Category: Article

Why Patent Search Firm?

A patent search firm provides professional patent search services to individuals, companies, and organizations seeking to protect their intellectual property or evaluate the patentability of a new invention or innovation. There are several reasons why an inventor or company may choose to work with a patent search firm:

• Patent search firms have access to a variety of specialized databases and search tools that are not available to the general public. These tools can help them conduct a more thorough and comprehensive search of the relevant patent databases and literature.
• Patent search firms employ trained and experienced patent search professionals who have expertise in various fields of technology. These professionals can provide a more in-depth analysis of the search results and offer guidance on patentability and patent strategy.

Overall, working with a patent search firm can help inventors and companies make informed decisions about their intellectual property and develop a strong patent portfolio.

There are different ways to find a patent search firm. Find a reputable and trustworthy research firm to see how best to assist you with your patent needs.

Searching for a patent search company on Google.

There are several types of options when looking for a patent search company. Google is one of the most widely used techniques. This is so that you can quickly locate a wide range of various businesses that provide this kind of service.

You may read reviews from previous clients when you search for a company on Google. Which is another advantage. Before choosing which company to work with, you may utilize this to gain a better idea of what other people think of the service.

Finally, you can receive a variety of price quotes from numerous businesses by using Google. This means that you can check the prices to get the greatest offer.

Find a patent search company using social media

1. Start searching for patent firms that focus on your particular type of patent demands on search engines like Google and Yahoo.
2. Make a list of the top five patent search companies from your list and then contact them to request a quote for your project.
3. To select the company that is suitable for your needs, try comparing the estimates you receive from each company.

Utilize online directories to discover a patent search company.

Finding a trustworthy company might be challenging. Thankfully, online directories can simplify the procedure. These directories include information about the patent businesses’ background and experience.

It’s important to do your homework on the specific businesses listed in a directory before using it. Make sure the company has knowledge of locating patents that match your particular requirements. Make sure to evaluate the costs that other companies offer as well. If you perform some preliminary investigation, you might be able to find a less expensive choice.

After choosing the company, start the patent search by giving them your requirements and details. The company will then start searching for patents that fit your description in publicly available databases. Be patient; depending on the amount of your request. And the quantity of patents for review. This procedure could take weeks or even months. Use Referrals To Find A Patent Search Firm.

Communicate with experts in your sector for suggestions if you’re having trouble finding a patent search company. You could search for companies that focus on patent searches online. Finally, you might get in touch with your neighbor’s patent office. And ask if they know of any reputed companies that can perform a patent search for you.

How Do I Select The Right Company For A Patent Search?

It is most important to consider some key points while selecting a company. First and importantly, look at the firm’s particular areas of expertise. For instance, some businesses primarily concentrate on patent litigation while others are technical patent specialists. Also, it’s critical to look into the firm’s registration history and any links it may have with certain lawyers or law firms. Finally, be sure to ask about the cost and affordability of the services. There are many excellent patent search companies. So it’s crucial to pick one that will suit your requirements and price range.

Conclusion

You must take every measure possible to protect your assets when it comes to property rights. A company can help in this situation. A company can assist you in finding patents. That may include concepts or technologies that you already have or may be able to resell. Suggest calling a company if you’re seeking for a trustworthy and affordable way to secure your intellectual property.

In recent decades, the value of intellectual property (IP) assets has increased. Sometimes an organization’s IP valuation is much more than its physical assets, real estate, or other holdings combination.

To make the most of this “secret” treasure trove, particularly in these uncertain economic times, an estimate of your intangible assets is necessary. However, this activity is more difficult than just taking a box apart and counting the cash inside..

The value of IP today

The total amount of intangible investments made by S&P 500 companies has grown since the mid-1990s, according to a 2020 research, increasing from $3.12 trillion USD in 1995 to $9.28 trillion in 2005 and $21.03 trillion in 2018. When physical assets controlled the balance sheets in 1975, the value of all S&P 500 companies’ intellectual property (IP) was only $122 billion USD.

And since, the rapid rate of technological advancement, the increasing importance of brand recognition in globally connected trade, and the toughening of international accounting standards have all worked together to guarantee a move in the fortunes of meaningful assets, one that has convincingly pushed intangible assets to the frontline.

