Demand for Tools to Support the Intellectual Property Business Management Framework Drives Product Strategy, Breeds Opportunity
Hyperion Research 2022 MarketViewTM Report reveals evolving trends in the IP software and services market with a focus on IPBM strategy
NEW YORK – SEPTEMBER 7, 2022 — Innovative service providers that can help intellectual property leaders accelerate legal, business, and operational alignment are needed more than ever before, according to the latest report from Hyperion Research, an Epiq company.
Today marks the release of the 2022 MarketViewTM Report on Intellectual Property Management (IPM) Systems for Law Firms and Corporations. This year’s report provides a comprehensive review of the IPM software market and focuses on end-to-end IPM lifecycle systems and how they enable the modern Intellectual Property Business Management (IPBM) operating paradigm.
Hyperion's MarketViewTM program serves as the definitive analyst-based resource for legal solutions market intelligence and advice. With more than 500 hours of analyst research, benchmarking, client interviews, and vendor briefings, this 2022 MarketView™ report provides an invaluable resource for innovation-driven companies and IP-centric law firms to understand the leading trends in IBPM and business-integrated lifecycles.
"The overarching objective of IPBM is the support of core business operations, revenue generation, and corporate value with a robust data-driven decision-making program,” said Eyal Iffergan, Hyperion Founder and Managing Director, Epiq Legal Business Advisory.
“IPBM is an essential framework that aligns multiple business functions, involving a greater number of decision-makers in the analysis of how to develop innovation into strategic action,” Iffergan said. “In this way, IPBM can be seen as the evolving unifying framework for IP Management, and we are seeing that movement to operations under this framework is driving broad market demand and IPM product roadmaps.”
Expert analysis showed that this focus on IPBM, and the market consolidation over the past few years, has led to increased interest in advanced features, new technology providers and new delivery models. In a market well populated with a broad mix of capabilities, the 2022 MarketViewTM report evaluated 11 advanced IPM solutions for corporate law departments and eight solutions for law firms. It includes detailed analyses of the viability and market visions of IPM solutions from Anaqua, Inc., ClarivateTM, MaxVal, Patrix, Dennemeyer, and TM Cloud.
"Recent mergers and acquisitions continue to reshape the IP Management landscape," said Catherine J. Moynihan, Senior Director, Strategic Intelligence & Advisory at Hyperion Research.
"Our research reveals that while long-standing solutions providers are focused on modernizing and cross-pollinating capabilities across acquired platforms, newer entrants are gaining ground and clients are beginning to critically reassess their options and bolstering their investments."
IP departments also continue to leverage a wide variety of tools outside of traditional IP Management (IPM) systems. While 69 percent of departments report having an IPM in their technology stack, the report identified more than 16 additional tools in broad use. To help sort out this landscape, the strategies highlighted in the report focus on developing a unifying framework that allows organizations to meet their holistic information needs.
“We are struck by the increasing breadth and diversity of other tools and systems the market leans on to marshal data and drive decisions,” Moynihan said. “The market is clearly expressing the need for a diversity of tools to capture, nurture, manage, protect, and defend intellectual assets. Both established players and new entrants are finding opportunities to meet this need.”
At nearly 260 pages, the report provides the research and analysis decision-makers need to drive a solution evaluation process, including:
- Trends in the IPM solution market, such as:
- Mergers and acquisitions shaping the IPM landscape
- Shifting management focus to the impact of an organization’s IP portfolio
- Alignment of core organizational competencies for efficiency deliverables
- Hyperion’s 117 key solution components of leading IPM Systems
- Comprehensive overview of the IPM vendor landscape
- Review and assessment of 19 solutions
- Guiding principles for selecting and implementing solutions
The report is available to all Hyperion Research membership clients or for purchase online with immediate download at Hyperion Research (www.hgpresearch.com). To download the executive summary, visit the IPM MarketView Page. The report includes a 60-minute briefing session with a Senior Analyst to discuss and answer questions about the market and solution providers.
About Hyperion Research
Hyperion Research, an Epiq company, is the industry's leading source for Legal Solutions Market Intelligence. The profession's leaders, innovators, and trend-makers rely on Hyperion as the premier provider of independent market research, analysis, and advisory services. Hyperion provides unparalleled insight into the leading trends in legal strategy, operations, and technology.
Hyperion Research is an independent market research organization. Its research coverage of any vendor is based on their significance in the market and our clients' interests; Hyperion Research does not accept any renumeration in exchange for participation in the MarketView Research program and reports. Hyperion Research maintains full editorial independence over all research reports, research findings and other analyst work product.
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Epiq, Director of Corporate Communications