One of the main issues encountered by Chief Legal Officer (CLO) and Intellectual Property (IP) Executives is managing global Patent portfolio, tracking IP filing costs, patent prosecution management, patents monitoring , IP budget and forecasting, IP License management, Royalties Management and plugging in IP License Revenue leakages - on an end-to-end basis. Often, they need to provision multiple applications from different vendors leading to more license & operational costs as well as operational inefficiencies.
VajraSoft Inc.'s IPMation Application Suite provides end-to-end automation in IP realm . Starting with the Case Management wherein potential inventors submit their proposed inventions to patent review committee, to Patent filing, through patent prosecution, grant and patent renewals management. Also, often IP executives need to plan ahead of time and estimating the IP filing costs for optimization and reducing costs. By leveraging VajraSoft Inc. IP Cost-O-MeterTM executives can now track Global IP Cost Estimation and also manage IP Budgets accurately.
From a IP Executive perspective, different things need to be accomplished to manage his / her IP business operations tactically and in operationally efficient (repeatable and consistent) manner. The image below summarizes the key features of IPMation Application Suite.
IPWayzTM - Enterprise Edition
IPWayzTM - Enterprise Edition - Patent Portfolio Management System is Integrated IP Management Software for large corporations. Key components,features of IPWayz - Enterprise Edition - Patent Portfolio Management System include:
Global Patent Portfolio Management
Building a global patent portfolio is a precusor to achieve the goal of obtaining value from patent portfolio. IP Managers can easily identfy high value patents and formulate monetization strategies while under assessing low value IP assets. IP Assets Strategic Management is the core objective of IPMation Application Suite.
Drafting & Filing Patent Applications
A properly drafted patent application takes into account several factors – technical breadth, legal strategy, as well as conformance with the rules and regulations in U.S. statutory law, guidelines issued by the United States Patent and Trademark Office (USPTO). Now with First-to-file system in affect in US, it makes all the more sense to file your patent application as early and thoroughly as possible.One thing to keep in mind is – what is the ultimate goal for drafting and filing a patent? – It is to make patent valuable, enforceable and defensible. That said, how do you go about achieving this? – Address the following items:Determine which area/field are you applying the patent for? – One of the key aspects to focus is on the construction of the claims; This a key aspect to success (as to why you want to patent in first place). Also, this will preempt from potential litigations. So, get it right.
Literature of Interest and Non-literature of Interest
Capture the Literature of Interest with respect to a patent application. A unique feature of IPWayz - Patent Portfolio Management System is that it provisions associating and storing and Non-literature of Interest as well.
Patent Prosecution Management
The application captures all the actions, responses, alerts, notifications, actions taken in patent prosecution phase. Patent prosecution history report provides all the information related patent prosecution stage.
Manage Pre-Grant and Post-grant Oppositions
Alerts, Notifications & Responses - Patent Monitoring - Alerts, Notifications - pro-active monitoring of each patent and its prosecution / renewals makes Paralegal's work easy. The two layers of alerting and notification / response system ensures no deadlines are missed thereby minimizing the risk of oversight.
Patent analytics dashboards and reports include - Pending Action reports, Open invention reports, Patent Application status report, Patent Prosecution History report, List of Inventions, List of Inventors, List of Agents associated with a patent application, Open inventions reports,, List of patents based on country, application type, application status, Case Number, Case Status, Client, Country, Family reference, Parent Number, Publication Date etc.
Global IP Filing Cost Estimation
ensures IP Executives get the cost estimates ahead of time, in the countries they are planned or planned to file patent application. They are now empowered to make quick decisions on filing in one or more countries, aligned with business go-to-market strategy.
IP Budget & Forecasting
Forecast the IP budgets ahead of time as to what it will cost you to maintain the patent portfolio as well as adding new patent applications to the portfolio.
In / Out Licensing - IP License Management
Manage and track all your In / Out Licenses in a single global repository. The licensing metadata provides Legal executives the visibility to expiring license agreements / contracts to take pro-active actions.
Calculate the royalties due on an IP. Based on current licenses, forecast the Royalty Revenue.
Conduct Royalty Audits
IP Licensing consultants can perform License Compliance & Auditing to identify IP license revenue leakages.