The head of Hogan Lovells’ IP practice in Asia Pacific and the Middle East says clients risk losing out on the benefits of artificial intelligence due to a lack of awareness.
Commenting on new research from the global law firm showing that AI will revolutionize trademark prosecution and enforcement over the next five years, Lloyd Parker says brand owners have an opportunity to use the technology to make efficiencies and savings.
"However, there is worrying lack of awareness about AI and businesses risk missing out on its benefits due to insufficient knowledge and investment in the new technology,” he said. “This is an area where all companies should be paying more attention and seeking out beneficial opportunities.”
The Hogan Lovells research reveals that time and cost savings are expected to be the biggest benefits of AI, which will also impact on trademark prosecution clearance searches, according to 93% of respondents.
They also believe that enforcement will be enhanced by AI, particularly when related to online infringement.
Asia is expected to see a rise in AI spend by 2023 but Europe’s businesses have trademark teams twice as large as those in Asia and the US and are therefore investing more.
Six of the top 10 jurisdictions in which brand owners experience the greatest challenges in trademark prosecution are in Asia, led by China although respondents acknowledge improvements there.
Global firms advise on $300m Crudine Ridge Wind Farm
A team from Norton Rose Fulbright has advised the sponsors involved in a new $300 million wind farm project near Mudgee, NSW.
The Crudine Ridge Wind Farm has been developed by leading renewables developer, CWP Renewables in conjunction with Partners Group; under their newly formed Grassroots Renewable Energy Platform.
Norton Rose Fulbright partner Jo Crew led the cross-practice project team which included lawyers from Melbourne and Sydney.
“We are pleased to have worked with CWP and Partners Group on delivering yet another bench-mark setting renewables project, having advised the same sponsors in 2016 on the 270MW Sapphire wind project,” commented Crew.
Clifford Chance advised Partners Group on the establishment of the AU$700 million Grassroots Renewable Energy Platform.
Partner Andrew Crook led the Sydney-based team.
"The renewables market is a hive of activity here in Australia, with investors seeing clean energy as an imperative to driving sustainable economic growth. This reflects what we are seeing across Asia Pacific and we are delighted to continue supporting Partners Group with their investments in this space," he said.
International firm hires veteran Chinese partners
Two veterans of the Chinese legal profession have been hired by international firm Perkins Coie in Beijing.
James M. Zimmerman and Scott J. Palmer will join the firm’s business and IP practices respectively, with three decades of experience in the market.
Both lawyers join from Sheppard Mullin Richter & Hampton LLP’s Beijing office. Zimmerman formerly led the office and is Chairman Emeritus of the American Chamber of Commerce in China.
“It’s a significant gain for the firm to welcome Jim and Scott, two esteemed lawyers who bolster our growing teams in Beijing and Shanghai,” said Michael House, Managing Partner of Perkins Coie’s Beijing office. “Their exceptional experience and impressive track records in China further our
ability to counsel our clients—particularly U.S. companies—in the transactional, regulatory, trademark, litigation and e-commerce areas.”