IP’s relative weight has also markedly expanded over the same period of time as its net worth. The market value of the S&P 500 businesses’ IP grew from 68 percent in 1995 to 90 percent in 2020. It is plausible to assume from these numbers that IP will deliver more relative and absolute value to the majority of publicly traded companies in the years to come, ignoring the COVID-19 pandemic’s negative effect on economic growth.

What are the different types of IP worth?

Of course, specific examples vary dramatically from asset to asset. However, it is true to say that patents often have a higher value than the other three primary types of IP: trade secrets, copyrights, and trademarks.

Physical assets’ values fluctuate according to respect to various trends, but IP is far more unique and needs a professional’s perspective to be evaluated correctly.

This results from both the work required to get such rights as well as the given to highlight of what patents protect, namely the creativity and exclusive ownership of an innovative product or solution. The application to approval cycle for a trademark is usually far shorter than the process for receiving a patent from a national or regional IP office. For example, the United States Patent and Brand Office usually requires 12 to 18 months to register a trademark (USPTO).

In an example, the typical overall number of pending for a patent at the same office—the time from original filing to finalisation 24.4 months. Another thing to keep in mind is that, despite unfiled patents, even unregistered trademarks can offer some level of legal protection. Similarly for trademark registration in the same jurisdiction, registering for and maintaining patent rights usually costs more money. Nevertheless, there are always exceptions to the rule, and in the case of intellectual property, trade secrets are somewhat of a risk. These assets are famously challenging to evaluate accurately in terms of money and cents.

Take the Coca-Cola formula, probably the most valuable trade secret in business. One can nearly declare with complete confidence that not a single patent held by that corporation is valuable as the formula for its main product. On the other hand, the trade secret behind McDonald’s special sauce is a significantly less valuable IP asset than the trademark protecting the McDonald’s logo. Simply expressed, a formal evaluation is the only way to determine the exact result of any intellectual property asset instead of depending on broad assumptions.

How do you calculate the IP valuation?

• There are three primary strategies, each with advantages and disadvantages.
• Income: According to the World Intellectual Property Organization, this technique is the most popular for calculating the value of IP (WIPO). The “amount of economic income that [the asset] is expected to produce, relative to its present-day value” is used as the ground of calculations. The royalty income from the licencing structure would serve as your starting point if you wished to licence the item. But in order to use this method, it must be considered that future income is predictable with a sufficient level of confidence and will be pretty constant. Risk is taken into account using additional factors, but as with any estimations, some level of uncertainty is unavoidable. 
• Cost: This value model evaluates the expense of creating a certain IP asset. A cost-based valuation can help to determine what expenditure would be assumed to develop a similar or identical IP if you are worried about wasteful spending in R&D and similar day-to-day activities. The method’s disadvantages are that it only applies to easily reproducible IP and ignores an asset’s uniqueness or marketing value.
• Market: A market-based IP valuation is a similar process, much like the costing method. It determines the cost for a party to purchase an intangible asset identical to the one that is evaluated and bought under proper conditions. The European Union Intellectual Property Office (EUIPO) says that because this method is similar to the valuation of tangible property, it may be the best option for people new to IP transactions. Finding an equal IP asset for a less well-known product, such as specialised computer software, might be challenging.

Understanding the valuation scenario, the business environment, and the desired goal in great detail is necessary for choosing the right technique. Future earnings possibilities are not considered by either market- or cost-based valuations because they are fundamentally reactive. The income technique, on the other hand, is subject to market uncertainty and changes in strategic priorities because it is a future estimate.

Evaluating IP is highly complicated, starting with choosing the best method. The features of the asset under review (such as the quantity, variety, and use of assets) and the planned application of the valuation results affect this decision.

Additional factors that could impact market research and, as a result, the choice of strategy range from the opportunity for amended licencing agreements to the damages at risk in a patent infringement action (in a highly competitive economy).

Why value your IP?

A company’s development can profit from an IP evaluation study, especially during fast growth and market development. Looking at your books helps you to highlight what you have to offer in the event of a merger or showcase the financial power of your business during purchase discussions. You can improve your chances of acquiring investment funding and make more smart business decisions during strategic partnerships by evaluating the value of your IP assets, both independently and as a property.

