You have just been recruited as the business developer at the law firm “Big Roar” and to impress your new boss you want to immediately put together a strategy based on the knowledge the firm has produced and continuously produces. The firm is actually only 5 experienced lawyers with different cultural and language backgrounds who want to make a difference in a conservative world. The group is focused on helping foreign clients who don’t understand Thai but are struggling with Thai authorities and companies. It’s a tough business and your new colleagues are open to all new ideas that would help them make money
through other ways than directly exploiting the clients. You have made an initial intellectual asset assessment and found some things that could prove valuable.
Because of the language issue the individuals at the firm have made unofficial translations of Thai official legal documents, including laws.
The team has also over the years created a substantial number of contracts adapted to the Thai legal environment but in 20 different languages.
The idea is to license these, both translations and contracts, to other law firms. How strong will the IP portfolio be? Please explain strengths and weaknesses and give advice on what could be done in order to create a good licensing platform. Your boss is also worried that some people might leave the firm. What can they take along and can this be avoided?