The legal landscape has been reshaping since the economic collapse in 2008 and law firms are facing significant challenges. Firms that can redesign their models to better respond to the changing demands and expectations of their clients will have a substantial long-term competitive advantage. A recent spate of initial public offerings, high-profile mergers and acquisitions, and litigation has thrust intellectual property (IP) into an increasingly critical position in global economics. With limited resources and bottom-line pressures from stakeholders, companies require cost-effective IP services. Proper valuation of IP, followed by measures to protect that value, has become a key element of the success and viability of companies. Schwegman Lundberg Woessner is a boutique law firm dedicated to the cost-effective procurement IP services to these corporations.
Introducing the Intellectual Property Law Firm - Schwegman
The stated objective of intellectual property law is to promote innovation. Founded in the year 1993, Schwegman Lundberg and Woessner (Schwegman) was established to provide high-quality IP services to protect innovation. Schwegman has developed proprietary software tools that are fundamentally different from those used by other firms, allowing Schwegman to provide cost-effective IP services, including patent portfolio planning and management, infringement, validity and clearance investigations, opinions, and all phases of intellectual property prosecution practice. Originally founded in Minneapolis, Minnesota, over the past two decades, the firm has acquired not only a national presence but also an international presence as well with the recent opening of an office in London. Schwegman was one of the first boutique law firms in the United States to focus solely on IP procurement and strategy. Schwegman is well known for its patent portfolio strategy practice, which is supported by the patent analytics team. The portfolio strategy practice seeks to apply business and competitive data to patent portfolio management. Data from the analytics team is one input into the portfolio strategy practice.
Unfolding a Progressive Tale
The company was named for three of its founders Mike Schwegman, Steve Lundberg, and Warren Woessner. The founders were shareholders at a large Minneapolis IP firm, and had a vision for a new IP law firm model where client teams drive production and quality work, and innovation is at the forefront of everything they do. Schwegman also provides its clients with a realistic appraisal of litigation risks to better fulfill its mission of providing the highest quality IP services available. In 2004 Schwegman opened an office in San Jose, the center of California’s Silicon Valley, under the leadership of shareholders Andre Marais and Garth Vivier. In 2006, Schwegman opened its third office in Austin, Texas with its new shareholder Mike Lynch at the helm.
The management of large volumes of portfolio data, and responding to the demand for consistent timeliness and quality, are challenges for any intellectual property procurement firm. Schwegman addresses these challenges by deploying sophisticated software and data automation, which provides a proven capability to handle portfolios for major companies. With 24 years of experience in the field, the firm has over 140 attorneys and has procured over 22,000 patents for its clients since 1993. In fact a progressive tale!
‘Knowledge Is the Key to a Healthy IP Portfolio’
Intellectual property rights are the rights granted to the creators of IP and include trademarks, copyright, patents, industrial design rights, and in some jurisdictions trade secrets. Patents can represent a major factor in a company’s economic future. Schwegman’s ClaimPortfolio Management is a homegrown software tool that allows an attorney to cost effectively identify the opportunities and vulnerabilities in a patent portfolio. The tool facilitates deep review of a patent landscape and generates a ‘Claim Coverage Matrix’ that can show which patents and claims are actively protecting a client’s intellectual property, and where gaps or opportunities exist. The process involves categorizing patents not only by claims but also by the overarching scope concepts that can link claims of similar patents. Large numbers of patent claims can be concurrently filtered, searched and accurately analyzed. Schwegman has also developed ClaimScape software that generates interactive claim charts that store claim histories as well as associated scope concepts. This can give an extraordinarily clear view of a client’s portfolio and the competitive landscape.
Hindrances and Assets – Way More To Go Schwegman
There are constantly new entrants to the law firm market. The traditional law firm business models are transforming as many new business structures emerge. As an IP law firm, some of the biggest challenges it Schwegman has had to overcome are managing large volumes of portfolio data, responding to demands for consistent timeliness and increasing need for immediate responsiveness while maintaining quality. Schwegman offers an efficient technology platform that can quickly produce information when clients ask complex questions about their patent portfolios. Along with this, the culture of innovation and service within the firm and a satellite attorney program makes Schwegman the law firm of choice for clients ranging from startups to multinational corporations.