When it comes to the actual worth of your intangible assets, the specialists at Menteso IP Consulting are always available to provide guidance and knowledge that can be fully implemented.

We customise our IP docketing services to meet the needs of every client. For instance, certain law firms and IP owners prefer that MentesoIP utilise our docketing software. Because to docket and handle all events independently. They ask that MentesoIP only issue notifications in specific situations, reduce duplication and increase efficiency drastically.

Other clients will want MentesoIP to utilise their docketing software to enter the docket entries. And controlling the docketed events themselves. These clients monitor the docket. Other law firms and IP owners like hybrid models. That use either the docketing software provided by the clients or that of MentesoIP. And we customise our docketing services to match their needs.

MentesoIP directly supports law firms and IP owners in developing and maintaining IP protection. This is because of creating and completing all forms connected to IP prosecution globally. MentesoIP prepares and files IP-related documents and structures at all patent and trademark offices. This includes those in North America, Europe, Asia, and the WIPO, using a vast range of resources, including multilingual teams of professionals knowledgeable of IP rules. And regulations around the world.

MentesoIP’s strict training programmes and quality control procedures guarantee that our scrupulous professionals prepare and file IP prosecution-related forms without making mistakes everywhere in the world.

We prepare and file IP prosecution-related forms specific to each client’s needs. Some legal firms and IP owners, for instance, want MentesoIP to create and forward IP prosecution-related forms to another business, such as the patent owner or law firm, for filing in a patent or trademark office by that entity.

Other clients would instead MentesoIP write and submit forms connected to IP prosecution to the appropriate patent or trademark authorities. Some law firms and IP owners prefer hybrid models. MentesoIP produces and files IP prosecution-related forms in some patent or trademark offices while also preparing and transferring forms to another organisation for filing in additional patent or trademark offices.

To assist law firms and IP owners in managing IP assets globally, we use our wide and complex resources, which include multilingual teams of professionals knowledgeable of IP rules and regulations internationally. MentesoIP, for instance, oversees the submission of new patent and trademark applications and offers new patent and trademark application filing strategies based on the demands of our clients, including providing suggestions for the submission of new domestic and foreign patent and trademark applications as well as PCT patent applications.

Another illustration is the management of disclosure requirements by MentesoIP, which ensures that prior art and relevant examination reports are regularly submitted to patent offices globally for connected and associated applications.

To meet the needs of each of our clients, we customise our IP management solutions. For instance, some law firms and IP owners would prefer MentesoIP only to give them our recommendations for IP management strategies, which would then be performed by a different party, such as the law company or IP owner.

Other clients would instead have MentesoIP carry out the IP management strategy recommendations on their behalf. For instance, MentesoIP might use its network of experts to file relevant paperwork with national and international patent and trademark agencies.

The IP management strategy guidelines are applied by MentesoIP in some patent or trademark offices, while implementation in other patent or trademark offices is handled by a different business. However, other law firms and IP owners prefer the predictive model. All of this has to do with Menteso Ip docketing services. Contact us whenever you have questions or need more information.

The process of administering the patent application process is known as patent docketing.

1. Docketing for patents and trust accounts

2. Requirements for Insurance

3. Docketing vs Data Entry 

4. Docketing Importance

5. The Process of Docketing Patents

6. Guarding your intellectual property

7. Selecting the Software for Patent Dockets

The process of managing the patent application process is known as patent docketing. Docketing is a crucial tool for patent law firms because it can be challenging to maintain track of every patent application on behalf of clients. Most law firms employ docketing experts to run the patent docket system. An increasing number of patents are being added to the docketing system to handle each patent application, which can take up to several years.

Docketing for patents and trust accounts

However, filing a single document with the USPTO does not represent the whole of the patent application procedure (USPTO). Other paperwork, such as forms and drawings, are necessary for addition to the application itself. Attorneys for patents must also keep track of application fees and deadlines.

When it comes to patents, most law firms want to make sure they get paid in completely full advance. Since getting a patent might take a long time, the client of the legal firm may decide to take a different path or change their mind, failing to compensate the lawyer for their services.

