Problem
The tech startup develops highly efficient substances for cleaning water from oils. The potential markets for the solution are global, which means that the company should file patents in a large number of countries. The company was working with an international IP law firm that managed foreign patents through the partners. It increased the costs, and the annual budget has reached $400K. Company management decided to optimize IP registration processes and reduce costs.
Traditional Solution
To reduce IP costs, the company would need to establish a separate IP manager, who would require a salary of $5-10K per month. This person would create a registry of all IP assets and current tasks, negotiate with performers, and ensure the quality of work. The traditional approach would take 6-12 months to implement and would result in a budget reduction of $150K, but the savings would be offset by personnel time and salaries.
iPNOTE Solution
With iPNOTE, the company structured intellectual property data and hired verified local IP attorneys in 23 countries. The optimization described above was achieved in less than one month, and was done by junior legal counsel. Company decreased the annual budget by 46% ($184K), while ensuring quality and control on the IP portfolio.
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iPNOTE helps small high-tech companies protect their IP at a corporate level and cut costs in half. The iPNOTE cost is based on the volume of the intellectual property portfolio and the number of transactions, so it is feasible to implement at an early stage of the company’s development.
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If you’re in need of professional assistance with patent registration, our specialized patent registration service offers comprehensive support, including guidance on the intricacies of patent registration in Canada.