Proper management of an intellectual property portfolio is a time-consuming, but essential task.
Failure to pay renewal fees or to take early action to stop abuse of your Intellectual Property rights by third parties can result in dilution or loss of your rights. An IP management strategy is vitally important.
Our attorneys have advised many hundreds of clients on appropriate IP management strategies and can help you to set up your own internal systems. Alternatively, you can let us take care of it. We have systems in place to provide budgeted lists of rights, renewal costs and ongoing prosecution costs. We can help analyse which rights are producing the best return for your business so that, if necessary, you can redistribute costs and refocus your IP budget on more valuable areas. This should be an ongoing process to maintain an efficient IP strategy.
But more than simply managing existing rights, we also help clients to ensure that new IP being created is captured and turned into enforceable assets. Often this starts with an IP Audit. The results can be used to create the proper channels for harvesting inventions, the right policies for incentivising employees and ensure that key IP is retained in-house. This feeds back into the business to foster a culture of innovation.
Often a short consultation with our attorneys can produce valuable results which far outweigh the cost of the consultation. Many of our people have worked in industry in the IP field or in research before becoming patent or trade mark attorneys. That, alongside our core focus on engagement with our clients, means that our attorneys are unusually well placed to understand your business, your budgetary constraints and your performance metrics.