 Therefore, each application will also include information about the customer, the fees the client has previously paid, the client’s trust account number when it is placed into the docketing system, and the patent application. It should be noted that the client trust account was created to keep the client’s fees that the attorney has not yet earned.

Every patent agent or lawyer must maintain a separate account designated only for holding client fees, or deposits, that have not yet been paid for the services provided. This can’t be utilised for anything else. Retainers cannot be combined with other business monies in this client trust account. It is mandatory to have a separate report.

Patent attorneys and agents will learn that they will probably need to spend a lot of time and effort following their customers in the collections process with other business money if they don’t get paid in advance for their services, which is known as receiving a fee. It is compulsory by law to have a separate account.

 Requirements for Insurance

To avoid malpractice claims if a patent law firm misses a filing deadline or results in rejecting a patent application, these businesses require their insurance providers to use docketing systems. Most patent law companies would probably employ a docketing system regardless of whether insurance needed it, it is safe to say. To ensure that both docketing systems are identical, some insurance companies even require that these businesses use two different docketing methods. Two docketers would be used to input data into the system and double-check each other’s entries.

Most insurance companies also require using engagement and disengagement letters by patent law firms. The work agreed upon to be done on behalf of the client is outlined in an engagement letter. Additionally, it will specify the payment terms and probably state what is owed to the lawyer if the client discontinues the work in the middle of it.

There is no required format for the engagement letter, and it is entirely up to the law firm to choose how formal and particular to be. The letter must be signed by the client to avoid malpractice claims if the USPTO rejects the patent application.

The National Organisation of Patent Practitioners (NAPP), a nonprofit trade association, is a membership organisation that includes the majority if not all, patent law companies. NAPP helps its members by educating them about the patent market through emails and newsletters. The meeting gives patent law companies a platform to recommend one another or discuss crucial issues facing the sector.

Docketing vs Data Entry

The docketing system is sometimes mistaken for a simple data entry system. It may be challenging for a legal firm to locate a skilled individual to work on the patent docketing system. Even though the patent docketing system does require a large quantity of data to be supplied, the system itself can be very complex due to the volume of data it stores and the number of patent applications it manages.

It is up to the docketer to manually calculate the due date and enter it into the system once information has been entered into the system, for instance.

Patent agents and attorneys can reduce the cost of maintaining the gallery by decreasing the required manual data entry. Docketing software and systems can help with this in several different ways..

• Patent agents and attorneys can view the whole patent portfolio thanks to the centralised data access provided by electronic docketing technologies. This might cover previous patents, trademarks, copyrights, disputes that might be connected, and so forth.
• Platforms for docketing offer clarity between workflow phases and policies. Concentrating on each client’s needs enables more consistency and efficiency. As international rules change, the media are updated frequently.
• Because it enables users to correct problems in large patent catalogues, electronic intellectual property data can enhance data quality. The USPTO and other patent offices allow patent attorneys and agents to deal with the level of investigation data. Anyone accessing this data can fix mistakes and improve each record’s formatting.
• It might be difficult for patent attorneys and agents to put together reports and find the data they need for presentations. In addition to better-quality data that can be accessed from several sources and in different forms, many docketing software solutions enable advanced reporting on intellectual property issues.
• When it comes to best practices, docketing software is flexible. Thanks to this specialist software, businesses are no longer restricted by pre-defined, rigid processes that may have been created with other uses and applications in mind.
• Robust docketing software can offer the capacity to examine the market presence, develop and administer it, and reporting features.

Different companies may keep various amounts of data. Dates, costs, licencing royalties, and other details included in patent applications must be preserved in a structured, easily accessible manner. It can be challenging for many firms, especially those that operate worldwide, to know where to file this information and how much information to include in the first place.

An essential part of managing intellectual property is docketing. Organizations must therefore keep up a high-quality docket management system. If not, the costs of establishing and maintaining patent documents may rise. Docketing technologies ensure that fees, application payments, and deadlines are appropriately tracked. Even when necessary, they remind all parties involved.

To be ready for the management of intellectual property protection in the future is yet another reason for using an electronic docketing system instead of manually entering and tracking information.

