Monday, November 17, 2008

Credit Crunch-Opportunities for IP Counsel to Add Value

IP Finance has a list of five ways that the credit crunch may affect IP-related development and transactions. All of them have implications for IP counsel; ways that attorneys can help clients get their IP houses in order, so to speak.

The one that caught my eye is the first on the list: companies may turn to open source or outsourcing to help reduce software development costs.

Both routes are not without risk, of course. If the developers (whether in-house or outsourced) are using open source tools or code to create new software, the company needs to know how that choice could affect the marketability of the resulting product. Outsourcing the development requires careful planning and a strong agreement so that the client can keep control over development costs and timing. Two opportunities for IP counsel to help in ways that truly add value.

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