As more corporations recognize the true business value of intellectual property (IP), the task of managing IP is becoming more complex. Many IP professionals recognize that traditional approaches to managing and protecting IP assets are no longer adequate.
At Clarivate™, we believe that a new, unified approach to IP management is needed—one that brings together data, cutting-edge technologies and human expertise in ways that remove friction, reduce costs and improve collaboration. You can learn all about our unified IP management strategy in our new paper, IP Lifecycle Management: Empowering corporate IP professionals with a connected ecosystem.
The cost of legacy IP management
Today, we see too many IP departments that rely on disparate systems and disconnected processes. This is not only inefficient, but accrues real costs. These range from the cost of maintaining and supporting legacy systems to process inefficiencies and errors, commercial risk and the opportunity cost of missing critical insights. Our analysis has shown that these inefficiencies and risk factors could add up to a total cost of $123 million over a five-year period.
Optimizing IP management can have a significant positive economic impact by modernizing systems, minimizing inefficiencies and reducing commercial risks through improved patent and trademark strategies.
Together, these improvements can save $37 million over a five-year period.
The power of unified IP lifecycle management
Clarivate IP Lifecycle Management solutions enable organizations to transform IP management with a unified approach that combines expert IP services, leading IP management software and IP intelligence and analytics encompassing the full IP lifecycle—from discovery to protection to commercialization. Our approach offers a number of valuable advantages:
- A single source of truth, with data shared across the IP lifecycle, eliminating manual entry and redundant processes and improving speed and accuracy
- Connected workflows, streamlining disparate tasks and facilitating improved collaboration
- Automated efficiency, saving time and effort with automation that frees corporate IP staff from repetitive tasks
- Actionable insights, combining customer data with a universe of industry-leading IP data and analytics to reveal insights that improve and accelerate decision-making
- Continuous enhancement, with platform capabilities delivered via a software-as-a-service (SaaS) model, simplifying implementation and enabling users to access new capabilities immediately
The result is a connected ecosystem that benefits from data sources unavailable from any other provider, global best practices gained from decades of experience and innovative technology that provides seamless connectivity across solutions, datasets and stakeholders.
Getting started on the road to transformation
When aligned with your organization’s business strategy, this unified, full-lifecycle approach can transform IP management into a strategic asset.
A good first step in that transformation is having a trusted partner assess your IP operations to chart a course forward. At Clarivate, we undertake a comprehensive, best-practice analysis of your IP operations to identify opportunities to improve efficiency and optimize the use of IP technology and services, developing a clear roadmap for modernization.
By tapping into our unique combination of strengths, IP professionals can access a unified IP lifecycle management solution to inform critical decisions with greater speed and agility, while maximizing operational efficiency and effectiveness. That’s something every IP department could benefit from in today’s complex environment.
To get the full story, make sure to read our new paper, IP Lifecycle Management: Empowering corporate IP professionals with a connected ecosystem.
Interested in scheduling an IP diagnostic for your IP management processes? Contact us today.