At CPA Global we believe that technology should empower users to do more, not control what they do. Whilst many industries have been transformed by technology, the world of IP has, to a certain extent, struggled to use technology for transformation – something that we wish to change!
We recently conducted a survey around the future of IP technology with our customers and the wider IP community to better understand the importance of technology and the role it needs to play to empower IP professionals.
Our research spanned a global audience of small and large corporations and law firms, and highlighted just how important technology is to IP professionals. 75% of respondents felt that IP technology was important to their business with 69% believing that, in the future, it would be more so.
But it also demonstrated that the industry has yet to embrace technology. Almost two thirds of respondents felt that IP technology could be more innovative than it is and half of all respondents saw their companies as ready to be early adopters of new technology.
When asked to consider the top three technology trends that will impact IP management, respondents strongly endorsed the requirement for:
- Automation of processes using technology to simplify and speed up what are otherwise time consuming tasks
- Speed and flexibility to find the exact information required more quickly and effectively for decision support
- Improved user friendliness around technology driving more intuitive interfaces and experiences
The IP technology of the future will need to combine usability, improved integration and data collection and speed to deliver optimal functionality to IP professionals. This is no simple task. Technology needs to potentially connect hundreds of agent firms, across more than 200 different IP jurisdictions. Furthermore, the World Intellectual Property Organisation (WIPO) believes that 25% of the patent data available on public registers is inaccurate. This can be caused by something as simple as a mis-spelling on a patent application. During the lifetime of a patent, ownership can change hands or companies change names, causing further confusion over IP ownership.
The IP Platform
The research findings support our IP Platform, which was launched at the ‘Sounds of the Future’ software summit in Nashville. The platform was designed to be transformational – one platform for all relevant IP practices and disciplines, with connectivity that delivers an improved user experience and access to relevant information at the touch of a button.
Creating a platform that delivers such a significant promise has been a priority, with our CEO, Simon Webster commenting “IP protection has played a central role in the innovation industry for centuries now, yet the industry itself is yet to fully benefit from the disruptive effects of technology.” The DNA of The IP Platform is to completely rethink the role of technology in IP management – less an evolution of current services, more a revolution to rethink what technology can achieve – driven by the needs and demands of the most important constituency – IP professionals themselves.