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While various sectors have already jumped on the bandwagon of digitalization, law firms and corporations dealing with intellectual property (IP) are currently one-step away from their leap toward the future. Despite the uncertainty surrounding the impact of digitalization, many U.S. based law firms believe the industry to be on an ascending trajectory. They appreciate and understand the impact of the digitalization trends and the minimum influence it will have on trade secrets and anti-counterfeiting. Many entities in the IP protection arena are already using IP management software (or intellectual asset management software) to handle and protect patent portfolios, and to confer a strategic advantage to IP teams and corporations via research tools and analytics. For law firms that manage designers, artists, inventors, and companies with patented products or services, IP management software helps centralize up-to-date client information, license agreements, and opposition filings in a single repository. The software often integrates with case management tools to streamline the lifecycle of IP procurement and litigation. Some products in this category function solely as patent search engines or filing assistants.
Alternatively, emerging technologies like blockchain, artificial intelligence (AI), big data, and holistic IP software are enhancing IP management tools and establishing themselves as the game changers in the field. Blockchain, for one, helps performance rights organizations that own blanket licenses to collect royalties for their members. Besides, trends like globalization and other alternative means to protect IP are finding popularity among law firms; few corporations are also looking to outsource IP services for better management. AI is another technology that has a profound impact on the IP industry. It enables law firms and IP professionals to take on a more strategic role within the organization, generating insight from data to help shape future company performance, while leaving the more mundane aspects including administrative tasks such as monitoring, research, and filing annuity payments to computers.
As a multitude of such technologies is set to nurture the growth of the IP management industry, CIO Applications has taken up the responsibility of examining and analyzing some of the promising solutions developed by market leaders. A distinguished panel comprising CEOs, CIOs, VCs, and analysts, along with CIO Applications’ editorial panel has evaluated several organizations and shortlisted the ones that are distinctively prominent in the field. The companies listed here showcase extensive business knowledge and exhibit competence in delivering innovative IP management solutions that meet the needs of the customers.
We present to you CIO Applications’ “Top 10 Intellectual Property Management Solution Providers – 2019.”
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