Docketing Importance

One of the main aspects of patent proceedings is docketing. Without it, those that hire competent patent attorneys will probably miss deadlines and ultimately lose their chance to get a patent. The reactivation charge for larger businesses is $1620, while the cost is roughly half that for smaller organisations. However, there is very little chance that the client will keep hiring the lawyer after they miss the deadline. Therefore, a docketing system is one of the most crucial aspects for legal firms practising in this field.

Law firms need to consider other factors when keeping up every market presence.:

• The investigation and management of the patent application’s legal costs should be included in each portfolio, according to law firms.
• The financial value of the invention itself should be kept in mind by law firms. The legal costs of the patent application may be higher if there is a very high real value.
• Standardization is necessary so that legal firms can maintain a uniform process and, as necessary, update every patent application.
• Every patent portfolio should work to improve the data quality. Using docketers, patent attorneys can be informed when deadlines are near since they can be confident that no errors exist, all papers are kept correctly, relevant fees are submitted, and due dates are entered correctly.
• It is essential to keep functionality in the docketing system on its own in mind. A docketing system with free text input should be looked after by patent law firms so that notes can be added to each portfolio describing the application’s current status.

The Process of Docketing Patents

The patent application process involves a significant amount of paperwork, as was previously mentioned. A new portfolio must be added to the docketing system whenever a client has engaged the legal team to prepare the patent application. The docketer must make sure the details are precise.

As a result, the client’s name, contact details, invention, the industry it serves, and other relevant data are added to the portfolio. The client trust account number, legal fees owed and paid, and any additional filing fees associated with the application must be included in the presentation.

The docketer will then scan all copies of the application, including attachments and additional papers. As new paperwork is received, the docketer will review it and add it to the client’s collection. Depending on where the client is in the patent application process, a few deadlines and due dates will be included to ensure the firm is aware of upcoming deadlines, filing fees that are about to be expected, and so on.

Guarding your intellectual property

To promote creativity, innovation, and invention, it is crucial to protect intellectual property, which is the goal of the patenting process. Businesses find it challenging to compete in their markets without it. For economic expansion and job creation, intellectual property is equally essential. It has numerous applications in the commercial world.

It’s essential to manage your patent and application portfolio as cheaply as possible to secure your intellectual property. As a result, a business managing this portfolio must differentiate considerations in mind. These contain:

• All fees associated with maintaining and pursuing the patent portfolio.
• The worth of all patents commercially. To prevent rivals from using the discoveries and goods for their financial benefit, these patents may provide exclusive licences to specific individuals or businesses. Cost-saving measures include removing patents with little practical uses.

Selecting the Software for Patent Dockets

To manage the patent docketing process, numerous types of software are available. Some software solutions permit free text entry, allowing docketers to add data into the system as they see fit. To save docketers from having actually to calculate due dates, other tools do it for them. To track when the profile was edited, some systems feature audit logs. Patent law companies must investigate the many software options and select the one that best satisfies them.

On UpCounsel’s marketplace, you can post your legal need to learn more about patent docketing. Only the top 5% of attorneys are admitted to the UpCounsel database. With an average of 14 years of legal expertise, the attorneys on UpCounsel have graduated from prestigious law schools like Harvard Law and Yale Law. They have worked with or for businesses like Google, Menlo Ventures, and Airbnb.

What Are Examples of Patent Drawings?

Diagrams or pictures you use to describe an invention in a patent application are patent drawing examples. You must submit a patent drawing together with your application if it would help an examiner understand what your creation works or how it looks. You should know the elements that make an excellent patent drawing, as most patent applications call for at least one drawing.

To help highlight the drawing formula, the following patent drawing examples are here.

• How a cordless optical computer mouse works inside a computer
• Bicycles, such as the wheel and gear systems
• Jacob Schick invented a shaving device in the 1920s.
• The transmission from a Honda race motorcycle,

Why Are Examples of Patent Drawings Important?

Simply explained, patent drawings enrich, clarify, and improve the readability of your patent application.

The technique for obtaining a patent is to be as clear and complete as possible with your descriptions and drawings. You are more likely to show that your innovation merits its own patent if you can show that your design or product has additional refinements or characteristics beyond what is known as prior art (previously existing designs or products).

