With the ever-growing competitiveness amongst different industries to develop effective business management protocols and strategies, Intellectual Property Asset management holds equal space in this arena. In fact business management compliments IP asset management in a way that both appears to be two sides of the same coin. Today most of the businesses across the globe understand the importance of effective IP asset management and IP monetization through royalties, licenses etc. In a nutshell, IP asset management covers various areas like IP docketing, Patent management, Invention disclosure management, IP due diligence, IP auditing, IP portfolio management , IP compliance management, and the list goes on. The crux of the matter is that no industry player wants to lag in the race of monetization. It is quite often seen that the technology-based companies comes out with umpteen inventions, which in turn replicate into to as many patents and trademarks. With a big list of Intellectual Property Portfolio , at times it becomes cumbersome to manage litigation details, licenses, royalties, cost estimations, maintenance reviews etc.
To align your IP portfolio in a fair manner and to gain returns on your R&D investment, you definitely require an efficient IP asset management service. There are many IP management firms which are dedicated in providing your patent portfolio , a definite shape. Apart from that, there are many IP management software and SaaS ( Software as a Service) based applications, which provide real time support for effective IP asset management. For e.g. Anaqua, Thomson IP manager, Decipher and Lecorpio are all software or SaaS based applications which offer browser based IP asset management solutions. Therefore, industries based in any sector can enjoy the benefits of a well-coordinated IP asset management and thereby enhancing the overall business portfolio and business benefits.To conclude, it is very obvious that IP asset management is a perfect combo of business and IP going hand in hand.
( Image by Svilen Milev)
