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Intellectual Property: Financial habits that makes a successful Legal Manager

2018-12-02T21:30:02+00:00December 2nd, 2018|

Now a days there are more women fulfilling the position of Legal Managers in the Intellectual Property field than before, this is due to their success in their personal and professional life.

They are becoming ambitious, multitasking and empowered lawyers, that focuses in their intellectual and professional growth. This makes their lifestyle more admirable in the elite group of lawyers they belong to, since they are acquiring new economic habits that lead them to success because of the acquired capacity of decision-making in their field.

Four economic habits that IP Lawyers have in their lives and have taken them to success:

First Habit: It is really important to always have goals, what do you want, how are you going to achieve it and if it’s doable in a short, medium or long term.

Time, it’s an important factor for Intellectual Property lawyers, because as we all know we must meet certain times to register a Patent or Trademark in a market, since each country handles different temporalities and requirements.

For example, the Trademark protection in Mexico lasts 10 years from the issuance date. Mexico trademark renewal can be applied indefinitely every 10 years, and this application must be filed within six months before the expiration date. If a lawyer forgets to file a renewal application before the expiration date the client might lose its trademark or paid additional fees.

Second habit: Their personal finances are orderly and they always create budgets. This helps them control their monthly and annual expenditure. According to studies, you must manage 60% in fixed expenses, 10% variable expenses, 20% in savings for future projects and 10% for emergency or health expenses.

In matters of patents, having an order in their time and finances helps them to keep in mind all the dates in which they must present a resource or application, and not to let any term pass.

Third Habit: It is important to have autonomy and capacity to understand and make a good investment on a business. If a Legal Manager handles perfectly its own inversions, clients will surely trust them with their investments.

Fourth Habit: We consider that this habit is one of the most important, the will and ability to help others. Intellectual Property lawyers and firms, such as ours, BR Latin America IP LLC, are created to help and facilitate our client’s life. We are in charge of minorizing their daily tasks regarding Trademarks and Patents, in 18 countries of Latin America.

When a Legal Manager starts working with a client, it is for sure the start of a co-working relationship of trust, communication and team work in order to fulfil the clients expectative and of course take care of the business interest.

All of these habits are the ones that make an Intellectual Property, Legal Manager great at their job and personal life. The idea of helping others to protect their brand, trademark, invention, product, etc. is what motivates them to be excellent, responsible and implacable with their applications.

If you require more information on how to handle and protect the most valuable asset in your company, contact us at: info@brlatina.com