As an in-house counsel, patent maintenance fee strategy is a crucial aspect of the role. Careful consideration must be given to decisions about which patents to maintain and when to pay maintenance fees, as they can greatly impact the value of the portfolio. To ensure that informed decisions are made, various tools are utilized by in-house counsel in the management of their patent portfolios.
One tool that is commonly used is a competitor benchmarking analytics report. These reports provide an in-depth view of the historical maintenance fee payments of competitors in a particular industry. The information gathered from these reports can give in-house counsel a clear understanding of the typical amounts and timing of maintenance fees, enabling them to compare their fees with those of their competitors. This comparison can lead to the identification of opportunities for cost savings or strategic investments, providing an advantage to the company.
Another tool that can be utilized is a lapsed patent analytics report. This type of report highlights patents or technology areas where maintenance fees have not been paid, bringing attention to lapsed patents and the potential loss of patent protection. The report provides an in-depth view of the status of each patent, allowing in-house counsel to make informed decisions about which patents to maintain and which to let expire. This information also helps in-house counsel prioritize spending and protect their company’s patent rights, ensuring that their portfolio remains strong and valuable.
Through the use of these tools, in-house counsel are able to take control of their patent maintenance fee strategy and make confident decisions to maximize the value of their company’s patent portfolio. The effective management of patent portfolios is essential for in-house counsel and various solutions are available to assist in this endeavor.
Download a free maintenance fee benchmarking report on your company and your competitors to see the trends in maintenance fee payments. The free report is only available if you are a company in the Patent 300®.
Check out the sample report for IBM below!
Sample Maintenance Fee Benchmarking Report for IBM:
Gain up-to-date insight into how your outside counsel are performing! This report provides a detailed analysis of 30+ prosecution metrics that will help you make the tough decisions necessary to manage your patent practice.
Effortlessly compare your portfolio to competitors. See how you stack against the competition and identify target areas for improved strategy.
Stay current on where your company and your competitors stand in a specific technology area, enabling you to make more intelligent decisions regarding portfolio management.
Stay ahead of the competition by learning more about your company’s patent portfolio and gain insight that will help you make strategic business decisions. Request a detailed analytics report on your company today!
Concerned about costs? Understand exactly where your budget is being spent during prosecution and maintenance in order to identify problem areas, reduce costs, and spend your budget more efficiently on what matters most.
Developed at Harrity, Patentprufer.com is the world’s first community-based, decision-making tool for patent prosecution. Patentprufer provides you with decision-making patent analytics to assist in making decisions at every stage of patent prosecution. Use Patentprufer to leverage valuable information that other users have gained from first-hand experience working with patent examiners. Patentprufer provides you with fast and convenient decision-making analytics to help you cut your patent prosecution costs.
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