In 2023, the US IP licensing market was valued at around $62.18 billion, up from $43.5 billion in 2013. IBISWorld estimates that the market will grow to $66 billion in 2024. This remarkable growth underscores the immense value of intellectual property (IP) in driving revenue and fostering innovation. Protecting your IP can mean the difference between thriving in a competitive market and falling behind. Todd M. Nosher, TITLE, and Lucian C. Chen, TITLE, highlight the importance of a robust IP strategy and share their experiences working with a diverse range of clients in their latest video.
Todd and Lucian began their careers with a strong foundation in the biological sciences, which naturally led them to IP law and pharmaceutical litigation. Their deep understanding of chemistry, molecular biology, and general biology has been instrumental in handling complex pharmaceutical cases, where knowledge of the underlying science is crucial.
However, their journey didn’t stop there. As they expanded their practice, Todd and Lucian branched out into general patent litigation, electrical engineering, mechanical devices, and even the toy industry. Each sector brought its own unique challenges and rewards, from the technical intricacies of electrical engineering patents to the playful yet sophisticated world of toy design and branding.
One of the key takeaways from Todd and Lucian’s discussion is the importance of having a robust IP strategy. Whether it’s protecting groundbreaking pharmaceutical patents or securing trademarks for innovative toys, having a comprehensive approach to IP can make all the difference. Their scientific backgrounds not only give them an edge in understanding the technical details but also in crafting effective litigation strategies.
Working across various industries has allowed Todd and Lucian to develop a broad perspective and a versatile skill set. This diversity ensures that they can handle any type of intellectual property matter, providing tailored solutions that meet the specific needs of each client. Their ability to navigate different industries underscores the value of a comprehensive IP law practice that can adapt to the evolving landscape of innovation and business. Secure your innovations with robust IP protection, guided by experienced professionals who understand the nuances of your industry. reach out to Todd M. Nosher at tnosher@mblawfirm.com)or 212-324-1880, and Lucian C. Chen at lchen@mblawfirm.com or 212-324-1876.