Adopting Automated IP Management – Act before the deadline

by PracticeLeague

Considering the remarkable efficiency and productivity improvements possible with IP management solutions, there can be no viable excuse for either corporate or law firm IP attorneys not to adopt such systems.

Companies invest a lot of money in developing products, processes, platforms and peripherals. Sometimes IP is the largest, of a company’s capital value through which they seek profitability and competitive advantage.
In today’s economy, companies face more IP risks today than ever before. There are ever increasing numbers of competitors and patents and organizations looking for opportunities to monetize them.
Due to the emergence of information and communication technologies, namely the Internet, protecting intellectual property has become more challenging. As a consequence, many companies are in danger of becoming commodity businesses, or worse because of IP weaknesses and associated risks.
Traditional Intellectual Property management, whether it is performed by independent patent lawyers or the in house legal department of the company, focus on to record-keeping and docketing –managing cases, deadlines and other formalities. In a lot of companies these functions are performed manually. Some companies rely on spreadsheets, memory and brainpower, or a makeshift solution that is anything but efficient and intuitive. Their administrative staff ends up spending a lot of time and energy on manual data entry and database housekeeping.
However, this approach to IP management is inadequate in today’s business environment. Today, organizations leveraging their Intellectual Property (IP) face the challenge of shifting from litigation to managing IP and enhancing its value across the IP life cycle.
Managing IP has to become an ongoing task which lasts throughout the life of the IP that include IP identification, valuation, infringement analysis, to change management, auditing, and licensing.
IP managers need to not only portfolios, licenses and infringements, they also need to set budgets, track costs and control of the flow of work through the department so they can track and improve efficiency.
When a company views its patents as assets, those responsible for managing Corporate assets must be able to readily access relevant information and act.
Such an approach to IP management involves putting in place and sustaining and driving best practices and procedures to ensure management of the entire IP management life-cycle. Only such an approach will extract the full value of IP and deliver strategic advantage to the company from its IP assets.
The solution to implementing such an approach is to leverage information technology to automate, manage and optimize IP, compliance and billing processes, individually or "end to end" across the extended enterprise.

Such a solution would:
PracticeLeague IP Solution – IP Management Reinvented

Automate Help you manage Improve/Increase
Bullet A central repository for all your IP assets including patents, trademarks, designs, copyrights Bullet Mange central Clients Bullet Complete visibility to information - Information to the Right People at the Right Time
Bullet Fully automate all IP management processes Including Portfolio Management, Matter management, Application preparation, client communication, docketing, filing, annuity, Office fee calculations and Invoicing Bullet Mange and Analyze Portfolios Bullet Improved Interactions, Collaboration with clients and outside counsels.
Bullet A platform for workflow automation, portfolio management and reporting Bullet All IP Assets (Patent, Trademark, Design and Copyrights) Bullet Improved Control over processes and documents
Bullet Automated Document /form generation Bullet Docketing/Filing/Applications of all types including domestic and foreign. Bullet Increased efficiency/ Performance
Bullet Email Integration Bullet Manage Deadlines Easily through deadline configurator and automated alerts Bullet Reduced administrative overhead
Bullet Configurable Notifications/ Alerts Bullet Manage Reference/Citations to other cases/information Bullet Improve budget planning and forecast
Bullet Configurable Notifications/ Alerts Bullet Customizable Workflows to suit your organization Bullet Manage/Improve institutional knowledge
Bullet Manage Client Communications and instructions Bullet Improved control over processes
Bullet Provide access to clients to their portfolio Bullet Improved financial tracking
Bullet Manage Scanned Documents for quick and easy reference
Bullet Automated Invoicing including your fees, disbursement and office fees.
Bullet Annuity Renewal, Reviews, Approvals

About PracticeLeague

It’s time for something better.
Law firms want solutions that can automate and the IP management process, solution that is efficient, cost saving and intuitive, corporate want complete visibility to their portfolios, don’t want to miss any deadlines and minimize spends. An automated IP management solution fulfils both purposes. With the remarkable efficiencies and improvements over traditional paper-based IP management systems more and more evident, there is no reason for IP law firms not to adopt an automated IP management systems.
PracticeLeague offers cloud based secure, Ready-To-Use, Pay-As-You-Go Intellectual Property Management solutions to assist Law firms and corporate legal departments to manage their Intellectual property and maximizing its value.

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