With hundreds of jurisdictions across the globe - each with its own complex legal regulations - IP management is more challenging and complex than ever. There are multiple people involved in the filing lifecycle, communicating and invoicing in different ways A global network of experts is required to deal with local patent offices including language professionals to interpret and translate applications, and local agents to successfully process them. The process relies on reams of complicated documentation being completed and the manual coordination of numerous global IP stakeholders. Surely there is a better way?
New technologies, new opportunities
The last decade has seen a number of significant technological advancements such as cloud computing and big data management. Each can significantly streamline an individual filing process but, when combined, offers the opportunity to transform global applications.
The growth of secure cloud computing has dramatically improved the ability to carry out complex computational processes simply, at a fraction of the cost, and with the scalability to add IP stakeholders at every stage of the filings process.
Cloud computing is enhanced by the availability of large data sets, such as competitor patent activity, that can be applied to IP tasks to drive insight and transparency. This transforms the speed at which innovators can assess whether their ideas are patentable, and how they can get optimal protection. Combined with machine learning – an incredibly quick and effective means to analyse large volumes of data to identify trends or eradicate errors – data can enable IP professionals to make the right decisions at the right time.
The most advanced IP operations are already deploying these technologies to generate deep insight from patent data, including (but not limited to) competitor filing activity, industry trends, and the cost of filing versus value. CPA Global FILE, the latest app in The IP Platform, takes advantage of these technologies to dramatically improve the way customers and foreign agents communicate across the globe, offering a unified and connected view of all global IP rights information, workflows and tasks.
The future of filings
Technology should look to enhance existing networks by delivering improved workflows and processes that can be adopted by established agent networks for the mutual benefit of every party.
Filing solutions need to enhance the specific roles of the stakeholders in IP protection. Technology that keeps stakeholders more effectively in control, giving them oversight of the latest developments across multiple jurisdictions, will help save time and improve visibility, speeding up responses to issues. If each individual involved has increased visibility or is able to reduce administrative time, the overall saving will be transformational.
Technology should empower IP professionals to realise the value of their ideas, reduce administration and enhance collaboration. This in turn frees up IP professionals to achieve excellence in their roles. The tools available to IP professionals now, and in the near future, will enable them to occupy a more prominent role, helping to drive strategic decision making based on newly available insight from IP data and transformative technologies.
Meet with our IP gurus at INTA to learn more and schedule a live demo here.