I have anticipated the movement of IP legal practitioners from an “Ex Post Facto” practice to an “Ex Ante Facto” practice. Essentially, this shift entails a move away from purely IP litigation or transactional practices, and a move towards the IP monetization space. I’ve identified a few examples thus far, and the newest name on this list is MioTek LLC, a new boutique law firm opened up in Milwaukee by Joe Miotke, former partner and IP practitioner for Michael Best & Friedrich. MioTek’s website offers the following regarding its newly minted, but hardly inexperienced, IP monetization practice:
MioTek LLC is Wisconsin’s first law firm, and among the United States’ first law firms, focused upon assisting clients generate revenue from their intellectual property (”IP”) assets, often referred to as monetizing IP.
MioTek’s primary goal is assisting its clients’ participation in the new global IP marketplace and generating revenue from their existing IP portfolios. In addition, MioTek assists its clients in positioning themselves to generate revenue from their IP portfolios going forward. MioTek typically collaborates with its clients’ current outside IP counsel who lack expertise in monetizing IP, leveraging the current IP counsel’s knowledge of the portfolio and maximizing efficiency.
MioTek is also a full service IP law firm and counsels its clients in all aspects of IP such as patent litigation, patent prosecution, patent clearance and freedom to operate opinions, and intellectual property transactions.
Joe Miotke and MioTek LLC is yet another piece of evidence that the IP legal practice is changing to meet the cutting edge of demand. The “fix-it-when-its-broken” approach to IP services is no more, and the IP monetization space is the new optimal point where corporate demand for IP services meets IP legal offerings.
A “good luck” to Joe and MioTek, LLC, and congratulations for “seeing the light”.
(pictured here is a small lizard in Chile. I would have liked to take the guy home, but you never know when a funny little guy like this could turn into one of those monsters from Jurassic Park . . .)