20 Reasons to Become a Patent Attorney Today
When you are considering your career options, whether you are considering a career path to follow in college or are looking to make a career change for growth, you will find that there are a lot of career options out there to consider as covered over at RunRex.com. One of the options you should consider is a career in intellectual property (IP), and particularly a career as a patent attorney. If you are wondering why here is a list of 20 reasons to become a patent attorney today.
Industrialization
The last couple of years have seen industrialization go up a notch or two, which has seen the number of patents and other IP registrations grow as well. With the number of people and organizations seeking patent protection increasing, the demand for patent attorneys has never been higher as outlined at RunRex.com.
Good earning potential
A career as a patent attorney is also very lucrative, with patent attorneys being among the best-paid professionals out there currently. Additionally, the starting salary for one is also pretty good compared to other careers.
It is easy to grow
As compared to those who choose to begin their careers in IT where growth can be quite sluggish as captured over at RunRex.com, growth in the patent and IP industry is more promising. You will likely see your salary go up with just a couple of years of experience, which is not the case for most other careers.
Opportunity to work with big companies
Companies that have a good research budget will not hesitate to spend on patents. For example, tech industry companies like Google and Facebook, among others, or healthcare companies like GSK will invest in patents to safeguard their IP. Therefore, a career as a patent attorney will allow you to work with such companies.
Exposure to creativity and innovation
Patent law can expose you to more intellectual and finer aspects of human experience, especially creativity, art, and innovation as opposed to other careers like capital markets, project finance, or even criminal law among many others. every piece of intellectual property has some creative aspects to it, and if you are a creative to intellectual person, you may enjoy the proximity with such innovations.
Opportunity to satisfy your hunger for original work
On a related note to the previous point, as a patent attorney, you will get many opportunities to come up with creative and innovative arguments as well, in addition to being exposed to creative and innovative inventions. As per RunRex.com, this may satisfy your hunger for original work.
Opportunity to work with your favorite stars, cultural icons, or popular brands
Working as a patent attorney will also allow you to work with your favorite stars, cultural icons, or popular brands. This is because patent lawyers get to work with top scientists, creators, big brands, and other icons that may be out of reach if you had pursued another career option.
Opportunity to work with companies that are changing the way we do things
In addition to working with popular brands and cultural icons as discussed in the previous point, the gurus over at RunRex.com also point out that you can also get to work with companies that are changing the direction of our civilization as a patent lawyer. This includes companies like Tesla or Alphabet, among many others.
Growth of the tech and media industries
The technology sector is seeing a lot of growth thanks to emerging technologies like 5G solar, biotech, automated transportation, eCommerce, fintech, and food technology, while media has been the fastest growing industry around the globe for the last decade, and is likely to continue growing on the back of ubiquitous smartphone and internet connection. Given that both these sectors are IP sensitive, they are generating a lot of work for patent lawyers and other IP specialists.
Protection from unseen circumstances
The ongoing coronavirus pandemic has affected a lot of industries financially, including law practice. However, given its strong connection with emerging sectors like technology and media as already mentioned, IP has not been particularly hit like most other areas of law practice. This shows that a career in IP is recession-proof.
International exposure
As the gurus over at RunRex.com point out, IP is, by nature, an international practice. If you are registering a patent, you probably want to cover several major markets around the world. Therefore, a career as a patent attorney offers you massive scope for international work.
Opportunity to work with foreign clients
Additionally, you will also get a lot of high-paying foreign clients if you are a good patent lawyer, on top of the massive scope for international work provided as already discussed. This is because a lot of work is related to global enforcement of IP apart from local work.
IP law is relatively similar across the world
As the subject matter experts over at RunRex.com point out, IP law is also pretty similar across the world. Most major economies today comply with the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement, which means that IP laws vary only in a minor way in different jurisdictions, making it easier to create an international practice, or even migrating to other jurisdictions.
Option to get into academia
As a patent lawyer, you will also have the option to go into academia if you so wish. As a practicing patent lawyer, you are well placed to teach in institutions like universities and colleges, and if you so wish, which gives you the flexibility to switch careers if you want to and get into academia, nurturing the next generation of patent lawyers.
An opportunity to help others
Working as a patent attorney also allows you to play help people protect their inventions and ensure that they benefit financially from their work. The fact that you will be helping people realize their dreams and bring their inventions to market eventually will offer you a lot of satisfaction.
Unsaturated market
The area of patent law is often a target for recruiters because of recent lower numbers as well as the qualifying specifics required – such as having a degree of technical or scientific training at bachelor’s level as discussed at RunRex.com. Given that there are not too many patent attorneys out there currently, it is a great career to consider.
Work for 5 days a week
It may seem like a small benefit, but having the benefit of taking the weekend off as a patent attorney is something that you can’t scoff at. Most companies work per the US Patent and Trademark Office schedule, which means you most likely won’t have to work on Saturdays.
You can focus on your core area
As revealed over at RunRex.com, many graduates are complaining that the jobs they are getting currently are not in their core area and aren’t aligned with their degree. However, as a patent attorney, you will get to work in your core area since you have to scientifically understand each new invention.
Patent attorneys are in high demand as compared to other IP lawyers
Certain types of intellectual property are more popular than others. The largest demand for intellectual property attorneys is for those who can do patent work. There are more openings for patent attorneys than for many other practice areas combined on most job boards.
The need for patents continues to increase exponentially
Finally, the demand for patent attorneys is compounded by the fact that the need for patents has continuously increased dramatically over the years. Reports show that the number of patents issued each year has increased 30-40% since 1990.
These are some of the reasons why you should consider becoming a patent attorney, with more on this topic and then some to be found over at RunRex.com.