What will IP become after Covid-19 ? - Predictions about the Possible Transformation

It is surely beyond doubt that , Coronavirus has made us to understand what is really important for our lives. While the world is still trying to learn the virus in order to beat it , time has become to be against us and to effect business manners.

IP World has broken out of routine with the postpone of International Conferences. Budgets that have been created for the conferences , receptions , parties , workshops are probably being used for securing the existences. The question is now ''What will IP become?''

The quickness of the reaction will probably be a determinant factor for IP firms and this transformation could be itemized as follows;

• Becoming a Global Boutique

Level of expansion is one of the major factors that shows the reputation of a firm. Having an office in each city , having more employees will of course increase the mobility and have advantages. However , after we return back to normal life and our daily routines , IP World might consider centralizing and to sacrifice the bishop in order to protect the King. The word boutique will probably be the new key to success.

• Change of mentality , not of words but deeds ;

Despite the word flexibility is on everyone's lips , it always becomes real when it is requested. This request- based flexibility will probably become a mentality when odds will be against the firms that resist to change. During this gloomy period , IP World had to evolve very quickly , digitalize very quickly and could not find time to assess the value of the damage. After this assessment , if the firm will not understand the new rules of the world and continue same as before , it will be very late for the flexibility.

• Tailor-Made instead of Uniforms

For a couple of years , transition has begun from the old-school IP mentality to new generation IP Method. After we return back to normal business life , it is predicted that this transition will accelerate since the economic effects of the virus will continue. In order not to be late , it is very critical to give priority to client needs.

• Corporate Snobbism will be the most dangerous taboo

During these days , we are experiencing that world is getting smaller. Each one of us can learn from ourselves , can support ourselves. On a bicycle race , wind is always in favor of the groups. Staying out of IP Community will probably be a long-term suicide.

• Time is a currency that never loses in value.

It is a big dilemma for us to understand the value of time when we have a lot of time during these days. Coronavirus will change the way the world does business. Despite integrity of the information will be still the most important element , infoglut is not and will never be. Balance between the information that has been given and time that will be spent to analyse the information for the client will be the key to success.

• A vaccine for the documentation?

Quarantine has also obliged some of the National IP offices to accelerate taking some measures. Despite it is not a prediction but a wish , National IP Offices might also consider to ease the bureaucracy such as flexing the legalized Power of Attorney procedure etc. in order to let the marks penetrate into markets with their registered trademarks. Let's keep our fingers crossed.

Kerem GÖKMEN (Trademark Attorney)