Intellectual Property Management: The Rise of Specialized Software
February 7, 2024 ⚊ 1 Min read ⚊ Views 31 ⚊ BUSINESS
As the global economy becomes more knowledge-based, intellectual assets now account for over 80% of the value of large companies according to some estimates. Yet many firms struggle to effectively organize and utilize the full potential of their IP holdings. Manual processes are prone to errors and inefficiencies, while spreadsheets and basic databases lack the robust functionality required to handle complex IP tasks at scale. Not maintaining proper control and oversight of IP portfolios can lead to issues like expired patents, lost trademarks and inadvertent disclosure of trade secrets.
While originally aimed at large enterprises and IP law firms, new cloud-based intellectual property software software has made the strategic advantages more accessible to small- to medium-sized companies as well.
