The Licensing Executives Society created a number of committees for the purpose of creating business process standards for the management of intellectual property. In January 2017, LES was accredited by the American National Standards Institute as a Standards Development Organization for this purpose. One of these committees is the Intellectual Property Standards Committee whose role is to create industry-wide standards of conduct for entities and individuals who engage as principals or agents in the practice of licensing patents and other intellectual property.
These standards will serve to:
- Enhance the standards of business conduct in IP licensing transactions;
- Enhance the level of expertise of those engaged in the business of IP licensing transactions;
- Enhance the value of IP for owners ranging from inventors to enterprises;
- Improve the efficiency of IP licensing transactions through established best practices; and
- Reduce the cost of IP licensing transactions and related IP management expenses.
The American Bar Association asked and LES agreed to have a representative of the American Bar Association on the Intellectual Property Standards Committee to keep up to date on the development of these standards. If you are interested in participating in the Intellectual Property Standards Committee of LES or being a liaison for the Canadian Bar Association Transactional IP Committee on this committee, please contact Silvia de Sousa (Chair of the CBA Transactional IP Committee) at svd@tdslaw.com or 204-934-2592.