You are able to remove some elements from your designs when submitting them to the United States Patent and Trademark Office (USPTO), but doing so could create issues. In general, if characteristics are not necessary to fully understand the invention, you can remove them from the description or claims. However, you should add a symbol or named representation to these features in your drawing.

What Are the Rules for Creating Patent Drawings?

When submitting patent drawings, you must conform to a set of rules provided by the USPTO. You’ll have to wait for your patent filing date if the rules are not followed. This delay exposes you to competition and puts your intellectual property at risk.

You may also learn from patent drawing examples what details and general concepts to include in the designs.

Examples of patent drawings usually include both design and utility patents. Furniture and jewellery are examples of items covered by design patents. Utility patents define the functioning of a device or procedure. Although some colour examples exist, most of these drawings are in typical black and white. The USPTO will only accept these colour choices if they more effectively represent the product.

All the necessary principles, such as: are described in the Manual of Patent Examining Procedures.

• Send documents on white A4 or 11 x 8.5-inch paper.
• Utilize black India ink.
• As with drawings, provide formulas, charts, and diagrams with the same names.
• At the top of each page, highlight the invention’s title, the inventor’s name, and the application number.
• The margins are 1 inch on the left and top, 3/8 inch on the bottom, and 5/8 inch on the right.

• You should make a separate list of the elements of the invention before creating a detailed patent drawing description. Any other sources can be added to the list. With a written report, you can:
• To prevent using the same number for two different pieces, keep identification numbers in the correct order.
• Make sure your explanations are clear and prevent using many words to describe the same things.
• Provide a quick method for the patent designer to recognise the invention’s elements or reference numbers.

When Wouldn’t You Use Examples of Patent Drawings?

You might declare inventions relating to a chemical compound, a method, or a process. These situations may well not require the use of a patent drawing.

An inventor might hire a patent designer for some patent applications. An expert that creates excellent drawings of your invention using your ideas is a patent illustrator. Prices for this service range from $100 to $125. Hiring a professional may be more efficient for innovators who lack the time or patience to produce their drawings.

Reasons to Consider Using Examples Of Patent Drawing

You can produce your drawings for your first patent applications by using a patent drawing example instead of hiring a patent illustrator. Even if you decide to work with a patent illustrator, you still need to understand how the drawings should be presented, what should be shown, and how many pictures to put in your application.

Consider your patent drawings as the number of representations you’ll need to provide patent application examiners with a clear overview of your invention, not just one.

Recognizing competitors in the market is another advantage of using patent drawing examples. You can build a model from these related concepts comparable to other models used in the field. The more complex your vision, the more patent drawing examples will assist you in giving your ideas a visual representation.

What’s Included in Examples of Patent Drawing?

• Using patent drawing examples can give you new insight into the best views. These ideas include:
• The six typical views of the invention are its front, back, left, right, bottom, and top.
• perspective views that display surface texture, shape, and depth
• Booming opinions that show how one element of the invention functions in usage
• Cutaway or sectional views that express the invention in cross-section
• Block diagrams and flowcharts help simplify the invention’s function

Examples of patent drawings show the differences between freehand and computer-aided drafting in 2D and 3D patent drawings. These programmes improve the preparation of drawings for those who lack artistic ability. Even a hand sketch is much improved when combined with patent drafting software. If you’re unfamiliar with the programme, the inventor should be conscious of some drawing methods used because they can be helpful to the patent designer.

You could use examples to help design your idea’s mechanical or moving components. You can clearly show with arrows what each element of your device does. Arrows also assist in maintaining your references straight, keeping the flow of your sentences, improving the overall impression, and educating people on how to use a device, even without a description or legend. You can use multiple drawings representing each part in each position instead of arrows to indicate the functions of the components.

• When you’re planning to submit a patent, you can search for similar patents in your industry to get examples of what to do. These examples will also show the extra components that must be included in the patent description, such as:
• Technical field 
• Information on the site
• Explain how your product solves an issue in the prior art
• Figures
• Your invention’s explanation
• instances of planned use

You may ensure international patent protection for your innovation by using a drawing example and a descriptive example.