Patent management is one of the important things that you as an innovator cannot ignore. It allows you to keep track of your patent as well as the competitor’s patents of your concern. This way you can take effective steps in negotiating the challenges of future. It will also help you take necessary actions to beat your customers and remain competitive in market. Patent monitoring services helps you to achieve the given things successfully with ease.
This article will give you a healthy insight of patent monitoring services. It will also remove any doubts and questions that you have related to it. So stay tuned and keep reading.
Also read: Patent Monitoring: Get timely alerts
Patent Monitoring Services – What you get?
When you develop a patent always remember one thing, you are not alone here who is innovating. There are multiple other players in the market who are working on same technologies as you are doing.
Thus, hiring patent monitoring services will help you to remain aware of all such players in the IP world. You will get to know, who is developing patent of your concern and in which part of world.
The professional providing patent monitoring services asks you the desired location where you want to monitor the patents. You also need to tell the time period for which you want to receive the patent monitoring alerts. Once all this is done, you start receiving patent monitoring alerts timely.
Patent Monitoring – Is it really needed?
Perfect way of solving any problem is to know earlier what problem you are going to face in future. Patent monitoring services helps you exactly with that. You get to know the patent problems coming your way in future. Thus, you are able to manage your actions, plans and beat any patent issues that might bring losses for you in future.
Patent monitoring services provides an eye over your competitor’s patents and other patent applications that concern you. You will receive alerts on application filing, office actions received, status of application, disclosures in the application, any infringing patent application similar to yours.
Thus, you get a full insight of patents that are important to you. If you find any patent application which is infringing your patent rights you can sue the owner of it and stop him there only.
Further, if you are going to develop a patent, you can know if any similar patent is priorly registered and in use. It will prevent you from developing such an infringing patent, and protects you from getting sued on legal infringement cases.
Also read: How to avoid patent infringement?
Forms of patent monitoring available to hire
Patent monitoring services are a way to keep watch on patent activities that can have impact on you. However, according to your needs and concern, it is divided into following types –
Competitor Monitoring Services:
With competitor monitoring, you remain fully aware of your competitor’s patent actions. You will receive timely updates as to what new products your competitors are developing. This way you can deduce their strategies and come up with an effective plan to counter them. If you get to know, they are infringing any of your registered patents. You can sue them and demand monetary compensation in lieu of avoiding legal case.
Legal Status Monitoring Services:
When you file your patent you need to be aware of your own patent progress also. Legal status patent monitoring services help you with that only. It provides you timely alerts on your own IP status. It further guides you for actions you need to take.
Apart from your own patent status, it will also update you on the legal status of your competitor’s patent applications. Thus, you can easily predict their IP strategy. You also get updates of lapsed patent applications. Utilizing this you can find an entry point into the market and gain immense profits later.
Technical Field Specific Monitoring:
With technical patent monitoring services, you get the updates on new patents coming in a specific technical field. Usually this field is nothing but the field with which your company and its products are associated.
With help of it you get to know the new competitors and entrants in your field. You can understand what technologies they are focusing upon. Thus, knowing their strategies and products even before they launch it, you can counter them effectively with a better alternative.
Also read: Patent watch – An overview
Patent monitoring with “The Patent Watch Company”
Given the risks in patent management and actions in form of patent monitoring you need to counter it. It is very important to choose an experienced professional and trusted partner for your patent monitoring needs. “The Patent Watch Company” provides you with most reliable patent monitoring services in the IP industry.
We have an experience of 10+ years in patent monitoring. Working with our experienced professionals we have earned the clients from over 100+ countries. With us you get the most flexible and widest coverage possible. Price is not the issue it is minimum in the industry, we charge for what we provide. Read more about us here.