IP Docketing Software may sound like an expensive or out of the budget sort of a product for most of the companies which are involved in the IP Management System. The organization may feel that IP Docketing Software could be a good idea; however, excel or spreadsheets work usually fine, so why is there a need for IP Docketing Software? Recent trends have shown that IP Docketing plays an essential rule. At the same time, we talk about Intellectual Property Management, from maintaining strict deadlines to being dependent on impromptu tools prone to unwarranted challenges into the company’s operations. Especially when the companies have multiple filings and enlarging their IP portfolios, physical labor can are not sufficient to shield the risk. Why not go for IP Docketing Software.
Several Patent and Trademark offices of various countries are extremely strict when it comes to filing patent and trademark applications, which ultimately leads to a timely following of all the deadlines without any room for mistakes, which can lead to high losses for an organization. Docketing errors can also occur, which are usually very common; as per America’s Bar Association, almost 25 percent of the malpractice cases are derived from the incompetence to file documents or skip deadlines. There is always a probability of high risk for the attorneys and IP managers. The absence of IP docketing software constitutes a potential risk to their job potential and the company’s operations.
Streamlining the Applications IP Docketing refers to a method or a system to manage IP application procedures. It is a vital tool for law firms responsible for handling Patent, Trademark, and other IP applications. It is inherently difficult to keep a check on the management of an unlimited number of Intellectual Property without an IP Docketing Software or a process that spontaneously keeps track of the documents and deadlines which have to be submitted or adhered to.
- The Application Process
The majority of the IP firms have docketing agents or experts who have vast knowledge and possess technical know-of the Docketing process. They are responsible for supervising the whole procedure, and This is because such kind of firms commonly handle numerous IP applications at one given time and delegate the IP Management service to the Docketing Specialists. As it may take a certain amount of time for the grant of the IP, it is incredibly significant to check on the various declarations, forms, documents, drawings, and the deadlines involved.
- Advantages of IP Docketing Software
A custom made and professional IP docketing software offers a wide array of benefits that are substantial for securing the IP and helps in the successful implementation of the IP Management System.
The advantages include:
- Provides sanctity for publishing the invention;
- converts Manual IP Docketing as well as insurance and support;
- the IP Docketing Software, Patent Docketing Software generates automated deadlines and reminders for filing;
- acts as a trustworthy virtual assistant to assure that IP Managers and lawyers do not skip necessary periods, this is required when dealing with diverse IP applications in several countries; the more complicated the demands which need filing, there is an increased chance of missing the deadlines following the complex laws.
By permitting the electronic filing method and document preservation, IP docketing managers can streamline their affairs within a single unified system that authorizes for authority all over the whole IP Management System.
IP Docketing validates the documents thoroughly, i.e., ensuring that all the papers received from the client are accurately tagged and filed so that they are easily accessible as and when required. An enormous amount of paperwork reis created at the IP application filing stage. When they arrive at the firm, the first and foremost duty of the IP docketer is to label them with a name and a file number for every document and stack them in the correct folder or digital trademark or patent file.
- Easy access to relevant documents
This process of IP docketing secures every single document. It makes sure that it is entered into the company’s database so that the counsels can have easy access to all the adequate or required documents in the IP application file and their deadlines, i.e., due dates. For example, the IP Lawyers would wish to know if there is any forthcoming due date for submitting the documents with the PTOs.
The electronic record keeps insight into all the due dates. It sets a reminder for the counsels as and when a deadline approaches to file a particular document or any other submission. The role of Docketers here is to scan the copies of the required documents and accelerate the same to other law companies as and when needed.
- Significance of IP Docketing
Docketing is extremely important when it comes to IP Management or Prosecution. All IP applications of registration involve a vast deal of deadlines or due dates to adhere to follow. Through this process, some skipped dates can be retrieved; on the other hand, some may not be recovered. Deadlines, when omitted, could result in the ceasing of the application, that is to say, the application can lapse or abandon if the relevant documents are missing and not filed on the due dates. Cases, where missed dates can be retrieved, would cost enormous amounts of money to restore the application and involve a lot of extra efforts and hours of work.
Law firms with a few IP Applications can very much rely on spreadsheets and manual entering of data, and they usually work for them. Still, firms that are growing at a fast rate cannot be subjected to such tools as they might hamper their IP operations. Generally, IP firms do not possess a huge budget to hire specialists in such a field; IP Docketing Software is the only way out to escalate their method, leading to a decrease in physical intervention. Not only manual keeping of records or data gives rise to a potential risk to the effective and efficient Intellectual Property Management System, but they also prohibit the successful examination and enhancement of the IP Portfolio in toto. To manage IP efficiently, the IP Docketing software has become an integral part of the IP counsel’s workbox. This is why IP Docketing Software, Patent Docketing Software are crucial for your IP Business.
