Doing more with less is easily said but not as easily done.
This is especially true in how IP professionals manage their department and workload. Whether it’s wringing the most value out of your filing budget, eliminating time-consuming docketing backlogs or fulfilling IDS filings on time, managing an IP practice is full of challenges and pitfalls that create waste and slow you down. Below are a few proven steps you can take to get more out of your team with what you have got… or for less!
- Pursue economies of scale: What outside services do you procure transactionally that could be consolidated and better negotiated through a single provider? Patent research and translations are an area where savings of up to 30 to 40 percent could be easily made through a consolidated approach with a preferred vendor.
- Outsource IDS filing requirements: Gathering IDS requirements is one of the most time consuming, labor-intensive requirements in patent prosecution. Take this task and multiply it by your filing activity and you have a source of backlog, admin burden and extra filing fees. Consider outsourcing to an outside service provider to take on this responsibility. You will save time, money and keep the team’s sanity intact.
- Explore a blended support model: Not all patent applications have the same level of importance or serve the same purpose. However, drafting and prosecuting less strategic patent cases still takes the time of highly skilled, costly resources that may be better utilized in higher value work. Consider alternatives to make the most of your patent budget while maintaining quality filings.
- Remove the burden of locating IP expertise: Finding seasoned IP staff is an ongoing challenge in most markets. Save time, money and energy from the continuous cycle of recruiting and training by leveraging outside resources. Organizations that lean on external specialty service providers often find cost-effective, reliable partners that complement and bring value to their IP workflow and don’t experience gaps in coverage that can create risk to an organization.
- Prepare for the unforeseen: While there is plenty of “business as usual” work in most IP departments, at any moment the unforeseen can happen whether driven by M&A activity, a new client portfolio or a ligation matter. How do you respond to the unexpected and still support every day needs and requirements in a budget-conscious manner? Consider building a support model that serves as an extension of your team with varying disciplines of admin and technical IP expertise that can flex and scale when you need it most, but only when you need it.
Read the full whitepaper now to see the top ten IP department hacks for when you need to achieve more with what you have.