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Intellectual Property: General

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Intellectual Property
General

The designation of “IP lawyer” may refer to a lawyer working with IP transactions and portfolios, an attorney handling the administrative aspects of IP, or a litigator dealing primarily with IP issues. A transactional practice in IP law may include many kinds of transactions: structuring a license agreement between the IP owner and a licensee; negotiating and structuring transfers of ownership; drafting commercial agreements involving IP; or providing strategic advice on IP issues related to other corporate transactions. An administrative practice involves applications, petitions and other correspondence with an appropriate administrative body, such as the U.S. Patent and Trademark Office. Litigators enforce and protect a clients' IP rights in court. Patent litigation, in particular, is often a contest with high stakes for both parties to the dispute.

IP law today also has a significant international component. [...]

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The designation of “IP lawyer” may refer to a lawyer working with IP transactions and portfolios, an attorney handling the administrative aspects of IP, or a litigator dealing primarily with IP issues. A transactional practice in IP law may include many kinds of transactions: structuring a license agreement between the IP owner and a licensee; negotiating and structuring transfers of ownership; drafting commercial agreements involving IP; or providing strategic advice on IP issues related to other corporate transactions. An administrative practice involves applications, petitions and other correspondence with an appropriate administrative body, such as the U.S. Patent and Trademark Office. Litigators enforce and protect a clients' IP rights in court. Patent litigation, in particular, is often a contest with high stakes for both parties to the dispute.

IP law today also has a significant international component. Many business clients have non-U.S. customers, suppliers and distributors, and practitioners need to protect and enforce their clients’ IP rights in foreign markets.

In the field of intellectual property, an interdisciplinary approach is highly valued. Although IP lawyers with a transactional or litigation practice need not have the technical depth required for patent prosecution, IP practitioners frequently develop at least a business understanding of the technologies emerging in a particular industry. For the student interested in commercial IP transactions, especially, some familiarity with the industry’s relevant technology and business models is necessary and useful.

 
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