5 Ways IP Law Firms Can Leverage an End-to-End Delivery Software

The previous decade has witnessed substantial growth in patent applications in both Europe and the United States. This surge has largely been propelled by various political tools, as well as a transition in numerous business models, which were necessitated to alter their strategies, introduce new offerings, or embrace digitalization in their industries. Moreover, artificial intelligence seems to be a dominant topic of discussion. The capabilities of artificial intelligence, particularly in Legal Tech, have merely started to reveal their immense potential.

Ever since 1474, when Venice issued what is believed to be the first modern patent — related to glass-blowing — intellectual property attorneys have spearheaded commercial innovation. However, despite guiding companies on protecting their IP, IP law firms have themselves been slow to adopt new technologies. The capabilities of digital services and artificial intelligence have merely started to unveil themselves. As a dedicated IP law firm owner, you stand to gain from the advantages of these advancing technologies as they continue to develop.

We’ve got you covered.

Get ready to learn how IamIP can help you:

  1. Improve client services
  2. Become more pro-active
  3. Help your client be successful
  4. Identify risks for your client
  5. Find new businesses

But first let’s start with the basics.

What Is IamIP?

IamIP is revolutionizing the patent management space and is a software that enhances efficiency and transparency. IamIP enables technology companies to track public patents automatically and stay ahead of competition. Whether you’re a seasoned IP law firm owner or a single patent attorney, IamIP can help digitalize your firm and services in an infinite number of ways – but for the sake of easing into this new way of working, here are five of them:

1. Use IamIP to Improve Client Services

Let’s face it: in our digital age, information is flowing more than ever. With an abundance of data, we’re seeing a spike in emails and phone calls. This flood can leave clients feeling a bit swamped.  Clients usually rely on the information provided by lawyers in the business, making it essential that they don’t miss out on anything important.

Because it’s crucial to have the right information on hand when required, consider digitalizing and automating your firm as much as possible, starting with IamIP. It’s also no secret that clients love immediate gratification, but it’s not always possible to stay awake answering every inquiry that comes your way. That’s why service providers like IamIP can help bridge the gap in information exchange. A digital platform can provide 24/7 support to clients, ensuring that their basic queries are answered promptly while also allowing you to focus on the big picture.

2. Use IamIP to Become More Pro-Active

IamIP can assist patent lawyers and legal staff in proactively monitoring their clients’ patent portfolios and their competitors’ patent filing activity. Input all their main competitors and patent numbers, and IAMIP can automatically notify you with a list of relevant information. This can enable lawyers to be more proactive in their interactions with clients, adding value to their businesses and enhancing their client experience.

Here are a few specific solutions IamIP can provide:

  • Citation Alerting: IamIP will automatically send a notification when a patent is cited in another patent application. This can help patent lawyers detect possible infringements and take appropriate action.
  • Automated Alerts: IamIP can automatically capture relevant patents to keep track of what competitors are doing in real-time, supporting companies in early detection of whether they should pursue a new patent application or not.
  • Knowledge Database: IamIP can be used as part of the patent law firm’s knowledge database, helping clients organize and categorize public patents and information in a more efficient and searchable manner. This ensures that legal professionals and clients have access to the most up-to-date and relevant information when needed.

The less time you have to spend on manual research and finding relevant documents for clients, the more time you can dedicate to helping them maximize the value of their intellectual property.

3. Use IamIP to Help Your Client Be Successful

IamIP can support your clients in not reinventing the wheel and identifying what they could protect during the development phase. Patent lawyers can set up different alerts in their customers’ technology areas, and IamIP will generate a library of relevant patent documents for the clients’ various product development groups. This can save patent lawyers a considerable amount of time during the drafting and prosecution stages, allowing them to spend more time on strategic advice on how to protect the core of the invention based on what has already been invented/protected.

Here are just a few things IamIP can help your clients with:

  • Avoid Being Blocked: IamIP can be trained on a set of patent documents to automatically detect possible threats or roadblocks based on the clients’ technology. This can really save a lot of money for the clients from a Freedom to Operate perspective, as it will allow the patent lawyers to quickly identify legal problems and make better, more accurate recommendations to their clients.
  • Identify Innovation: IamIP can be embedded into the clients’ phase gate model and will enable them to detect key features to protect in comparison to what has already been published/protected.

Overall, IamIP can be a valuable tool for law firms in the drafting/prosecution process, as well as allowing patent lawyers to really focus on strategic advice in order to make their clients more successful.

