What is an IPM system and why is it important?

Intellectual Property (IP) is a vital aspect of any business, as it represents the unique creations and innovations that set a company apart from its competitors. Whether it’s a new product design, a proprietary software system, or a brand name, protecting and managing IP is crucial for maintaining a competitive edge and maximizing profitability.

One of the most effective ways to manage IP is through the use of an Intellectual Property Management (IPM) system. An IPM system is a software tool that helps companies organize, track, and protect their IP assets. These systems typically include features such as:

• IP asset tracking: This allows companies to keep track of their IP assets, including patents, trademarks, and copyrights. This feature allows companies to quickly and easily access important information about their IP assets, such as the status of a patent application or the expiration date of a trademark.
• IP portfolio management: This feature allows companies to manage their IP portfolio as a whole, rather than dealing with individual IP assets in isolation. This can be especially useful for companies with a large number of IP assets, as it allows them to easily identify areas of strength and weakness in their portfolio.
• Collaboration tools: These features allow multiple users within a company to access and work on IP assets, making it easy for teams to collaborate on new innovations and products.
• Automated reporting: This feature automatically generates reports on IP assets, such as expiration dates or status of patent application, to help companies stay informed and take action when necessary.

IPM systems are typically available as “On-premises” or “Cloud Native” options. In this post, we explain the advantages of the cloud native systems.

• Scalability: Cloud-native IPM systems are built on top of cloud infrastructure, which means they can be scaled up or down easily, based on the organization’s needs. This allows for more flexibility and agility in managing Intellectual Property.
• Accessibility: Since Cloud native IPM systems are accessible through the Internet, they can be accessed from anywhere in the world, at any time. This makes it easier for organizations to manage their Intellectual Property assets, regardless of their location.
• Security: Cloud native IPM systems are built with security in mind, and the cloud providers have top-notch security features in place. This means that the organization’s intellectual property assets are secure from unauthorized access, hacking, and other threats.
• Collaboration: Cloud native IPM systems are designed to facilitate collaboration between different stakeholders involved in the management of Intellectual Property assets. This makes it easier for multiple teams and departments to work together on the same platform, which can lead to better communication and increased efficiency.
• Cost-effective: Cloud native IPM systems require less capital expenditure compared to on-premises systems, as there is no need to invest in hardware, maintenance, and upgrades. This makes it a more cost-effective solution for managing Intellectual Property assets.

Overall, an IPM system can help companies effectively manage their IP assets and make informed decisions about how to best protect and utilize those assets. By using an IPM system, companies can better safeguard their unique creations and innovations, and ultimately, drive growth and profitability.

AppColl® is a cloud native IP management platform helping everyone from solo-practitioners to Fortune 500 companies manage their IP needs.

To learn more about AppColl’s products, check out: https://appcoll.com/products/