Buyer's Guide for Top Intellectual Property Management Software

Found our list of Intellectual Property Management Software helpful? We’re here to help you make the right choice and automate your business processes. Let’s discover some of the essential factors that you must consider to make a smarter decision!

Buyers Guide Content

  1. What is Intellectual Property Management Software?
  2. Common Features of Intellectual Property Management Tools
  3. Benefits of Patent Portfolio Management Software
  4. Who Uses Intellectual Property Management Solutions?
  5. Challenges with Intellectual Property Management Software
  6. How to Choose the Best Intellectual Property Management Software (IMPS)
  7. Similar Software Categories Related to IP Management Software

What is Intellectual Property Management Software?

Intellectual Property Management Software helps track, maintain, and protect intellectual property such as trademarks, copyrights, patents, inventions, symbols, images, trade secrets, and more. It also enables users to directly file for IP (intellectual property) protection and keep track of all the procedures till their IP gains legal protection.

Intellectual property management software (IPMS) helps companies and law firms manage their intellectual property (IP) portfolio and the legal entities designed to protect their IP, which includes trademarks, copyrights, and patents.

IP management software centralizes all IP-related tasks and acts as a docketing system for IP filings. The tools facilitate a shift from spreadsheets to comprehensive systems for patents, copyrights, and trademark management.

Companies and law firms utilize intellectual property management tools for IP docketing to file patent applications, construct IP workflows, streamline the process of sheathing an idea in legal protection, and store all documents related to the IP.

Users can also maintain a centralized database of all the IP assets, apply for IP ownership, track violation of intellectual property rights, and more. IP management software is often used by corporations, law firms, and inventors to maintain a portfolio of all IP assets, check for infringement, collaborate with clients, etc.

Common Features of Intellectual Property Management Tools

Here are some common features users can find in every intellectual property tracking software such as:

  • Document Storage: Store all the documents related to your intellectual property including IP applications, invention-related data, IP infringement documents, IP contract renewals documents, and more.
  • IP Asset Management: Track, manage, and maintain all the IP (Intellectual Property) assets, including patents, trademarks, logos, etc., from a single solution.
  • Automation: Streamline and automate repetitive tasks including sending reminders and alerts, updating intellectual assets’ info, making payments, and more.
  • Docketing: Easily manage deadlines, documents, and data related to IP application procedures through trademark docketing software.
  • Task management: Easily keep track of all the tasks related to copyright, patents, trademark, etc., applications, management, litigation, renewal, and more from a single solution.
  • Integrations: Easily integrate with different software including patent search software to know about the data of existing patents.
  • Client collaboration: Law professionals can collaborate with their clients and provide them with a real-time view of their IP application status, estimated IP protection cost, and more.
  • Legal Spend Management: Keep track of all the expenses that occurred during the procedure of IP protection and acquisition in legal proceedings.
  • Payment Processing: Law professionals can receive all types of payments for IP filings and their protection from their clients and vice versa through this software.
  • Dashboard: Track and view all the tasks and data related to intellectual assets and their management through a centralized dashboard in real-time.
  • Contract Renewals: Easily file for contract renewals of your intellectual property including trademarks, patents, etc., directly from the system.

Benefits of Patent Portfolio Management Software

  • Maintain a Portfolio of IP Assets: Intellectual property asset management software enables organizations and law firms to maintain and handle the portfolio of IP assets. Users can easily track and manage various intangible assets including trademarks, patents, copyrights, etc., easily through this solution.
  • Easily Collaborate with Clients: Law professionals who handle IP applications of their clients can easily collaborate with them in real-time. They can share the application status updates and send requests for additional data to their clients with IPMS.
  • Track IP Infringement: IP and patent management software allows users to track the infringement of patents, trademarks, etc., with AI-based technology. It helps in finding IP infringement and protecting IP rights by allowing them to file for the IP violation case through this tool.
  • Easily get Estimation of IP Cost: Users can easily get the estimated costs for acquiring legal rights for their intellectual property with AI-based analytics. The solution will study industry type, invention complexity, and scope to provide an estimated IP acquisition cost.
  • Keep a Track of Existing IP: Business entities and patent attorneys can easily keep track of all their existing IP assets, store their information, check for their infringement, and file for renewals with IP management software.
  • Easily Track Your Intellectual Property Application: Organizations can keep track of their intellectual property in real time till the acquisition procedure is completed through IP management software.
  • Get Notified When Infringement Occurs: Intellectual property management tools monitor online websites to identify IP infringement. In case when IP infringement occurs, it notifies users via alerts and notifications.

Who Uses Intellectual Property Management Solutions?

Intellectual Property Management solution is useful for the following group of people:

  • Patent Attorney: Patent attorneys use patent management software to maintain a portfolio of their clients’ IP assets. It also helps them in managing the entire application process for the IP protection of their clients.
  • Inventors: The creators of intellectual property use intellectual property management systems to file for their IP protection, track its status, check for IP infringement, and manage the existing intellectual property.
  • Corporations: Businesses use intellectual property tracking software to maintain their IP assets portfolio, store their data, track them, and acquire legal rights over them.

Challenges with Intellectual Property Management Software

Data Security: Data security is important to keep all the data related to inventions and trademarks secure that have not yet acquired legal status. However, not all IPMS offer robust data protection features to keep the data protected and free from data breaches. This might lead to the infringement of intellectual property rights.

