What does this practice area consist of?
Think of an object or service that you use in everyday life. The odds are that some form of contract law is or has been bound to it. For example, the device being used to read this article will certainly be bound to terms and conditions. The phone in your pocket is likely bound to a re-payment contract. The continued growth of technology shows that these related practice areas will continue to grow.
These lawyers typically combine a keen understanding of the latest advances in various technologies or properties with a thorough knowledge of the ever-changing law that regulates, protects, and licenses them. With law firms scrambling for Silicon Valley practices, this may be an area of interest for the technologically motivated.
What are the tasks of these lawyers?
- To search global registers of patents to establish ownership of a new intellectual property.
- Advice on commercial transactions, typically with an emphasis on managing risks.
- Protect clients’ interests by securing patents, trademarks, and registered designs. The aim is to ensure decisions benefit your clients while damaging their competitors.
- To write cease and desist letters. These are commonly seen when a 3rd party appears to be infringing the copyright of a client’s product. This is a court-averse practice area, so actions like these are necessary to avoid litigation. If the party does not desist as ordered, a dispute may arise.
- Help clients police their internet reputation and assets.
- Represent customers and suppliers in the negotiation and drafting of agreements for the provision of IT or other services by a third party.
- Work as part of a multidisciplinary team on corporate transactions, verifying ownership of IP rights and drafting documents. A role like this will be common in larger, transaction-heavy firms, where IP or contracts teams typically run as advisory “deal support” teams.
- Draft agreements between the owners of IP rights and those who wish to use them. This will require complex negotiation.
What are the realities of the job?
- There is a requirement to keep oneself continuously in the loop regarding updates and changes in in-laws. This will prove useful, as this will inform the advice given to clients when new issues crop up.
- Attention to detail is a supreme must. The correct wording when drafting a contract is of the utmost importance, as this can hugely affect the terms agreed with a client.
- Deadlines will be incredibly stringent and will determine your workload. The ability to manage these will be crucial.
- Teams may be difficult to qualify into.
- High-end private sector outsourcing involves complex, high-value, and increasingly multi-jurisdictional work. This comes with the promise of long hours.
- Creative and lateral thinking is also a necessity, given the complex issues that will inevitably arise.
- Though the above may sound gruelling, exit opportunities will be abundant.
Ten firms with a noted presence in this area:
- Allen & Overy
- Baker Mckenzie
- Bird & Bird
- Herbert Smith Freehills
- Hogan Lovells
- Linklaters
- Osborne Clark
- Reed Smith
- Taylor Wessing
- Travers Smith
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