When you acquire patents to protect your invention, the process doesn’t stop there. One has to constantly keep a watch on the patent, so that its purpose is fulfilled. It can be breath-taking for the owner to keep Intellectual Property on hook. The inventor has to keep a watch on all types of patents that may be related to their invention that is known as patent watch. Old and new patents, both are to be monitored under this.
Growing need for Patent Watch
- With growth in Intellectual Property industry and rise in awareness, it is becoming essential to keep a watch on what is happening around.
- To monitor activities closely, especially, by the competitors.
- With improvement in technology, innovations keep on happening and it is important to gather legal information.
- It keeps you ahead of your competitors, which is important for the business.
- Track expired and abandoned patents as well.
There are various such factors that are really important to keep pace with the growing innovation in all industries. With all the information provided to you through the service, you can use it to your benefit whenever there’s an opportunity.
IP Practices to watch
The patent watch services help you to keep a watch on IP practices of competitors such as:
- R&D strategies
- Innovations in products or services
- Patent licensing
- Patent expiration or abandonment
- New patent activities
Also read: How to Avoid Patent Infringement?
If a competitor has abandoned any patent or if their patents have expired then you can quickly take the action and prepare a strategy for using the opportunity to get similar patents according to your need. Keeping your eye wide open can help you grow rapidly within the industry.
When you have your patent in hand, you may be infringing someone’s patent and also someone might be infringing your patent too. So, it becomes very important to monitor your patents. You can catch a big legal trouble in any case of infringement of someone’s patents.
Types of Patent Watch Service
There are different types of patent watch services such as:
- Competitor Patent Watch: This service keeps a watch on the patents of the competitor’s and check their abandoned, expired, published, or granted patents.
- Technical Patent Watch: It keeps a check on the technical innovations taking place in the industry or by competitors.
- Patent Legal Watch: It updates the inventors about the changes required legally in the patent or newly published or granted patents which you may have interest in.
- Design Patents Watch: This service keeps an eye on all the activities taking place with respect to design patents. New, abandoned, granted, or published patents or patent applications are kept under observation.
- Infringement Watch: This service helps to keep an eye on the infringement cases which may target you for legal action.
- Trademark Watch: In this service, trademarks are monitored for any opportunity or damage control.
Also read: Why is Patent Watch essential?
So, it can be concluded that the patent process doesn’t end just after the publishing of patents. But it is clearly important to keep on monitoring the patent with the help of experts so that any activity taking place which may interest you, doesn’t go unnoticed. Patent watch service has many advantages and can keep you above all in your industry. So, this service should rather be taken more seriously and taken into consideration for the constant growth and innovation.
So, whenever you are ready to hire the best services to monitor your patents, The Patent Watch Company is just a step away to come up with the best results. We have a professional team at work and provide wide and global coverage at minimum cost. We value your time and thus provide timely delivery. Visit our service page to know more about our services.
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