Protecting R&D investment with a patent monitoring program
The job of intellectual property counsel is not to simply deliver reports, but to protect clients’ R&D investments.
One-time patent searches are snapshots in time that leave clients vulnerable to costly interference down the line. For example, the US Food and Drug Administration reports that new drugs take an average of 12 years to go from bench to market. When one considers that new patent applications are generally not published for 18 months, it is easy to understand that even non-pharma projects are susceptible to the ever-changing IP landscape.
In a rapidly evolving technical and IP landscape, companies seeking protection for emerging innovations must continually monitor new developments that can pose critical threats to their patent portfolios.
Why implement a patent monitoring program?
IP value is threatened when patents and relevant publications are insufficiently monitored. Much can change between early-stage research and investment planning to commercialization.
Patent monitoring for a current project helps identify potential infringements by revealing:
Keeping a close eye on changes to pending applications from competitors, legal action on related similar patents, emerging prior art, and new publications is critical to staying competitive, speeding up innovation, and minimizing litigation risks.
Additional benefits of patent monitoring
For companies concerned with innovation, patent monitoring offers benefits beyond minimizing litigation risks of ongoing projects.
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Monitoring industries and areas of interest provides clients with an understanding of the relevant IP landscape, positioning IP counsel to inform and guide R&D efforts.
Similarly, companies that prioritize innovation benefit from monitoring competing organizations. Maintaining a close eye on the industry gives the client a competitive advantage, highlighting opportunities for differentiation as well as collaboration.
Considerations for effective patent monitoring
An effective IP partner provides complete and timely patent landscape updates that threaten clients’ patent portfolios and patents in process. This includes changes to competitive pending patent applications, emerging prior art, and changes in the legal status of similar patents.
Delivering this level of IP insight requires a well-thought-out patent monitoring program.
A skilled search team needs subject matter and domain expertise, as well as quality tools and databases. Broad IP management services may not have sufficient focus or expertise to identify relevant patent threats promptly.
It is also crucial to set expectations in partnership with clients. Providers that offer highly centralized, low-cost searches without close collaboration between clients and searchers have been known to miss critical details that put IP value at risk.
Learn more
Learn more with a recorded panel webinar on patent monitoring. The experts also share ideas to leverage insights gained through monitoring programs across a product lifecycle – from legal status changes to post-market quality and safety surveillance. Webinar recording: Securing and Adding IP Value through Patent Monitoring.