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Key Themes and Insights from LES

Key themes and insights from 2023 LES Meeting in Chicago

The Future of IP Licensing: Key Takeaways and Insights from the LES Annual Meeting

The Licensing Executives Society (LES) held its annual meeting last week in Chicago, bringing together IP licensing professionals from around the world to discuss the latest trends and strategies in the field. Global Patent Solutions was an active participant in the meeting, and we enjoyed both the opportunity for gaining additional perspectives on industry trends and the opportunity to engage with some of the best and most talented IP professionals from a wide array of industries. It was also great to meet face-to-face with so many that we do business with but don’t otherwise get many opportunities to interact with other than by phone or email.  It was a lot of fun!  Let me share some of the key themes and insights that emerged.

Key Themes and Insights from LES

One major focus at the meeting was the impact of AI on IP licensing. Several speakers addressed concerns about AI-generated inventions and content, and whether they can or should be patented and licensed. Though there are still more questions than answers, many experts advised getting ahead of the issue by reviewing current policies and proactively addressing AI in licensing agreements.

Sustainability was another hot topic, as social responsibility becomes increasingly important to companies and consumers alike. Licensing can play a key role in advancing corporate ESG goals, through ensuring ethical sourcing and production methods. Several sessions focused on sustainable licensing programs in the retail industry.

Data privacy and security also continue to pose challenges in IP licensing deals, especially globally. Speakers emphasized the need for robust due diligence around data practices, as well as clear contractual terms governing data use, to mitigate risk. Having checks and balances around internal data handling was also advised.

On the technology front, experts encouraged licensors and licensees to keep pace with emerging tech like 3D printing, NFTs, and the metaverse, which raise novel IP issues. Being nimble and thinking creatively will be key to leveraging new technologies while protecting IP rights.

In closing, flexibility and collaboration were recurring themes across sessions. As one speaker put it, “Uncertainty and change are the only true constants today. The most successful licensors and licensees will be those who can adapt quickly and work together to navigate the future of IP licensing.”

Looking Forward

Participants left the meeting feeling energized and equipped with new ideas to bring back to the office. With commitment to reflect further and act upon the key themes and insights the LES Meeting provided, the coming year is certain to be exciting and action-packed, with plenty of IP licensing activity.  Global Patent Solutions stands ready to support you in your IP licensing efforts.  I look forward to seeing how these trends and best practices continue to evolve at next year’s meeting!