While the urgency for obtaining early acceptance of patent applications remains critical for our clients, a fresh challenge has emerged in the form of complying with the new Form 27 requirements. Recent amendments to the Indian Patent Rules in 2024 now require patent holders to adhere to a new timeline and format for filing their working statements for patents in India. Navigating this regulatory obligation while ensuring timely filings poses challenges without reliable guidance, particularly as businesses are under increasing pressure to manage their patent portfolios effectively across jurisdictions.

As the regulatory landscape evolves, ensuring that clients are well equipped to meet these requirements will be critical in the coming year, as will managing the interplay between compliance and strategic IP enforcement. On a positive note, the backlog in patent applications has seen significant improvement, with more than 100,000 patents granted last year alone. This surge is a result of concerted efforts by the Indian Patent Office to streamline processes and expedite examinations. 

How does the firm measure a successful IP monetisation strategy?

At our firm, a successful IP monetisation strategy is measured by how effectively it aligns with our clients’ business goals and maximises the value of their intellectual property. The first key indicator of success is the financial return generated from the assets, whether through licensing agreements, strategic partnerships or sales. A well-executed monetisation strategy should not only cover the costs of protection, but also generate significant revenue streams and contribute to the company’s bottom line. 

Beyond financial metrics, we consider the strategic impact of IP monetisation. This includes how well the strategy strengthens the client’s market position, enhances competitive advantage and supports overall innovation efforts. A successful strategy should allow clients to leverage their IP assets to enter new markets, block competitors or secure valuable collaborations. Additionally, the ability to effectively manage risks associated with IP enforcement and litigation while minimising the threat of infringement also factors into how we measure success. 

Ultimately, the goal is to create immediate value and establish a long-term framework for clients to continue benefitting from their intellectual property. In short, a successful IP monetisation strategy is measured through detailed review of financial outcomes, strategic alignment, market impact and qualitative results, helping the firm to refine its approach and make informed future decisions.

With DEI gaining traction in the patent sphere, what is LexOrbis doing to embed these principles into its hiring practices? 

LexOrbis is committed to deeply embedding DEI principles into its hiring practices. Our approach includes actively promoting equal opportunities, with approximately 65% of our professionals and staff being women. We offer various benefits designed to support work-life balance, such as work-from-home options, six months of maternity leave, sabbaticals, crèche facilities, flexible working hours and a safe work environment. These initiatives help to empower diverse groups and ensure that they have the resources and opportunities to excel.

Our team is intentionally diverse, comprising individuals from across India and representing various ages, backgrounds, ethnicities, physical abilities, political and religious beliefs and genders. We focus on nurturing young talent and preparing them for leadership roles to emphasise, reflect and embrace the diverse cultures and values within our workforce.

How does LexOrbis go about building a world-class patent team? 

At LexOrbis, building a world-class patent team begins with a focus on attracting top-tier talent with deep technical expertise and legal acumen. We understand that patent law requires a unique combination of scientific knowledge and legal proficiency, and we thus prioritise hiring professionals with advanced degrees in diverse fields, such as engineering, biotechnology, pharmaceuticals and computer science. Additionally, we invest heavily in ongoing professional development, encouraging our team to stay up to date with the latest changes in global patent law, technology trends and industry best practices.

We encourage cross-disciplinary teamwork, where patent attorneys, agents and technical specialists work closely together to develop comprehensive strategies for our clients. This collaborative approach ensures that each client benefits from the entire team’s collective expertise rather than just one individual. We also emphasise mentorship and leadership development, empowering our attorneys to grow into industry thought leaders who can guide clients through the complexities of patent prosecution, enforcement and monetisation on a global scale. 

What has been the biggest challenge for the firm in the past year, and how did you overcome it?

Over the past year, one of the biggest challenges has been dealing with emerging IP-related issues, especially as innovation continues to surge in developing fields such as AI, biotechnology and blockchain. These emerging industries have introduced new complexities in IP law and require us to adapt quickly to the unique technical and legal challenges they pose. Simultaneously, our clients in these sectors are moving at an accelerated pace, pushing us to expedite patent filings and strategies while keeping up with the constant advancements in these industries.

In addition, law firms are facing significant cybersecurity challenges. As the importance of data privacy and security grows in the IP sector, protecting sensitive client information has become paramount. With the increase in cyber threats, we have invested heavily in strengthening our IT infrastructure, enhancing encryption and implementing stricter data protection protocols to ensure that our clients’ confidential information remains secure.

Another key challenge has been finding the right talent to manage this influx of work and navigate the complexities of emerging fields. Recruiting individuals with both technical expertise and legal skills in specialised areas like AI and biotech has proven to be difficult as the demand for such professionals has skyrocketed around the world. To address this, we have intensified our talent acquisition efforts by expanding our recruitment networks and offering comprehensive training programmes for new hires. We are also focused on building an environment that fosters innovation, collaboration and continuous learning to retain and nurture top talent. 

What are three key considerations that rights holders should bear in mind before commencing patent litigation in India, and why are these so important?

Rights holders should carefully consider factors such as jurisdiction, patent strength and cost effectiveness before commencing patent litigation in India. 

First, choosing the right jurisdiction is crucial as understanding regional differences in interpretations of patent law and court procedures can significantly impact litigation strategy and outcome.

Second, rights holders must thoroughly assess the strength of their patent before pursuing litigation. This involves ensuring that the claims are robust and clearly defined, as Indian courts are known for their rigorous scrutiny of validity. A strong patent that is supported by comprehensive documentation and expert analysis greatly increases the chances of a favourable ruling.

Finally, while India is often seen as a cost-effective jurisdiction compared to other countries, patent litigation can still be expensive and time consuming, especially if the case is prolonged through multiple appeals. Rights holders should weigh the potential financial benefits of enforcing their patent against the costs and time involved. 

LexOrbis works with a range of clients in many different industries, from pharmaceuticals to luxury consumer goods. How does the firm tailor its strategy to fit each client’s needs?

At LexOrbis, we recognise that each client’s IP needs are unique because of their distinct industry, business objectives and competitive landscape. To tailor our approach, we begin by conducting in-depth discussions with clients to thoroughly understand their business goals, IP portfolio and challenges. We then assemble a team with relevant industry expertise, ensuring a deep understanding of the client’s sector and IP complexities. 

This enables us to develop a customised IP strategy aligned with the client’s goals, considering factors like patent landscape, competition and market trends. By adopting a client-centric and industry-focused approach, we deliver effective IP solutions that drive business success and protect our clients’ valuable assets.

What are the key characteristics of a strong intangible asset valuation strategy?

A strong intangible asset valuation strategy should integrate several key characteristics to ensure accuracy and reliability. First, it involves a comprehensive assessment of the asset’s nature, purpose and impact on the business. Employing a market approach by comparing the asset to others that are similar helps to establish a benchmark value. Understanding legal and regulatory aspects of the asset, assessing associated risks and consulting with valuation experts ensures that the valuation reflects industry standards and best practices. Additionally, evaluating past performance and prospects, maintaining thorough documentation and regularly updating the valuation in response to market changes are crucial for maintaining the accuracy and relevance of the valuation.