The intellectual property (IP) landscape is undergoing rapid transformation, driven by technological advancements and increasing global patent and trademark filings. To understand these changes, we sat down with Venu Venugopal, MaxVal’s Chief Operating Officer and a seasoned expert in the enterprise software industry, to discuss his journey into IP management, the evolution of IP solutions, and where the market may be headed in the coming years.
From Enterprise Software to IP Management
Elisa Cooper: Can you start by sharing a bit about your background and what drew you to the IP space?
Venu Venugopal: My entry into the IP management industry was somewhat unexpected. About ten years ago, I received a call from an executive recruiter at Thomson Reuters regarding a leadership role in their IP management division. At the time, I wasn’t that familiar with the IP management industry, but I quickly realized the importance of the industry and the challenges ahead.
During that period, the industry was in a state of transformation. Companies were looking to adopt sophisticated IP management systems, API-based integrations, and modern annuity renewal processes. The transformation needed was mostly on how to bring together the synergy between services, software, and technology advancements to take IP management to a new level. Given my background in leading software-centric businesses, particularly in SaaS and cloud-based delivery models, I saw an opportunity to bring those experiences and technology heavy solution development methodologies into the IP space.
My career until then had taken me through various roles in software engineering, product management, business development, and corporate marketing, including working in some of the cutting-edge (then) AI/ML systems in the defense sector in early stages of my career. These experiences had given me a strong understanding on how to bring in technology and development processes around technology centric businesses to any complex business setups. Before joining Thomson Reuters, I also had two successful startup exits, where I gained firsthand experience in building, scaling, and taking to market transformative enterprise solutions.
What attracted me specifically to the IP space was the realization that IP assets are some of the most valuable intangible assets a company can have. From conceptualization of ideas to monetizing of IP assets derived from those ideas, the IP value chain is complex, time-consuming, and resource intensive. There were a lot of inefficiencies in that value chain and related ecosystem and the market had started to question the status quo, as I indicated in the beginning. A technology centric transformation was what the market needed, and I happened to be at the right place at the right time with the right skill sets. That was an exciting coincidence and I was quite energized by that.
The Evolution of IP Management Software
Elisa Cooper: How have you seen IP software change in the last 10-15 years? How has the market evolved?
Venu Venugopal: The IP landscape has seen significant shifts over the past decade. A key factor is the sheer volume of filings. In 2010, around 2 million patents were filed globally. By 2023, that number had surged to 3.5 million—a 75% increase. Trademark filings saw an even greater jump, tripling from 3.8 million to 11.6 million per year.
Beyond the raw numbers, we’ve seen fundamental changes in the geographic distribution of IP assets, with a shift from the U.S., Japan, and Germany to China and South Korea. This has implications for global patent strategies, enforcement, and competitive landscapes. Also, this has had implications on what solutions are needed where and how to take them to the market.
Another notable transformation is in how organizations approach IP management. Fifteen years ago, the market was primarily services-driven. Most companies relied on external law firms and IP service providers to handle application preparation, translation, filings, office actions, renewals, etc., and portfolio management in general. While services remain critical, there has been a clear market shift towards services that are closely integrated with software, including services themselves becoming more automated through embedded technology elements. This is exactly what leading vendors like MaxVal embraced early on.
Another major shift has been on increasing importance on user experience (UX), primarily driven by IP management software. In the past, many enterprise IP solutions were known for their complex, clunky interfaces that required more resources than needed to utilize and maintain them. Now, modern platforms are embracing intuitive, user-friendly designs similar to consumer applications, making it easier for IP professionals and business stakeholders to navigate their systems efficiently. Most of the services that never had a self-service concept or interface started to have them. Advances in SaaS and Cloud based delivery models accelerated that shift.
The IP industry quickly became an exciting field for technologists, for sure.
The Impact of Emerging Technologies on IP Management
The rise of artificial intelligence (AI) and machine learning has also had a profound impact on the evolution of IP management software. While AI adoption in IP was initially slow, it has now become a game-changer in key areas, including:
- Automated patent and trademark searches – AI-driven search algorithms can quickly analyze vast amounts of prior art and identify relevant references with greater accuracy than traditional keyword-based searches.
- Predictive analytics for IP strategy – AI can analyze historical filing and litigation data to provide insights into which jurisdictions offer the best patent protection, how likely a patent is to be granted, and which competitors may pose infringement risks.
- Enhanced patent drafting assistance – AI tools are now capable of suggesting optimized claim language and identifying potential drafting weaknesses before submission.
- Portfolio optimization and cost management – Organizations can use AI-driven insights to identify underperforming assets, reduce renewal costs, and prioritize high-value patents.
With the rapid pace of innovation, companies that fail to modernize their IP management processes risk falling behind. The ability to adapt to new technologies, integrate advanced analytics, and optimize workflows will be crucial for success in the evolving IP landscape.
Looking Ahead
As we continue our conversation with Venu Venugopal, we will explore some of the biggest challenges facing IP departments and law firms, what professionals should look for in an IP management system, and where the market is headed over the next decade. Stay tuned for Part 2, where we dive deeper into these topics and examine how the industry is preparing for the future.
