By Melanie Fitzpatrick ‑ April 11, 2019
For companies and individuals managing IP, technology can empower them to generate more value from their investment. IP management software helps streamline IP filing, management and renewals to ensure innovators can monetise ideas.
IP owners still rely on IP departments or law firms to carry out manual admin tasks related to the management of patents and trademarks. This causes IP departments (which are often under resourced) to find themselves increasingly overstretched – tasked with more IP admin, docketing, filings and renewals and ensuring all activity is in accordance with regulations, and is accurate and up to date.
The growth in global IP filings over time has intensified this challenge. WIPO’s Patent Cooperation Treaty (PCT) was created specifically to assist applicants in seeking patent protection internationally for their inventions. The PCT passed a record-breaking quarter-million (253,000) filing mark in 2018 - a 3.9% increase from 2017.
IP management software can automate much of the manual activity associated with IP admin, speeding up and increasing innovation productivity and enabling faster and better decision making. Our latest software update, Memotech 7.5, represents the ultimate IP productivity platform, with new applications designed from the ground up to focus on creating value for business from IP.
Serving more than 10,000 customers and connecting more than 50,000 global IP users every day, we have developed innovative ways for our customers to manage IP more efficiently, minimise risk, and improve decision making in the IP industry. Our software-driven business model supports these processes and we now provide software to three times as many customers as any other IP management provider.
We have a vision of connecting the IP industry with one IP platform that not only provides point solutions for customers but also improves efficiency across the entire industry for the benefit of IP professionals.
It is not easy to consolidate IP services into one unified platform, but after asking our customers what they wanted most from their IP solutions provider, consistent quality was the top priority. We have successfully launched File, Forecast and Renew applications as our first steps to reaching this goal. Our platform is underpinned by a common data layer that gives IP professionals access to better data and insights to make better decisions.
Management software should always help companies - regardless of their size - to make smarter business decisions, gain business effectiveness, reduce operating costs and increase business revenue. With the sheer size of the IP industry, the growth in company globalisation and increase in worldwide IP activity, our vision is to provide leading innovators with a better-connected view of all global innovation with more efficient access to IP rights information, workflows and tasks.