Investment in intellectual property [IP] management software can help the IP sector gain visibility, reduce management costs, increase accuracy and increase productivity. Unfortunately, a large portion of the purchased intellectual property management system has never been fully implemented or does not provide the utilities that customers want.
Here are five most common mistakes when choosing an IP management software:
Error #5: I don't know what you really need in IP management software.
Before choosing a solution, take a moment to understand what you really need. First, determine if you need fully integrated intellectual property asset management software, patent docking software or IP material management software.
Often, this depends on the problem you are trying to solve or the opportunity you are trying to capture, as well as the size and structure of your department. For example, if you have not submitted many patent applications or trademarks, you should first organize the data in a centralized repository. Your core team should be able to access and generate reports.
If your intellectual property portfolio becomes large enough for you to manage and you believe that providing access to inventor communities and law firms can reduce management costs, then you should consider a strong intellectual property management system. This type of system will enable you to streamline processes and increase productivity at lower cost and with fewer resources.
Before delving into the selection process, what is "What are our top five needs?" If these critical needs are not identified, it may be difficult to distinguish suppliers. Many vendors claim to do a lot of things. The supplier's strengths must meet the company's key needs.
Error #4: Do not recognize the uniqueness of your business
Each IP department is unique. If there is no configuration function in the software, it is more prone to failure during software implementation.
While initial licensing and maintenance fees can sometimes be reduced, these hard-coded solutions often result in increased costs due to customization requirements, upgrades, ongoing maintenance, and longer system deployment timeframes. In essence, you may end up reducing and delaying your overall return on investment.
Avoid losing software that limits team capabilities and departmental development. Your software should be able to enhance your business, not hinder it.
By choosing an IP management software solution that fits your business processes, you get better user acceptance, greater efficiency, lower costs and faster return on investment.
Error #3: Does not include key users during the selection process
Surprisingly, many intellectual property departments still choose computer systems without asking meaningful opinions from key users. At the beginning of the selection project, a selected team is formed, including representatives from all affected teams, such as patents, trademarks, flooring, licensing, compliance, and billing. The active participation of key personnel not only helps ensure that all foundations are met, but also makes better decisions and fewer complaints after implementation.
If possible, you should also include a representative of the IT department. IT contacts can help you identify any issues related to deployment, data migration, integration, and security.
Error #2: Evaluating too many vendors:
Avoid suppliers offering "too bad" deals. You may find yourself lacking the basic tools you need to do business after implementation. Many of them Bargaining system It also offers very rigorous solutions that make it difficult to meet the unique needs of inventors, patent commissions and law firms. In addition, you may need to reinvest additional funds for upgrading or, in some cases, replacing your system - reducing or eliminating all the savings you may have experienced initially.
Choose no more than four vendors at the beginning of the search. If you choose more than four, it is often difficult to remember who did what. If none of the first suppliers can meet 80% of the critical needs, fire them and start investigating the other.
Error #1: Long-term non-investment in intellectual property management software
When choosing an IP management software, it is practical to be aware of your expectations and costs. You are investing to improve or improve the process. Therefore, although hard currency is important, the key is to choose the right intellectual property management software. Choose the right partner to provide you with fast and efficient implementation, high return on investment [ROI] and low TCO [total cost of ownership].
Use your intuition and good business judgment when comparing provider costs. Find applications that support your long-term key strategic goals and work within your budget. Now, the hasty decisions of IP management software providers or solutions that benefit the lowest cost may plague you in the future because of hidden costs and delay or eliminate any return on investment for your business.
Some progressive legal departments have implemented better, more predictable processes, increased productivity, and better control of law firms through Lecorpio's IP management software. Lecorpio IP asset management solutions include open disclosure management, patent management [including marketing], trademark management, domain name management, open source management, license management, contract management, standards management, IP transaction management and expense management.
Orignal From: Five Mistakes to Avoid When Choosing Intellectual Property (IP) Management Software
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