Intellectual property and patent disputes are some of the top legal issues that keep tech company managers up at night.
Labor and employment disputes are high on the list for tech companies according to the 17th Annual Litigation Trends Survey byNorton Rose Fulbright.
Stakeholders looking to address legal challenges should consider three factors.
Technology respondents were more likely to be concerned about intellectual property disputes than any other potential dispute source, with 42% listing them among the most concerning, compared to 16% across all industries.
The core function of most technology companies is to develop and market innovative technology and solutions, and so it is unsurprising that the most relevant and important disputes are those related to intellectual property. The reason why disputes were a concern was because of the critical nature of the intellectual property assets.
The costs associated with defending against accusations of patent infringement were top of mind for respondents. Defending against intellectual property disputes can be a drain on resources, particularly given the continued cost and prevalence of disputes initiated by entities whose primary business is to obtain and enforce patents against technology companies.
Many people are expanding their legal teams. Adding additional in-house legal staff, engaging outside counsel, expanding investigation and enforcement actions against potentially infringing activity, and building a more mature and robust contract drafting and review process are all strategies.
Cyber security and data protection issues were listed as the top dispute trend by technology respondents, which was more than any other industry. They said protecting their own proprietary information and their customer's information was important in an increasingly global market.
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