Significant Developments in Intellectual Property Law in the Past 10 Years
This appendix summarizes the developments in intellectual property (IP) law in the United States in the first decade of the twenty-first century. This decade has been a dynamic period for IP law, and these changes reflect a number of important trends in the commercial markets that have driven these changes.
Recognition of Value of IP Rights
This decade reflects a dramatic increase in the understanding of businesses about the value of their IP and the need for corporate executives to manage the opportunities and the risks arising from IP. In a recent online survey of more than 630 U.S. and U.K. executives conducted by the consulting firm Accenture, more than 54 percent of the executives reported that their companies have a chief innovation officer or equivalent C-level position dedicated to innovation.
This change has been driven by six factors, which are described in the following sections.
Factor 1: Increase in IP Litigation and Damages
The dramatic increase in IP litigation and the increasing size of the judgments have made this area critical for business. According to a study by Navigant Consulting, the average size of the judgment in patent cases has increased each decade: In the 1980s, the average patent judgment was $6.2 million; in the 1990s, the average patent judgment was $13.2 million; in this decade (the study only covered 2000 to 2008), the average patent judgment was ...