How to Choose the Best Intellectual Property Management Software (IMPS)

  • IP Assets Support: Choose an intellectual property management system that helps you handle a plethora of IP assets including patents, trademarks, copyrights, inventions, etc.
  • Clients Portal: The client portal will help legal attorneys to communicate with their clients and provide them with IP application status updates.
  • Infringement Tracker: The IP management software with an infringement tracker would help you to track violations of IP asset rights.
  • IP (Intellectual Property) Filing: The solution you are planning to choose should allow you to file for IP protection and infringement.
  • User-Friendly: IP portfolio management software should have a user-friendly interface to easily go through different sections and modules.
  • Cost: Choose software that fits your budget and requirement.
  • Scalability: The scalability feature of intellectual property management tools would help you to manage a bulk of IP assets in the future.

Similar Software Categories Related to IP Management Software

  • Audit Management SoftwareAudit management software helps organizations to streamline and automate their auditing procedure and stay compliant with regulations. With this software, you can define, monitor, and implement auditing procedures.
  • Risk Management Software: This type of software helps businesses in recognizing and resolving various business, non-business, and financial risks. With risk management software, they can create preventive measures to avoid risk.
  • Contract Management SoftwareIt helps legal entities and law professionals to create, manage, and maintain the contracts of their clients.it digitizes all documents and stores them in a centralized repository.
  • Law Firm Software: Law firm solution enables lawyers and practitioners to meet the necessary compliance needs including document retention policies, electronic filing systems, and more. With this software, they can easily do their legal practice, streamline documentation, minimize data errors, and more.
  • CA Office Management Software: This software has been designed especially for CA professionals to manage their practice. They can easily maintain all their client's data, meet compliance requirements, and more through this software.
  • GRC Software: GRC (for governance, risk, and compliance) software helps organizations to manage their governance, risk, and compliance requirements. The main purpose of this software is to identify and measure business risks and ensure compliance with internal and external compliance regulations.
  • Legal Case Management SoftwareIt has been designed for legal entities to streamline and automate every task related to legal cases. With this solution, they can maintain all documents, track billable hours, accept payments for their cases, and more.

Author: Kalpana Arya

Intellectual Property Management Software

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Iolite Patent Management Software

By Iolite

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The Iolite Patent Management Software is a powerful tool to manage the Patent Application of different jurisdiction such... Read More About Iolite Patent Management Software

CPA Global IP Management Software

By CPA Global

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CPA Global IP Management Software is an all-in-one Intellectual Property Management Software designed to serve Startups,... Read More About CPA Global IP Management Software

Red Points

By Red Points

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Red Points is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and Agencie... Read More About Red Points

TM Cloud

By TM Cloud

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TM Cloud is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and Agencies.... Read More About TM Cloud

IP (Intellectual Property) management software has been designed to acquire, track, maintain, and protect different intellectual assets. It is often used by law attorneys and corporations to maintain a complete portfolio of their intellectual property.

The intellectual property management system helps organizations to manage the entire cycle of their intellectual property such as trademarks, patents, etc. They can also use this system to file for IP protection.

One of the best ways to manage all your intellectual property is through IP management software. You can not only manage your existing IP assets but also apply for the ownership of future intellectual assets.

The best IP software would come with all the features necessary to protect and manage your intellectual property. However, some of the best intellectual property tracking software solutions are IPfolio, Kangxin IP Platform, Juristat, IPzen, etc.

WebTMS

By WebTMS Limited

Price On Request

WebTMS is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and Agencies. T... Read More About WebTMS

Appcoll

By AppColl

Price On Request

Appcoll is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and Agencies.... Read More About Appcoll

Patrix IP Management Software

By Patrix AB

Price On Request

Patrix IP Management Software is an all-in-one Intellectual Property Management Software designed to serve Startups, SMB... Read More About Patrix IP Management Software

Computer Packages

By Computer Packages

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Computer Packages is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and... Read More About Computer Packages

Ipzen

By Ipzen

Price On Request

Ipzen is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and Agencies. Th... Read More About Ipzen

PATPEND

By MindMatters Solutions

Price On Request

PATPEND is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and Agencies.... Read More About PATPEND

Rightsline

By Rightsline Software

Price On Request

Rightsline is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and Agencie... Read More About Rightsline

Symphony IP Management

By MaxVal Group

Price On Request

Symphony IP Management is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs... Read More About Symphony IP Management

Inteum

By Inteum Company

Price On Request

Inteum is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and Agencies. T... Read More About Inteum

Symfact Intellectual Property Management

By Symfact

Price On Request

Symfact Intellectual Property Management is an all-in-one Intellectual Property Management Software designed to serve St... Read More About Symfact Intellectual Property Management

equinox IPMS

By Work AnyWhere

Price On Request

equinox IPMS is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and Agenc... Read More About equinox IPMS

Continux

By Continux

Price On Request

Continux is an all-in-one Intellectual Property Management Software designed to serve Startups, SMBs, SMEs and Agencies.... Read More About Continux

Last Updated on : 08 Dec, 2022

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FAQs About Intellectual Property Management Software

No, the trademark law does not protect your software. It could help in protecting its visual aspects such as its logo, visuals, etc. With trademark docketing software, you can easily manage and protect the logo and visuals of your software.

To copyright your software name, you need to submit documents for proof of name, identity, address, etc. You can also use copyright management software to acquire and safeguard your software name.

You can obtain 4 types of intellectual property rights for software such as patents, trade secrets, trademarks, etc. To obtain these rights over your software, you can use an IP management solution.

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