Intellectual property law remains hot

Intellectual property law continues to be one of the hottest practice specialties for lawyers. 

“Twenty-five years ago, the value of a corporation was 75 percent hard goods versus 25 percent intangible assets and intellectual properties,” said Richard Hermann, who has written extensively about legal careers and teaches online courses through Concord Law School. “Today that has completely flipped with the corporate value being 80 percent intellectual properties and intangible assets and only 20 percent in hard goods.”

Robert Half Legal, a legal staffing firm, reported that it continues to be an in demand practice area in need of attorneys and legal support.

Intellectual property law includes patents, trademarks, copyrights, intellectual asset management, technology commercialization and intellectual rights enforcement.

Patent trolls, companies that exist solely to force money out of others using patents, has been rampant in the last five years.

The Supreme Court ruled on the matter a year ago and an act of Congress changed the rules on who can apply for a patent. That has made the area highly volatile and in need of experienced attorneys. That makes the LL.M. a good option, and the continued complexity of the law makes an LL.M. a necessity for many careers. There are 25 law schools that offer an LL.M. in intellectual property.