Intellectual Property (IP) Management Software are used to manage and protect patents, copyrights, trademarks, and other IP.
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Intellectual Property (IP) Management software is used by businesses and IP law firms to manage and protect inventions, patents, copyrights, trademarks, licenses, royalties, brands, and other intellectual property legal rights. It facilitates preparing and conducting IP filings such as patent applications, securing the rights to trademarks, and litigation.
It aids in the identification of violations and infringement cases, using AI to keep pace with a growing volume of digital IP infringements. These tools also support contract renewal, disclosure agreements, and the resolution of IP disputes. They foster collaboration amongst scientists, engineers, researchers, IP teams, business executives, and legal departments. Patent Management Software and Trademark Management Software are parts of Intellectual Property Management Software.
Most IP management products will offer the following features:
IP Portfolio Management
Patent, Trademark and Copyright management
Dockets
Deadlines
Tracking
Renewals
IP Cost Estimation – for the creation, maintenance, and renewal of IP
Publish IP Assets – available for licensing
Disclosure Agreements
Support IP lifecycle
Support legal disputes and enforcement actions
Case Database
Legal Spend Management
Automated Workflows and Communications
Document Management
Billing, Payment Processing
Analytics / Dashboard
Intellectual Property Management Software can be implemented through cloud-based/ SaaS/Web, Mobile, or Desktop platforms.
When purchasing Intellectual Property Management Software consider the following points:
Scope: Does the product support all your company’s various IP assets? Every country has its own set of regulations for establishing and securing IP. Does the product support your IP management needs on a global scale?
Use Case: Some products are better suited to support certain industries. Some are geared toward entertainment, sports, and fashion, others for manufacturing and software. Would your company benefit from that customization?
Most vendors require interested buyers to request quotes for their products. Some products begin at $50 per month per user, ranging up to a couple of hundred dollars per month per user.
Certain products’ pricing is based upon the size of the patent or trademark database. That pricing can range from $.60 to $2.00 per record with the cost per record decreasing as the number of supported records increases. Free trial versions with limited functionality are sometimes available.
The main benefit of using IP management software is that it helps increase the productivity and profitability of the organization. It does this in several ways, including:
These are some popular intellectual property management software products:
