Creating and maintaining a high-value IP portfolio is expensive and time-consuming. Most companies have outsourced IP prosecution work to law firms, with the in-house IP team focusing mainly on managing the portfolio. In a surprising number of organizations, an Excel spreadsheet is still the tool of choice to accomplish this task. We would not put in doubt that Excel is a flexible and useful piece of software, but it has a few fundamental limitations that make it largely inadequate as an IP management tool.
First and foremost, Excel is a spreadsheet, not a database or a reporting solution. Second, Excel is not connected in real time with the patent office databases, so all data has to be entered and updated manually. Third, Excel is a single-user application and provides no meaningful way for sharing information in real time with a number of other individuals.
Our new white paper takes a closer look at these issues.
Evolution of IP Management Software
We discuss traditional alternatives such as relying on outside counsel for IP reporting, docketing systems, and enterprise IP management systems. We introduce you to the AppExchange, the Enterprise Cloud Computing marketplace that hosts close to 2,000 business applications built on the Force.com platform. Many of these are described in the customer reviews as the magic bullet for which people have been searching for years.
Whether the task at hand is contract management, project management, risk management, or – you guessed it – intellectual property management, the AppExchange is home to solutions that are much more powerful than the spreadsheet used so far, yet much more affordable and easier to get started than traditional enterprise software.
Interested? Go ahead and download the full White Paper from our library!