Hybrid IP Portfolio Management: Maximise efficiency / Minimise costs
This article, written by both Zacco and MIP, was published in a slightly abridged format on the Managing IP Website on Wednesday 3rd May.
Join MIP and Zacco at 15:00 CEST on Thursday 15th June as they explore some of the reasons why companies are increasingly adopting a hybrid IP portfolio management model, both as a means to improve quality and in response to an increasingly uncertain economic outlook. Following the event, the webinar will be available for download via a link at the bottom of the page.
Register here for MIP and Zacco’s webinar on how organisations can improve the quality, efficiency and reach of their IP portfolio, often reducing management costs and without compromising on the integrity or protection of their IP rights.
IP rights form an integral part of an organisation’s ability to operate domestically and to enter new markets. Whether it is the value of patents, and being able to sell a product or provide a service that cannot be matched by others, or the value represented by an established brand that can be protected by trademarks, IP rights continue to be the lifeblood of industry and services and can be a key differentiator during times of economic uncertainty.
Why could growth become a problem?
As the size of an IP portfolio grows, it becomes significantly more time consuming and expensive to maintain, particularly when it crosses international borders. Costs accumulate further when your in-house team are spending their time on administrative tasks, and the maintenance of existing rights, when it could be put to better use focusing on the development and protection of new ideas and innovations.
Alternatively, the cost of losing rights through failure to maintain them could be catastrophic, so it becomes a question of balance. Finding the right combination of maintenance and development can be a tough exercise in prioritisation, so what options are available to companies looking to grow their IP portfolio without risking their current rights.
How can growth be prioritised without impacting performance?
An increasing number of companies are finding value in adopting a hybrid IP portfolio management model. This differs from a fully outsourced portfolio management model in that the services offered are fitted to suit the individual needs of each IP portfolio but this means that choosing the right services, and the right partner, are integral to success.
Such a model can effectively remove the need for in-house resources to perform some of the more time-consuming tasks such as renewals, validation or invoice management. Depending on your IP partner, some providers are also able to ‘insource’ a paralegal or attorney who can assist during times of high workload.
The types of services available can be designed to suit any budget and any portfolio size. A good IP Service provider will be able to provide relevant expertise, improve the integrity and the security of your IP rights, and reducing the need for up to the minute knowledge of changing legislation across global markets. The right partner will improve the quality of your portfolio and can often be a more cost effective solution than maintaining the same level of expertise in-house, but what does the right partner look like? That depends on the needs of your portfolio.
What areas should be prioritised when considering a potential IP services partner?
- Deciding which services should be managed in-house or externally;
- Identifying which parts of the portfolio or which markets could be handled by a partner;
- Why choosing the right partner can actually improve the quality of your portfolio;
- Calculating pricing models based on service delivery;
- How to assess a provider’s quality assurance, data security and transparency.
- Assessing an IP partner’s expertise and local regulatory knowledge in key markets; and
- The benefits and pitfalls of manual versus automated processes.
Zacco’s Karin Kärvling Søholt, Director of Strategic Alliances, Betina Hellemann, Director of IP Services and Quality, and Agatha Bergman, Relationship Manager, will be joined by Phil Myers, Commercial Editor at Managing IP, as they explore how your business could benefit from a new approach to IP management and offer some insight into what questions you should be asking at the first stage of any IP Service partnering discussions.
Join us for the webinar on Thursday 15th June at 15:00 CEST (09:00 EDT, 14:00 BST, 17:00 GST or 18:30 IST). Register here.
You can find the abridged version of this article on the Managing IP website here.
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