Unlocking success: Optimizing the IP lifecycle from concept to commercialization
6 mins
In the competitive landscape of intellectual property (IP), staying ahead of the curve is paramount for IP owners. However, the road from a nascent idea to a monetized asset is paved with complexity.
By selecting the right tools, services and methodologies, it is possible to significantly reduce the complexity, cost and administrative burden of managing the IP lifecycle. Here we will explore methods for streamlining and optimizing the way you approach intellectual property management, from R&D to ongoing patent protection.
Innovation stage: Using IP research to shape R&D strategy
Internal factors such as organizational goals and budgets are, of course, key to shaping your R&D strategy. But understanding the wider landscape is equally vital in ensuring you are channelling your efforts effectively.
Such insights can be gained through targeted intellectual property research. Some companies conduct their own research, but often a specialist third-party provider will be equipped with the resources to rapidly pinpoint the information you need. The appropriate focus and methodology of this research will depend on your business’s unique priorities, risks and opportunities, but may include:
- IP monitoring to provide insights into where your competitors are innovating. This involves tracking new patents and designs in your field and pinpointing emerging technological trends.
- A landscape search to help you assess market opportunities by uncovering areas of high or low activity.
- Freedom-to-operate (FTO) research to help you avoid IP infringement disputes further down the line, and ensure you are making a sound investment in your product.
- A novelty/patentability search to help you determine whether an idea is likely to be patentable early in the invention process.
Providers vary in their approaches, but at RWS, these studies are performed by graduate and post-graduate scientists and engineers with an average of 15 years of IP experience. Your reports are then delivered via AOP Connect, our collaborative research platform.
Having a platform that allows you to store, annotate, share and tag your results means you can start to form a lasting repository of useful data for future use.
Foreign filing stage: Protecting your ideas globally
Once your patent is filed locally, the next stage is to protect your innovation abroad. A specialist provider can help you navigate the complexities of patent filing across multiple jurisdictions, time zones and languages. Here are some criteria to consider when searching for the right provider:
- Translator expertise. A single mistranslated word in a patent can have serious consequences, including potential loss of protection. A patent translator should therefore have significant knowledge around the language of patents, as well as a deep understanding of the subject matter, ideally including advanced educational qualifications.
- Use of technology. Appropriate use of specialist filing and translation software can significantly speed up the process. Being able to order translations, file instructions and get cost estimates online will minimize administrative work and reduce the risk of delays and errors.
- Use of machine translation. Machine translation – if properly trained to handle patents – can improve quality and efficiency within the patent filing process. However, it must be combined with close oversight by an experienced translator who can refine the results, addressing nuances that the machine may miss.
- Access to a reliable agent network. When filing internationally, you will need to work with patent attorneys in your target jurisdictions. Communicating across various jurisdictions, languages and time zones – and handling multiple invoices in a range of currencies – is time-consuming. Partnering with an IP service provider that has its own established network is therefore an advantage.
Ongoing patent maintenance
Once filed, your patents require ongoing maintenance through timely renewals and recordals. When managing renewals, there are a number of common pitfalls to be aware of, such as:
- Providing incomplete or inaccurate documentation
- Failure to comply with specific requirements mandated by different patent offices
- Dependency on manual systems instead of automated systems or professional services for tracking deadlines
These issues can increase the likelihood of delays, missed deadlines and rejections. Navigating the complexities can also be time consuming, distracting you from more profitable strategic tasks. A reliable renewal service provider will have the expertise to avoid these pitfalls and ensure the seamless protection of your IP.
Monetization: Building lasting assets from your patent portfolio
With your patent protection granted, it’s time to reap the benefits. Careful research will help you identify the most fruitful opportunities to realize the commercial potential of your IP portfolio. This may include:
- Evidence of use searches to identify the value of your patents by assessing how widely the patented technology is adopted, and which industries or companies may benefit from the invention.
- Identifying licensing opportunities and potential joint venture partners. Researchers will also seek out entities that are potentially infringing on your patents to ensure you are not missing out on licensing revenue.
Our patent monetization services can be performed by in-house analysts – or by our global crowd of over 40,000 researchers. Because crowd researchers are compensated based on the results they produce, you could have dozens, even hundreds of researchers working on your project without compromising your budget. One client recently recouped millions of dollars in licensing revenues by identifying unauthorized usage of their patented technology through a CrowdSearch.
At RWS, we understand the IP landscape and can provide broad solutions to save you the costs and risks associated with using multiple vendors. The quality and security of our services are guaranteed by our ISO standards (9001, 17100, 27001, 13485 and 14001) and the expertise of our people, while our world-leading technology simplifies normally complex procedures.
We believe in the power of Genuine Intelligence – the seamless blend of human expertise and cutting-edge technology such as AI. By combining the insight and experience of our specialists with innovative tools, we deliver IP solutions that are efficient, accurate and relevant.
Get in touch to start optimizing your IP lifecycle.
Neil Dagger
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