Intellectual Property Portfolio Management is that area of IPR which deals with the proper handling and treatment of Inventions, Patents, Trademarks, and other IP related Contracts in an organized manner. Typically the application, filing and prosecution of most IP Right process involves a number of stages that span over a substantial period of time. The number of IPR owned by an individual/organization/institute, etc together constitute as the IPR Portfolio of that individual/organization/institute, etc and the management of this portfolio in a systemic way turns out to be a challenge to most. The most common tool used by most for IP Portfolio Management are spreadsheets or home-grown databases. Sometimes even outdated docketing systems are used. However, all these methods are messy, unorganized and have a large number of limitations, making IP Management a hassle.
IPfolio is a collaborative approach towards efficient IP management, which incorporates the basic requirements that go into the process of effective systemization. The tool is aimed at increasing efficiency of IP teams of small, medium and large corporations and can also be used by individuals. IPfolio greatly reduces administrative overheads and results in streamlining of the company’s internal processes by active co-ordination between the various teams involved in the development of the company’s product/technology/services. This is achieved by using IPfolio to tie IP assets to products, the target markets and then analyzing the revenue streams.
Some of the biggest benefits of using IPfolio is that it centralizes complete IP management as it is a cloud-based solution, accessible by different teams working from different locations. It incorporates easy to use analytics which are customizable to specific workflows and can be configured to different user access restrictions and permissions. IPfolio also comes with the highest standards of Security and Privacy policies and is built on the trusted Force.com platform of SalesForce.com fame. Since the pricing is subscription based, it becomes easier for companies to get started immediately with help from the IPfolio team with regards to import of data from previously used IP management system and also with integration if any.