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No trade is a stranger to litigation, however for the tech sector, it seems mental property (IP) and patent disputes, adopted by cybersecurity and knowledge safety points, are among the many prime authorized issues that maintain tech firm managers up at evening.
Based on the 17th Annual Litigation Tendencies Survey by Norton Rose Fulbright, which surveys tons of of in-house litigation leaders from international companies, labor and employment disputes are additionally excessive on the record for tech corporations.
Startup groups, authorized counsel and different inner stakeholders seeking to tackle these authorized challenges ought to contemplate three key elements impacting the sector.
IP disputes: The highest litigation concern going through the sector
Know-how respondents had been extra prone to be involved about IP disputes than some other potential dispute supply, with 46% itemizing them among the many most regarding, in comparison with 16% throughout all industries.
Provided that the core operate of most know-how corporations is to develop and market revolutionary know-how and options, it’s unsurprising that tech corporations listed IP disputes as having probably the most relevance and significance to them. Respondents cited the vital nature of IP belongings to their core enterprise as the rationale why disputes had been such a priority.
The prices related to these disputes, notably when defending in opposition to accusations of patent infringement, had been prime of thoughts for respondents. Defending in opposition to IP disputes is usually a drain on sources, notably given the continued price and prevalence of disputes initiated by “patent trolls” — entities whose major enterprise is to acquire and implement patents in opposition to know-how corporations — far exceed the prices related to leveraging the patent to supply items and providers.
Many respondents reportedly are increasing their authorized groups. Methods embrace including further in-house authorized workers, participating outdoors counsel to give attention to particular IP methods, increasing investigation and enforcement actions in opposition to probably infringing exercise, enhancing the safety of firm patents and constructing a extra mature and sturdy contract drafting and assessment course of for IP-related contracts.
Tech companies really feel uncovered to cybersecurity, knowledge safety disputes
Know-how respondents listed cybersecurity and knowledge safety points as the highest regarding dispute development, greater than some other trade — 71% reported they felt extra uncovered to cyber safety/knowledge safety disputes, in comparison with the earlier 12 months. They stated defending each their very own proprietary info and their buyer’s info was vital, notably in an more and more international market.
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