Managing Intellectual Property Costs - Introducing IP Primer.

A Practical Guide to Managing Intellectual Property Costs.

Photo by Debby Hudson on Unsplash

Intellectual Property (IP) and its associated costs is complex, multi-tiered and as noted below, expensive. As we are always thinking about you and how we can support you, we've asked the IP experts at Brandstock to shed some light on what organizations can do to control costs and prevent imperilment.

Introducing the IP Portfolio Cost Management Primer! Read on for the introduction and Table of Contents, click here to access the entire Primer.

Managing and maintaining intellectual property (IP) assets is expensive, resource-intensive, and risky. A single trademark may attract renewal fees around the world costing thousands of dollars, while the implications of failure in the process could be critical for a business. Add the costs of employing and managing local agents, managing assignments and other recordals, let alone developing new brands and the IP assets that go with them – and it is easy to see how the process can become expensive and unwieldy.

In this Primer, IP experts Brandstock explain what organizations can do to rationalize the costs involved in managing IP without imperiling their overall portfolio. This Primer introduces various strategies for rationalizing the costs of IP management and takes a closer look at industries that tend to have extensive IP portfolios, such as fashion and pharmaceuticals. Depending on the industry, different actions and approaches may be better suitable and/or have a greater impact than others. This Primer will help you understand where best to focus your efforts.

Table of Contents

Agent Benchmarking..............................................................................................................2 Reducing Failure Rates...........................................................................................................2 Auditing .................................................................................................................................. 2 Docketing ................................................................................................................................3 Renewals and Annuities.........................................................................................................3 Mergers and Acquisitions .....................................................................................................4 Understanding your Resources.............................................................................................5 Industry Specifics.....................................................................................................................5 Pharmaceutical Industry: Name Creation ............................................................................6 Pharmaceutical Industry: Diverse Assets .............................................................................6 Fashion Industry.......................................................................................................................7 Taking the First Steps towards Cost Rationalization ............................................................7 Taking the Plunge......................................................................................................................8 Members please click here to access the full primer.

Here's a little more information on Brandstock.

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NEW BENCHMARKING PRIMER

Check out Jason Winmill's (of legal management consultancy Argopoint LLC) practical, effective approach to navigate the challenges of benchmarking.

To access the largest repository on Legal Procurement, please go to www.buyinglegal.com/formembers. For specific information on legal services benchmarking go to www.argopoint.com.

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"Industry standards have been around a very long time. Their purpose is to enable a more effective and efficient market for a product or service. Standards come about when industry participants recognize that a there is no real competitive advantage to having custom and unique specifications, instead realizing that the lack of a standard hinders the market, limiting innovation and creativity. A legal matter standard will help in the sourcing of legal services."

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