What's the story, page-3

https://blog.patentology.com.au/2024/03/large-vs-small-group-ownership-vs.html

Chat gpt summary:

Patent Filings Decline (2023): Australian patent filings fell by 2.4% in 2023. Firms within listed groups (IPH) saw larger declines.

• IPH firms: Spruson & Ferguson (-5.0%), Griffith Hack (-3.6%), AJ Park (-14.9%), Pizzeys (-6.9%)

Firm Size & Filing Growth: Smaller, independent firms generally gained filing share, while larger firms, especially those in listed groups, lost share.

Independent Firms’ Gains:

• Phillips Ormonde Fitzpatrick (+3.1%) and Madderns (+10.3%) were the only top 10 firms to grow.
• Small firms (less than 10 attorneys) gained 11.8% filing share since 2014 and now account for 23% of Australian filings.

New Zealand Impact: Patent filings in New Zealand fell by 8.8%, disproportionately affecting firms with greater exposure to New Zealand, especially AJ Park.

Filing Trends: Firms with higher exposure to US-originating filings, which fell by 6%, experienced larger declines (e.g., Pizzeys, FPA, AJ Park).

Independent Firms' Rise: Independent firms, especially smaller practices, benefited from the decline in large firms' filing shares. FB Rice, now the largest independent firm, has grown to 9.5% of the filing share.

Listed Firms' Struggles: IPH group firms have consistently lost filing share since 2014

Key New Entrants: New firms like RnB IP (2.3% share) and GLMR (1.2% share) have entered the market and contributed to the rise of smaller firms.

QANTM & IPH Market Performance: QANTM's share price is recovering after a potential acquisition proposal, while IPH has seen more steady performance despite losses in filing share.

Conclusion: Client preferences appear to be shifting towards smaller, independent firms, though the reasons are complex, possibly related to costs, service, or dissatisfaction with larger firms.

DYOR.