4 Reasons to Outsource the Patent Docket
Many leading academic institutions have found that outsourcing all, or a portion, of the patent docket makes sense for their technology transfer operations. A streamlined patent docket process, managed by experts, takes away the burden on tech transfer staff and allows them to focus on their fundamental mission to support innovation and identify opportunities to bring technologies to market for the public good.
In essence, the benefits of outsourcing this function include:
1. Lower costs: internal overhead is less, fees for missed deadlines decrease
2. Secure IP: experts have their eye on the ball to protect patent rights
3. More time: licensing managers are less burdened with administration
4. Data integrity: a laser focus on cleanup and ongoing management has far-reaching benefits
When you consider outsourcing options it’s important that the vendor have experience with your office database system; Inteum, Wellspring, TechTracS, or Cayuse for example. If your office keeps track of the patent docket with spreadsheets, it's equally important to recognize that it's human expertise that keeps the process on track. At all times, we recommend that technology transfer offices stay on top of their patent docket deadlines by at least 3 months, if not more.
As a best practice we like to see that docket reports are reviewed on at least a bi-weekly basis and that, as a team, decisions are made on how to move forward. This discipline will help alleviate unnecessary extension fees and keep legal expenses in check.
As universities and major medical centers evaluate the strategic management of their patent portfolios, many have found that outsourcing the patent docketing function is a better way to allocate resources. Get in touch and we will be happy to discuss your needs.