As an IP Owner or IP Partner, there are many options of how to manage your patent portfolio. Here at patentrenewal.com, we have worked the different options one way or the other by now.
Some IP Owners store an Excel file in their company file system and keep that up to date. Most IP Owner and IP Partners with more than 50 renewals a year use an IMPS (Intellectual Property Management Software).
PatentRenewal.com data option
Giving your portfolio to patentrenewal.com
When becoming a patentrenewal.com customer the first thing to set in order is to receive all of your patent data. This happens with one of the following processes:
You upload your data yourself to your platform on app.patentrenewal.com
You send us your spreadsheet file or a portfolio export from your IMPS and we onboard your portfolio for you
You give us integration credentials to your IMPS and we set up an integration between your IMPS and the patentrenewal.com system.
All your patent data includes both ungranted, granted and patents that never needs to be renewed like your PCT applications. This means our automated systems can keep your patents up to date with the newest information from national databases. Unfortunately, many patent offices either do not have a public database or update it so irregularly that we need the information directly from you when it comes to information that changes things about renewals. You can read more what information we need and why it is important by reading our article on keeping your data up to date.
Keeping your data up to date on the patentrenewal.com platform
To update your data there are three ways we currently support
You update your data yourself on your platform on app.patentrenewal.com
Your export a file from your IMPS as often as you would like and send it to us, e.g. every second week. Once again confirming you keep up to date with the relevant data
We automatically get updates from your IMPS 4 times a day that you have confirmed you keep up to date with the relevant data
Updating your portfolio or IMPS with data from patentrenewal.com
You can export a file from the patentrenewal.com platform as often as you would like or ask for a bi-weekly update with an export of all relevant changes made to your portfolio.
Export a file from the patentrenewal.com platform as often as you would like and send it to your IMPS provider or ask for a bi-weekly update with an export of all relevant changes made to your portfolio which you once again can send to your IMPS provider or based on the list can change yourself.
We ensure your IMPS is synchronized with updates from patentrenewal.com that you might not have in your IMPS or that you have updated on the patentrenewal.com platform 4 times a day.
Risk of the different models
You have full control of your data and since you both update and upload all your data to the platform. You risk human error, forgetting to update some data, copy and pasting information incorrectly and having to check manually that your own portfolio file is in synch with your patentrenwal.com data.
This model comes with the highest risk and is the most time-consuming. Everything will work and be up to date is done correctly, but as there is no direct integration with your IMPS there is a risk they either update your data manually or have a low experience with patentrenewal.com data and might, therefore, integrate it improperly if they do not wish to follow the instructions provided by patentrenewal.com. Depending on the frequency of sending the files, a risk also comes along here. In some countries you only have 3 months from a patent is granted to renew a patent. If you decide to send bi-monthly updates to patentrenewal.com and did not upload the grant date to your IMPS immediately, but first after 2 weeks, we might only have 2 weeks left to renew it, which gives you a very limited to pay the invoice so we have funds available to renew your patent.
Everything is always in synch and is it automatically. The risk of this model is that the system assumes that you input the important information we need in either your IMPS or on the patentrenewal.com platform. If you think you have input it into one system but not the other, you will risk that the patentrenewal.com system assumes everything is as it should be. Another risk is mismatches or wrong data in your IMPS, if patentrenewal.com does not already have for example a filing date and gets it from your IMPS it will assume it is correct until the system has enough information to verify it and in case the verification goes wrong has gotten your confirmation of which date to use.