4. Leverage IamIP to Identify Risks for The Client

IamIP can be a valuable tool for law firms to help identify potential threats and detect risks for their clients in the realm of intellectual property (IP) and patents. However, it’s important to understand that IamIP is not a magical solution; it relies on the input of relevant information to provide effective alerts and insights. Here’s a breakdown of the key points to keep in mind:

  • Collect Details About the Patent Portfolio: To make the most of IamIP, law firms should gather comprehensive information about their clients’ patent portfolios. This includes details about the patents, such as their numbers, titles, descriptions, and filing dates. Having a clear understanding of the patents is essential for monitoring and analyzing their status and potential risks.
  • Stay Informed About Current Technology Developments: To effectively identify threats and risks, it’s crucial to stay up to date with the latest developments in technology and the relevant industry. This includes being aware of emerging technologies, trends, and competitive landscape changes that may impact your clients’ IP assets.
  • Identify Strategic Core Markets: Understanding your clients’ strategic core markets is essential for tailoring alerts and risk assessments. Knowing where your clients operate and where their IP assets are valuable, helps prioritize monitoring efforts in specific regions and jurisdictions.

Once you have this information, you can use IamIP to set up automated alerts for your clients’ patent portfolios and technology areas. These alerts will notify your clients whenever one of their patents is cited by a patent examiner or an applicant in a new patent application. Similarly, setting up alerts in specific technology areas can capture similar patents.

The benefits of using IamIP for automated alerts include:

  • Proactive Engagement: By receiving alerts, patent attorneys can proactively engage with clients, informing them about potential risks and discussing necessary actions to protect their IP assets.
  • Insights Into Key Countries: IamIP can provide valuable insights into key countries where similar technologies are protected. This information is essential for clients as they continuously update their IP strategies and make decisions regarding international patent protection.

In summary, IamIP is a powerful tool for law firms to enhance their IP management services. Still, it requires accurate and up-to-date information about clients’ patent portfolios, technology developments, and strategic markets to provide effective alerts and insights for risk mitigation and IP strategy improvement.

5. Use IamIP to Find New Businesses

IamIP can enhance your business development efforts by identifying potential clients. It provides a list of clients similar to your current ones, highlights technical areas where patent lawyers excel, and tracks new companies entering the patent landscape. These features open new business opportunities.

Here’s how you can use IamIP to refine your go-to-market approach:

  • Lead Generation: IamIP offers the latest patent publications in specific technology areas weekly, aiding your prospecting and increasing potential leads.
  • Stay In Touch: IamIP notifies you of recent oppositions filed against specific companies’ patents, giving you a reason to contact prospects.
  • Monitor Emerging Companies: IamIP automatically tracks companies of interest and emails you when they file new patent applications.

In today’s competitive industry, leveraging IamIP can be a key to success. Incorporate it into your sales process to discover leads, enhance your digital presence, and demonstrate proactive client service.

Final Thoughts

In conclusion, the evolving landscape of intellectual property law demands that law firms embrace technological advancements to remain competitive and provide exceptional services to their clients. The past decade has seen a surge in patent applications, necessitating a shift in strategies and the adoption of digitalization in various industries. Additionally, the role of artificial intelligence in Legal Tech is becoming increasingly significant, promising numerous benefits for IP law firms.

As a dedicated law firm owner, it’s essential to recognize the potential advantages of leveraging end-to-end delivery software like IamIP.

Here are the key takeaways on how IamIP can transform your IP law firm:

  1. Improving Client Services: IamIP enables you to provide 24/7 support to clients, ensuring they receive timely and accurate information. This enhances their experience and helps you stay ahead in the information exchange game.
  2. Becoming More Proactive: With IamIP’s proactive monitoring capabilities, you can keep clients informed about their patent portfolios and competitor activities, adding value to their businesses, and enhancing client relationships.
  3. Supporting Client Success: IamIP assists clients in identifying what to protect during product development, saving time and resources in the drafting and prosecution stages. It helps clients to avoid potential roadblocks and promotes innovation.
  4. Identifying Risks: IamIP serves as a valuable tool for identifying threats and risks to clients’ intellectual property. It relies on accurate information, knowledge of technology developments, and strategic market understanding to provide effective risk assessments.
  5. Finding New Businesses: IamIP can boost your business development efforts by identifying potential clients, technical areas of expertise, and emerging companies entering the patent landscape. It offers lead generation opportunities, helps you stay in touch with prospects, and monitors emerging opportunities.

Incorporating IamIP into your law firm’s operations can streamline processes, enhance client satisfaction, and position your firm for success in the evolving intellectual property landscape. As the legal industry continues to evolve, embracing technology like IamIP is not just an option but a necessity for staying competitive and delivering top-notch services to your clients.

written by: Dimitris Giannoccaro

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