In this fast paced world daily new technologies are invented. Thus, thousands of patent applications are filed with patent offices every month. So, if you are also investing in R&D of new technology, you need to be sure, “Are you investing in patenting of right technology?” This is where the patent monitoring comes in for your help.
Hiring monitoring services alerts you of the dangers to come when you think of inventing and patenting a new technology. This article is written with purpose to explain you the aspects of patent monitoring and its proven benefits. So, read till end.
Also read: Patent watch for effective business decisions
Getting timely alerts with patent monitoring
Patent monitoring is basically an activity of keeping watch on the patent activities of the patents concerning you. Thus, it helps you in achieving the goals of your company. It is because you get relevant alerts before investing in development of any technology. Curious to know more about it, following are the alerts that you receive by hiring patent monitoring –
1. Stay Updates with latest developments concerning you:
One way to beat your competitors is to be aware of what they are developing. Once you know there plan of action, you can find the limitations in their technology. Further, you can provide the customers a complete a solution that covers the limitation of your competitor’s knowledge. This will help you appear more useful in the market, and you will add more customers for your product.
Patent monitoring helps you with that only. It will tell you about the patent applications of specific technology filed with the patent office in your region. So, decide what to develop even before your competitors launch their technology in market.
2. Keep away the office actions:
One of the prime requirements to get the grant of patent is the novelty of your invention. If your invention is not novel, patent examiner will hand you an office action. As a result you won’t get the patent grant. Thus, when you hire patent monitoring services you get the alerts of similar patents registered prior to your patent application filing.
Knowing this you can change the course of action and invest in more promising technology. Thus, you are able to avoid the issue even before it becomes an issue.
Also read: Patent Watch: An Overview
3. Sue the infringers with patent monitoring:
Developing a patent requires lot of investment in all forms viz. intellectual, time, and monetary. Thus, you don’t want the patent developed by you to get illegally used by your competitors. Hiring patent monitoring solves such kind of worries. You will get the list of all the infringers who are using the technologies similar to your patent on their name.
You will also get the alerts for the patent applications filed with patent office that match with your prior registered patent. Hence, with patent monitoring you can sue all the infringers who are using or going to use the technology that is actually your intellectual property.
Further, to settle the case outside patent office you can also ask for the monetary compensation from infringers.
4. Know the new players in market:
When you hire patent monitoring services, you get to know the new players in the market who are in the same specific field that concerns your market. It does so by giving you the details of all patent applications filed by them at patent offices around the world. You can also customize the patent monitoring to the area specific to your interest.
Hence, no matter how much your new competitors hide, you will get to know them way earlier than they launch their product in the market. So you get an opportunity to derail them with patent monitoring, before they make you suffer.
Also read: How to avoid patent infringement?
Types of Patent Monitoring
As per your interests and requirements you can get the patent monitoring done in following two ways –
* Competitor monitoring:
If you are interested in knowing the strategies and tactics of your competitor, you should go with competitor specific patent monitoring. Here you give the details of your competitors and keep getting the alerts on the patent actions your competitor is going to take. It includes filing of patent application, claims made, office actions received, etc. Awareness of all these things about your competitor helps you to take steps in right direction.
* Field specific monitoring:
There are scenarios when a company going to develop a technology, wants the details of patent activities going on in that field. So, if you also want to focus on a specific technology, you can go with specific field patent monitoring. In this you will get regular updates on patent activities on the technologies of your interest. You will also get to know, how many competitors you have if you focus on this technology. Thus, you can take prior actions to negotiate the competition.
Also read: Why patent watch is essential?
“The Patent Watch Company” for patent monitoring
When you look for the professionals providing patent monitoring, one thing that concerns you most is their reliability. It is because your actions are going to be based upon monitoring reports you get from them. That’s why you need to hire us, “The Patent Watch Company”.
We are in this domain from past 10years, and offer 100+ monitoring tasks every week. You can trust on reliability from the fact that, we provide our services to clients in over 100+ countries. Our experts come from every field possible and provide most flexible coverage. Hiring us, you get timely alerts in minimum price possible. Read more about us here.
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