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IP Management: 5.5 Critical Reasons You Need An IP Consulting Firm

Intellectual property means much more than just innovative inventions and patents. To realize and enable different income streams, your IP portfolio must be properly managed to safeguard proprietary technologies and help maintain a competitive advantage in the marketplace, while also attracting interest and investments.

An IP consulting firm is an important ally when building or strengthening your patent monetization efforts.

Partnering with an IP consulting firm go hand-in-hand with a robust IP strategy that aims to identify, evaluate, capture, protect and attain valuable IP assets. Here’s why:

1. You Find Engineers And Analysts With Years Of Experience

A good IP consulting firm has engineers and analysts with years, if not decades, of industry experience. They know how to take a 30,000-foot view of your patents and their related technology, but are also able to get up close and identify key patents that form the basis for a solid patent monetization strategy.

2. You Secure The Absolute Best Blueprint For Patent Monetization

As a leader of your corporation, you do not necessarily have the dedicated resources it takes to develop a comprehensive roadmap for successful IP management.  When you partner with an IP consulting firm, they are focused fully on realizing the potential of your IP portfolio, leaving no stone unturned. With an underlying awareness for integrated, exhaustive patent mining, the right IP consulting firm gives you the absolute best blueprint for patent monetization.

3. You Easily Adapt To Industry Trends For Strategic IP Management

Industry, technology and applications are ever changing, and it is often difficult for company leaders to stay ahead of the curve where the future of their patents are concerned. To truly get the most from your IP portfolio, it requires strategic IP management that is best attained with an experienced IP consulting firm that’s able to predict future industry trends. This high level of strategic patenting is going to give your company an edge over competitors.

4. You Gain Reverse Engineering Services And Teardown Capabilities

When your company faces competitor threats to your intellectual property, you need patent litigation support. The right IP consulting firm has reverse engineering services with experts in technology teardown tactics. The evidence these experts uncover is commonly a deciding factor in court.

5. You Receive Patent Litigation Support For Legal Proceedings

Whether you are protecting your IP against infringers or defending your products against the infringement claims of competitors, an IP consulting firm provides highly experienced patent litigation support services to work with either in-house or outside counsel. The firm acts as a silent partner for legal counsel. With attorneys on staff, the firm understands the position that you may be stuck in and tailors the work product for use by those acting in a legal capacity.

5.5. You Get Efficiency And Value

Effective IP management requires a quick, proactive team to get through a portfolio, comply with a docket or find EoU. When you partner with an IP consulting firm, they provide all the IP services you need, as they have the team already built and ready to go to work. This level of efficiency and expertise equals value by saving your time and money both in the short- and long-term.

While providing your business with a proactive approach to IP management, an IP consulting firm also assists in mitigating significant risks resulting from poorly considered or reactive approaches to patent monetization.

Ready to partner with the right IP consulting firm and receive long-term, successful IP management for your corporation? Contact the patent experts at TechPats today.