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Field Fisher Waterhouse's intellectual property (IP) practice is teaming up with its tax group to launch a direct attack on the big four accountancy firms. By combining the firm's IP expertise with its transfer pricing knowledge, Field Fisher hopes to offer what it terms "the most comprehensive asset management service in the City". Brands, technology, me-dia and telecommunications head Mark Abell said: "We've concluded that the days of the traditional IP are numbered. Our tax lawyers are now an integral part of our IP practice. We're taking on the big four accountancy firms face-to-face in this area that has traditionally been their preserve." The teams aim to release some of the extra value in their IP rights (IPR) portfolios by recycling them in a tax efficient manner, devising and implementing transfer pricing strategies and conducting IPR valuations. Abell claims that these methods could save clients around £1m a month.