Something big is about to happen
Expectations of the IP function are evolving
US Patent Trends
Two out of five US patent applications never get granted.
As IP moves up the corporate agenda, Chief IP Counsels are challenged to restructure to stay efficient and compliant. With only 60% of patents filed being granted, it is estimated that over $2 billion are wasted in patent filing per year in the US alone. The changing regulation landscape adds to the complexity of managing IP matters efficiently. It is now the turn of the IP department to transform and Thomson Reuters is ready to assist clients with their transformation journey.
Global IP Outsourcing 2016 - The State of Play
IP Outsourcing Survey Finds Volume & Variety of Work Poised to Spike
The first global IP outsourcing survey, which took the pulse from 539 global IP attorneys and corporate counsels found a widespread and global embrace of outsourced approach to IP business management. The use of outsourced IP services is evolving as firms have found value farming out lower value and routing tasks to specialist firms. The survey uncovers the challenges and benefits and new trends on how firms are also increasingly outsourcing highly specialized work.
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New imperatives drive transformation
Aligning IP with Business Strategy
IP Leaders are playing a more central role in business strategy – from finding new ways to generate licensing income from existing patents to mitigating the risk of patent litigation from competitors, and tracking opportunities and risk in emerging markets.
Imperative to find new ways to monetize existing Patent Portfolios
Businesses are looking at their IP departments to find new revenue streams from existing patents, instituting new licensing programs and enforcing patents more aggressively.
Doing More with Less
Pressure to do more with fewer resources and rising costs has brought outsourcing on the Chief IP Officer’s agenda.
Acceleration of Innovation Lifecycle
With shorter cycles for innovation, IP departments are influencing the speed of developing and taking new products to market by advising on build or buy and freedom to operate decisions.
Achieving sustainable transformation in a short time is critical
See how Thomson Reuters partners with leading organizations to transform their IP Operations
Meet the Experts
Richard Kolar, IP Solutions Consultant discusses the new imperatives for corporate IP departments and law firms to transform
Hemant Khanna, IP Search Services Manager talks about why quality patents matters–and why clients trust Thomson Reuters for their patent search and drafting
Kelly McNulty, IP Administrative Services Manager, addresses how IP functions are transitioning to a virtual environment and the benefits that an extended virtual team can bring to your business
Virtual IP Office–An extension of your in-house IP team
For those tasks that demand IP expertise that can’t be found at traditional offshore outsourcers but don’t warrant super-high partner fee rates, Thomson Reuters provides a third option. Our Virtual IP Office teams are highly qualified, fully trained and work to rigorous procedures founded on Six Sigma methodologies so you can partner with us to reduce costs on expert work with confidence and improve patent quality.
We can support you with:
- Competitive Intelligence: stay on top of competitor patent activity and inform product strategy with regular reports on patents filed in technology areas or by specific competitors, as well as analysis around the latest patent data and periodic technology synopsis reports.
- Patentability Programs: reduce filings and R&D costs and improve patent grant rates with better information for decision support and guidance on drafting of claims.
- Patent Preparation and Prosecution: reduce fees for drafting patent applications or Office Action responses with an extended team that rapidly gets to know your business, the technical environment, and the industry sector you operate in; also access expert patent translators for foreign filings from a central services group.
- IP Administration Support: better manage the workload, mitigate the risk of data entry errors and reduce the risk of unintentionally dropping patents, with regular validation of the data in your IP asset management system against patent data and dates from Thomson Innovation and on PTO websites.
- IP Due Diligence: get deals done faster with an enhanced IP administration team to undertake due diligence on patent portfolios identified for out-licensing or acquisition.