With the advent of the Industrial revolution 4.0, Corporate IP departments have been proactive in upgrading their IP practices to stay ahead of the competition. While many corporations are struggling to align themselves with the changes, a handful of them (Fortune 100 companies) are adapting to the changes by adding newer practices for patenting novel technologies and managing their portfolios.

While working alongside Fortune 100 companies, Sagacious IP has identified challenges pertaining to:

• Patenting latest technologies (e.g., AI, IoT, etc.),
• Managing IP portfolios with shrinking budgets
• Predicting business trends, opportunities and threats

In order to resolve these issues facing the IP departments, Sagacious IP has prepared an ultimate guide encompassing some of the global best IP practices to ensure a smooth sailing for IP practitioners.

1. Patenting Latest Technologies (IP practices) in Post-Alice Era

Fact

The rate of business method and software patents receiving an Alice rejection is well over 70% and the odds of convincing an examiner to withdraw their Alice rejection are low.

Adopting some of the best IP practices can ensure not only a significant improvement in the value and time, but also the cost of patenting the technologies. A concrete statement defining the specific technological problem, including a technical inventive concept, focusing on more technical drawings are some of the practices that hasten the patenting process in the Post Alice era.

2. Portfolio Management in Shrinking IP Practices Budgets Era

Fact

Almost 25% of the patents are valuable but remain ignored as they are non-core to the business of the owners.

Many organizations still lack expertise or desired resources to efficiently execute their portfolio management programs. Even the most IP-savvy organizations involve third parties for objective validation, despite being equipped with in-house resources. Therefore, to ensure that organizations have a great patent portfolio management in place, they should opt for customized approaches for their specific business objectives. These approaches include monetizing patents at low budgets, monetizing patents in new market areas, amongst others.

3. Utilizing Information Beyond Patents for Holistic Contribution to Business Strategy

Fact

IP departments in almost 55% of the companies struggle to stay relevant to business. They want to contribute directly to business strategy.

Relying only on the patent information is challenging for an IP practitioner to get a complete picture of the domain. Hence, it is essential to identify novel approaches to cope with the current ecosystem and meet both IP & non-IP objectives of an organization. One such approach – the Landscape Analysis (or Landscape report), which consists of information and not just data. It is considered one of the best industry practices globally.

Adopting one or all of these best practices will ensure that your organization navigates the IP challenges facing your organization. But that’s not all! As a bonus, the guide offers domain-specific case studies that help in having an in-depth understanding through real-life applications. It also gauges the effectiveness of the said practices

Click here to download the guide now and get a head start over others.

– Dhananjay Das [ICT Sales (IP Strategy and Solutions)], Abhinav Mahajan (ICT Licensing), Sumit Prasad (Technology and Innovation) , and The Editorial Team