Want your patent renewals to be cost-effective? Consider these tips

IP strategists suggest that having a right strategy in place right from the outset of invention disclosure will help companies cut down their overall patent maintenance costs. With a little planning and preparation, you can learn how to manage your costs and achieve significant savings. Established companies, regardless of their assets or market values, look for every possible way to reduce direct and indirect costs. Patent renewal is one area where innovative companies hunt for opportunities to reduce the maintenance costs as much as possible. Anyone familiar with patent renewals would know how painful a process it can be and

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Increasing Patent Allowance Rate Using an Optimized Invention Management Solution

Huge sums of time and money are invested to support ongoing research and development efforts globally, particularly in the most innovative industries like pharma, healthcare and biotechnology. The global R&D spending [1] is at a record high of US$1.7 trillion of which 80% of total spending is only from the Top 10 countries. While these statistics may suggest increased intensity of companies in R&D spending, we should also understand that these efforts will only yield returns when they are awarded enforceable ownership through exclusive patent rights. Intellectual property rights, especially patents, help companies protect their business interests by allowing them to

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5 Ways Symphony Can Help Your Company Attract and Maintain Top-Tier Inventors

“An enterprise that is constantly exploring new horizons is likely to have a competitive advantage in attracting and retaining talent.”  Gary P. Hamel Management Expert Founder of Strategos The world is trending toward automation, and intellectual property (IP) management is no exception. Symphony is designed to streamline IP lifecycle management processes to reduce costs, improve efficiency, and eliminate administrative errors. If your company has an extensive IP portfolio, Symphony not only will reduce your overhead and simplify portfolio management, but it will also help attract top-tier inventors who understand the value of working with an organized, reliable enterprise. Let’s explore

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Tips from Experts: For Better IDS Management

  Eliminate Unnecessary Cost: 1. Review the materiality to the patentability of existing claims: It is important to review the reference for materiality to the patentability of existing claims by the attorneys/applicant before the submission. Also, perform a good prior-art or pre-filing search to identify all the relevant references and cite them, which can avoid RCE fee at the notice of allowance stage. 2. File the IDS within the first three months: An IDS can be filed at no extra cost within 3 months from the filing date of a national/original application (other than a continued prosecution application) or before

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Deploy Patent Prosecution Analytics to Accelerate the Product Development Cycle: A Comparative Case Study

Patent prosecution analytics can provide valuable insight into the performance of an organization’s IP operations just as other forms of analytics help in reducing cost, in making better decisions and in creating new products and services. Technology companies who are actively filing patents can achieve cost savings and faster times to grant through prosecution analytics. I will illustrate what I mean by looking at two leading technology companies with different prosecution performance – Cisco and Juniper Network. The patent prosecution analytics can illustrate areas for improvement, how a company compares with direct and indirect competitors, patent prosecution trends, and areas

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MaxVal’s Max-IDS: New Features Make It Easier Than Ever For Your Team To Manage Information Disclosures

Max-IDS is MaxVal’s cloud-based, hosted, Information Disclosure/Reference Management solution.  Max-IDS is much more than a form generator.  Max-IDS stores your references in a centralized database together with information about the cases citing each reference. This promotes consistency, reduces confusion and makes ad-hoc solutions (such as individual spreadsheets) unnecessary. MaxVal is constantly looking for ways to improve Max-IDS.  Based on user feedback, we have recently added the following enhancements to Max-IDS: Reference source comments Reference comparison chart enhancement Case and Group functionality Reference Source Comments Max-IDS helps you keep your references organized.  Reference “Source Comments” are tags users can assign to

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MaxVal’s Max-Insight: Popular Toolset for Patent Professionals Gets Better

Max-Insight is a suite of tools that is offered by MaxVal for patent professionals.  The tools are designed to help with routine tasks that can consume a lot of a patent professional’s time. Patent Term Estimator – The Most Popular Tool This free tool automatically estimates a patent’s expiration date, which is the first step in analyzing a patent. When a highly accurate patent expiration date is required, for example in preparation for litigation or for a licensing negotiation, MaxVal provides a comprehensive Patent Term Calculation report, including a manual review of the source data by a paralegal.  This report

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Transparency is Critical in a Patent Annuity Payment Service

MaxVal Annuity Payer was launched in 2014 with the goal of providing complete transparency on annuity payment fees, as well as simplified workflow and excellent service. Pricing transparency is an important issue for customers. Things get complicated when negotiated fees are combined with currency exchange and foreign agent fees. Misunderstandings over fee amounts can easily occur. These misunderstandings can spill over into the courts. MaxVal Annuity Payer provides comprehensive status updates and pricing transparency on all renewals, using a simple, easy to use web portal. MaxVal’s simple and transparent flat fee structure (which is highly competitive) aims to take the uncertainty

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