significant growth in the technology sector. For the past ten years, media has been the fastest growing industry on the planet, and it is expected to continue to develop rapidly in the future, thanks to the ubiquitous smartphone and internet connection. Both of these industries rely heavily on intellectual property. Not only do these businesses generate a lot of work in terms of the patent, copyright, and trademark registration, but they also generate a lot of work in terms of licensing, franchising, IP assignment, IP prosecution, and IP enforcement around the world. So, students inclined towards arenas like these are in a win-win situation!
IP as a career can be chosen by students of various science and law streams:
1. BTech graduates/engineers
A quick look at the salary statistics reveals that a career as a patent agent, which does not require a legal degree, pays far more than most engineering areas.
The biggest relief for engineers in the IP field is that they can work in their core field– Most graduates have issues finding work in their core area and associated with their degree. The IP field gives them a chance to be working in the central field of new technological ideas generated by corporations operating in the IPR Cell. Engineers have a deep understanding of the core domain, which is a prerequisite in the IP industry. As a patent professional from an engineering background, your work profile will include both technical as well as legal knowledge. If you are someone who loves reading about new advances in your subject area, technological upgrades, then this field is right for you!
2. Law Graduates
Law is a popular, respectable and one of the most sought after careers in India. In recent years, the developments in IPR have only increased its importance, so a career as an IP lawyer is a very attractive option for students after pursuing law. The designing of confidential information agreements, license agreements, assignment agreements, and franchise agreements are all examples of agreements in Intellectual Property law that are expected from an IP law professional. As the law students have technical know-how about the legal language and articulation, taking up such a role will help them in the long run.
3. Independent Lawyers
Lawyers who are already in the field have a better understanding of the law and stand a fair chance to excel in the field of IP law. As an independent IP lawyer, you can handle a range of important responsibilities in the field of intellectual property protection. You can serve as advocates for clients in court proceedings in some cases. You can also act as consultants, advising customers on intellectual property issues. You may analyze laws and regulations for clients, perform research for various documents, and communicate with clients and other legal experts both orally and in writing.
IP professionals also stand a fair chance to work in Government patent offices.
They are highly trained engineers and scientists that work closely with business owners to process patent applications and determine whether or not a patent can be issued.